Steps to Take if Divorce Appears Imminent
Most individuals work hard to avoid splitting up, but sometimes couples find themselves facing a divorce even after their best attempts to salvage a marriage. If divorce is on the horizon, there are several steps you can take to better prepare yourself for this life-changing event:
- Know rights. As a first measure, you will want to consult an attorney to gain a clear understanding of your legal rights — and responsibilities. An experienced attorney can help you avoid any missteps early on that may affect divorce proceedings further down the road.
- Gather background documentation. In preparation, you’ll want to gather and make copies of important documents such as tax returns, investment and bank statements, wills and mortgage documents. If you are married to someone who runs his or her own business, try to obtain as much information as possible about the financial aspects of the enterprise.
- Inventory belongings. When it comes time to split assets, it is important to have identified valuables including artwork, jewelry or vehicles.
- Put your financial house in order. Separating your financial accounts, and alerting insurance policies and retirement accounts about a change of beneficiaries, is another important step in preparing for divorce. You may also want to establish and use your own line of credit, particularly if you are not able to obtain a sufficient line of credit on your own. You may also want to pay down debt that belongs to both parties.
- Start saving. In preparation you’ll also want to put aside money that will see you through what may end up being a protracted process.
- Stick to a routine. Do your best to keep as normal a routine as possible, especially for any children that may be involved. This stability will help lessen stress as much as possible.
If you are preparing for a divorce, meet with a skilled divorce attorney at Bryan L. Salamone & Associates for advice on your next steps.