When the divorce is imminent and ready to start a new life without each other, you need to keep your emotions aside and make sure of your finances and custody requirements. The divorce process can take a lot of time. In the meanwhile, you can start managing things on your own and set up an independent life. Here are the steps to take when you are convinced that you need a divorce.
Hire a lawyer
Research on the importance of a good divorce lawyer and use references to find yourself a lawyer who will take your case. Learn about your rights and responsibilities with the help of your lawyer and file for divorce with a deserving approach. Getting an early lawyer will also help you maintain a good reputation so you can fearlessly requirest for finances and custody of your kids.
Make copies of documents
Check for all the household documents and create a copy of everything you can find from bank statements, check registers, tax returns, retirement account statements, investments, insurances, loan documents, etc. Make sure to acquire as much information about the finances as possible and keep a copy for yourself.
Family possessions and inventory
List down all the furniture, jewelry, appliances, cars, artwork, etc., and also check the storage areas for everything valuable. When you are aware of all the items you have in your home, it will be easier to keep track of your rightful share of the items after divorce.
Plan how to manage family debt
Consider discussing the family budget with your partner and make sure how you both will be paying it after divorce. Allocation of marital debt is one of the most difficult things to negotiate. Make sure that you only have to pay for the parts equally. If the debt was taken by one of you before the marriage, it would be considered a non-marital debt.
Check the source of income of your spouse
If your spouse has a regular salary, you must know how much they are earning every month. In case your spouse has their own business or is self-employed, you should have track of all the transactions they have been receiving over the past few months. Sometimes, your spouse may try to hide money from you. That is why you need to be aware of the situation.
Determine your own financial condition
You must also look at your financial condition to make sure you will take up the responsibilities you want. While the marital debt is distributed between you and your spouse, other debts can affect your financial condition after the divorce when you pay them alone. Once you have a list of all the debts, create a statement with all open accounts and balances listed.