The decision to separate from your spouse is not one you make lightly. Plenty of thought went into why it and a divorce needed to happen. Before you and your spouse separate, however, you may want to get some things in order first. Dive into these four topics, you should do sooner rather than later.
1. Get Financial Records in Order
It is beneficial to have accurate financial records for divorce. You want to have a complete accounting of everything you and your spouse co-own and then anything you may possess solely in your name. This helps when it comes to filling out court forms, such as the financial disclosure. This document is filed with the court early on in the process, and it helps set the stage for property division. Along with all assets, you must have an accounting of all debts and loans.
2. Open a Bank Account
If you do not have a bank account in just your name, now is the time to open one. When you and your spouse do split up, you want to have autonomy over your own money. This does not mean that you are keeping money from your spouse during the divorce. It means that you are protecting yourself from any adverse and reactionary measures your spouse may take when it comes to liquid cash. Attorneys and financial advisors often suggest a separate bank account.
3. Establish a Line of Credit
Like many things, you likely had a large majority of your accounts jointly held with your spouse. In preparation for the separation and divorce, not only should you strike out on your own with the bank account, but you also want to secure a new line of credit as well. This is so that you can begin to establish your path of credit. This will help you when you need to get a loan for a car or a new home. A credit card is an excellent way to accomplish this.
4. Seek Emotional Support
Regardless of why the marriage is ending, it is still a time to grieve the loss. You need to prepare yourself for the emotional toll the process may take on you. Consider confiding in some close family members or friends. Allow them to be your sounding board and haven. If you don’t feel comfortable with that, then consider seeking out support groups or a counselor. Trying to go through it alone may only add more stress to your plate.A family lawyer, like from The McKinney Law Group, is an invaluable asset when it comes to getting through a divorce. Seeking one out early in the process may prove to be a wise decision.
