Divorce is never an easy situation to go through. It can be emotionally exhausting and can strain the relationships you have with friends and family. Divorce is also a tricky area of law, and unfortunately, many people make the mistake of acting to quickly without first getting their affairs in order. Although you might be ready to leave your spouse, you don’t want to be left in a position that will negatively affect your divorce settlement. Below, we explain five things you should do before you divorce your spouse.
Figure Out Your Finances
Getting divorced will have a significant impact on your finances. Before you serve your spouse with divorce papers, you need to closely review all of your accounts and income revenue to determine your financial standing.
If you will be living away from your spouse during your divorce, you will need to consider how this will affect your overall budget. Knowing what your financial future looks like will help you better negotiate the terms of your divorce settlement.
Document Your Assets
One of the biggest issues that divorced couples face is determining how their assets will be separated. Prepare ahead of time by making a list of all of the assets that you own and which assets were acquired during the length of your marriage. You will also need to know what each asset will be worth.
Establish Your Own Credit
Married couples spend years building their shared credit history, however, this can become a big obstacle during a divorce. From separating debts to paying off loans, joint credit cards and other types of shared loans often cause some of the biggest disputes for spouses. Because you might lose access to some of your lines of credit during the divorce, you should start building separate credit before divorcing your spouse.
Think About How to Tell Your Children
Your divorce will have a huge impact on your children’s lives, which is why you need to plan out how you will talk to them about your divorce. Make sure you kids are prepared for the emotional challenges they will face during your divorce and remind them that you will still be there to support them.
Speak to an Attorney
If you have decided that it is time to divorce your spouse, you should consult with an experienced lawyer to make sure you are taking the right precautions. An attorney can help you uncover any assets that your spouse might be hiding from you, as well as petition for custody of your children. Lawyers have the resources and experience that you need to ensure that you are able to reach a fair divorce settlement.
Contact our Dayton divorce lawyers to discuss your case today. We are here to help you 24 hours a day, 7 days a week.