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Posted on in Divorce

Illinois divorce lawyerOnce you determine that your marriage is over, you have a lot to do before and after you file for divorce. One important step is to start working with an experienced divorce lawyer to ensure that your rights and interests are protected and promoted through the divorce process.

The other steps you take before you file for divorce can make a big impact on your divorce’s progress and its ultimate outcome. During your initial consultation with a lawyer, talk about what you can do to streamline the divorce process. Every divorce is unique, but most benefit from taking the following actions:

Separate your Finances and Create Preliminary Property Division Plans

Your marital assets and debts will need to be divided between you and your spouse in your divorce. You can let the court handle the division process on its own or you can be proactive and make your own property division choices. This latter route generally enables the couple to retain greater control over how their property is divided.

One of the simplest steps to take before your divorce is to divide your bank accounts and credit card debt on your own. Transfer the balances on your joint credit cards to separate cards and close the original accounts. You can also do this with checking and savings accounts.

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b2ap3_thumbnail_divorce-filing.jpgMany couples must ponder the idea of whether or not there is truly a “right” time to divorce when faced with the decision to call it quits. Is there really such thing as a good time to break the sad news to friends and family? No one is ever truly prepared for the emotional toll that divorce entails, so it is completely understandable when a couple chooses to delay the decision. Some couples hold off with hopes for possible reconciliation, while others feel it may be best to stay together for the children.

Identifying Priorities

Whatever the personal circumstances surrounding your imminent separation, weighing various factors that may ultimately shape your divorce experience for better or worse before officially ending the marriage can be beneficial. Evaluating these factors can help you identify your priorities in the divorce process, which can help you decide the best time to make the jump.

Explore some of these key areas when looking at the timeline of your divorce:

1. Financial Standing

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Illinois divorce attorney, Illinois family lawyerProtecting your finances as you prepare for the divorce process is perhaps one of the most important tasks you can take on before your marriage officially ends. Planning is everything, as divorce can easily wreak havoc on your financial standing if you are not careful. Protecting your assets and monetary funds is critical if you want to maintain the lifestyle you are currently accustomed to and ensure your financial future is secure.

Constructing a Game Plan

As a divorcing spouse, you are already facing an emotional toll; the last thing you want is to tack on additional stress due to financial trouble, especially when some of that trouble can be avoided if addressed early on. Here are some important steps you can take to safeguard your finances amidst your impending divorce:

Take inventory - As overwhelming as it might be, taking financial inventory is a must. Sit down and create a list of every account and asset you share with your soon-to-be ex-spouse. You will need to take stock of joint accounts and pay special attention to lines of credit, as well as wills, retirement accounts, and any pending purchases or joint business investments. Also take note of any life insurance policies you opened up while with your spouse. You may wish to modify the policy if you had them listed as a beneficiary. Once you have a clear, thorough list of all your debts, accounts, and belongings, it is time to sit down with your spouse and speak civilly about what you would both like to see happen with each respective item on the list.

Establish your own credit - Whether you are at the beginning of the initial separation process, have a hunch that your marriage is on the rocks, or are diving straight into divorce, it is never too soon to try and establish your own line of credit. If you are on the verge of separating, you are at an advantage; the sooner you establish your own credit, the better off you will be post-divorce. This goes for standard bank accounts, as well. The moment you see your marriage coming to an end, start shuffling away some cash of your own. The divorce process itself costs money, and you will need funds to get by on your own afterward. This is imperative, especially if you have never lived alone or will be on your own for the first time in years.

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