Preparing For Divorce

Posted on November 5, 2014

They say the key to success is preparation—and in making your decision to file for Divorce is no different. Before drawing your “line in the sand”, you will need to get your documents in order. Make copies of tax returns, bank statements, mortgage documents, credit card statements, car titles, and any other financial information possible. This will save you time and money down the road. Keep these statements away from common areas, so that they don’t disappear or get misplaced.

Budgeting for your divorce is often overlooked by the parties, but its importance cannot be emphasized enough. If you have never had a budget before, now is the time to make one. A good place to start would be to obtain a copy of a blank Financial Affidavit and take the time to fill out each and every blank on the form. Once you know what you are spending during the marriage, you can anticipate what you might spend when you no longer have access to two incomes.

If money was a problem during the marriage, you might also want to consider filing for bankruptcy. Filing for bankruptcy before and during a marriage has certain legal ramifications you should know about before filing. Always consult with a family law attorney before filing any type of action in court and be sure to mention you are considering filing for divorce during your initial consultation.