How to Prepare for Divorce:

There are both practical and emotional steps that a person can take to prepare for the divorce process. Customarily, when meeting with a potential client for the first time, we discuss what the divorce process will entail and the ways that the client can prepare themselves.

Not every potential client is certain that they want to proceed with a divorce. Making the decision to pursue a divorce is life altering, and the client should only decide to file for divorce if they are free of doubt regarding their decision. The attorney’s role is not to help the client decide whether to file for divorce. Instead, the party should rely on support structures such as family members, close friends, religious communities, etc. when seeking help with the most personal, emotional aspects of their divorce.

Gathering and organizing your current financial information will help you as you prepare for the financial effects of the divorce. You should collect up to date information concerning all of your debts and assets. This includes bank accounts, retirement accounts, investment accounts, real property values, credit card statements, etc. All records concerning your income, such as pay stubs and recent tax returns, should be collected as well. The financial status of the respective parties will affect several major facets of the divorce, including Spousal Support, Child Support, Alimony, and Equitable Distribution. The client should provide current financial information to their attorney early on in the case so that the attorney can adequately inform them of what to expect during the divorce.

The incomes of the parties is a factor that will affect property division, alimony, and child support. Clients should be equipped with their tax returns for the past few years, current pay stubs, and any other documentation that reflects any form of income earned by the party during the past few years.

If you own real estate, an automobile, or other property that carries significant value, then you should get whatever documentation is available regarding your acquisition of the asset and its present value. For example, any closing documents and mortgage paperwork regarding real estate purchased during the marriage will be relevant. If you took out financing for the purchase of an asset, then you should gather the documents that contain the terms of the financing, as well as a statement reflecting the present balance owed.

Parties to a divorce often have bank accounts, investment accounts, and retirement accounts. Any of these assets which accumulated any value during the marriage will be considered marital property that is subject to division in the divorce proceedings. A party to a divorce should obtain present day values for these assets and collect recent statements for these accounts.

Divorce carries with it an array of emotions and changes for the parties involved and their families. In addition to the breakdown of the marriage, frequently children are involved. Even when custody issues are handled with the utmost of care, children are ultimately impacted by the divorce of their parents. Persons considering divorce should know that there are counseling services available to help both spouses and their families.