Divorce is one of the most stressful events a person can experience. One of the best ways of reducing the stress caused by a divorce is to prepare a divorce checklist. The checklist can be used as tool to navigate through the divorce and prepare for life after divorce.
Pre-divorce Planning
Most people do not arrive at the decision to divorce without first doing a lot of soul-searching. Once the decision is made, it’s best to prepare rather than immediately filing the Complaint for Divorce.
One of the first steps is to gather all of the relevant financial information. This information will be used by your attorney to evaluate your financial position and to negotiate a division of your assets and debts. Additionally, he will use it to complete any financial affidavits required in your state in divorce cases.
You will need to provide your divorce attorney with the following information:
- Salary/income for you and your spouse;
- Account numbers and balances for all checking and savings accounts;
- Account numbers and balances for all IRA, 401k, pension, and retirement accounts;
- Real property deeds;
- Car, motorcycle, boat, and other vehicle titles;
- Investment account numbers and balances;
- Mortgage statements;
- Credit card statements;
- Car loan statements;
- Statements for medical bills, personal loans, and other debts;
- Life insurance policy numbers and values; and
- Any other information pertaining to your assets.
Additionally, you will need to provide your attorney with a complete list of your monthly expenses. Expenses that are paid quarterly, semi-annually, or annually should be adjusted to a monthly amount.
If you believe that your spouse has hidden assets or is intentionally depleting assets in anticipation of divorce, it may be necessary to hire a private investigator and/or a forensic accountant. Although hiring these professionals can be expensive, doing so may be critical to obtaining a fair settlement.
What If There Are Children?
If there are children, most courts will order the non-custodial parent to pay child support. Therefore, it is critical that the court have an accurate picture of each parent’s income and earning capacity as well as the needs of the children. In preparing to file for divorce, you should pay particular attention to the expenditures you make for your children including:
- Medical expenses;
- Child care expenses;
- Clothing;
- Tuition; and
- Extracurricular activities.
Getting Legal Help
If you are uncertain about how to prepare for a divorce, you should hire an experienced divorce attorney. A divorce attorney will explain how the divorce laws in your state work and will work diligently to make the process as stress-free as possible.
