Preparing for a Divorce: What You Should Know and Prepare For

Legal Adviser October 14, 2016
0 people like this post
Preparing for a Divorce in Denver

Preparing for a Divorce in DenverA divorce can be emotionally and financially stressful regardless of the cause. As such, it’s best to prepare for it by consulting legal professionals. Their advice can help you make informed decisions and prepare for a life after divorce. You can likewise avoid the most common pitfalls that couples tend to encounter when they rush the divorce process.

Here’s what you should do:

Get all your documents in order

Divorce lawyers in Denver, CO and other legal professionals in the state recommend keeping all the records of your debts and assets. These should include details of your credit cards, bank accounts, stocks, loans, bonds, mortgages, and any title information. Know how to get all your tax return statements (at least for the last three years), as well.

If you are employed, get all the necessary information about your employment. If you run a business, then have a copy of your business assets, debts, and tax records ready. Other documents would include prenuptial or antenuptial agreements, wills, deeds, and powers of attorney.

Know your current financial situation well

After you get all your documents, you should find out the net worth of your marital estate. This is everything that you have acquired during the course of your married life. Subtract the value of all debts from the total value of your assets to get your net worth. This exercise will help you understand what you will be entitled to after your divorce.

Determine the support you will require

Keep a record of your expenses and income when considering a divorce. This will help you understand the support you will need to lead your life after your divorce. It also helps if you keep a record of your credit score. Make sure that you do not get into any new debt and ensure that your husband does not get into more debt either.

Consulting an expert divorce lawyer is an ideal way to make sure that you do not rock your boat too violently and end in a financial mess.

Category: Byline
  • 0
  • 393