Going through a divorce is a major challenge because it’s an upheaval of your entire life. As you’re thinking about the process of filing for divorce, it’s critical that you take proper steps to prepare.
One important thing to remember is that you can only take the time to prepare if you can do so safely. If there’s any indication that things may become violent, such as a history of abuse or threats, you should focus on safety first.
Gather financial information
The property division process is one that’s often complex. It may be beneficial to gather some of the documents that may help you to see the overall financial snapshot that’s at the center of the divorce.
You should get copies of all bank, retirement and investment account statements. Copies of the mortgage, personal loans, auto loans and credit cards are helpful. You may also need to make a list of assets, get copies of recent tax returns and gather paycheck information.
Set your new budget
It will be difficult to make decisions about the property division process if you don’t know how your financial statement will look once you’re reliant on your income only. Making a budget that’s based solely on your income may help you to determine exactly what you can afford once the divorce is final.
Plan for major changes
You should plan for the major changes that will come after the divorce. This includes thinking about how to handle things during the year of firsts, such as the first holiday season or birthday.
Taking steps to protect yourself throughout your divorce is critical. Working with someone familiar with this matter is critical, particularly if you believe the divorce will be contentious. Be sure to think of things from a logical perspective as you’re considering your options. It may be easier to let emotions rule, but logical thinking may put you in the best position possible.