5 Things to do before filing Divorce
Author : Joseph Franks | Published On : 18 Aug 2021
Divorce is attached to several legal liabilities, which is why it is much more complicated than an ordinary breakup. It is not as easy as signing a document and going your different ways. If the marriage has lasted less than a year and you have no children together, it should be possible to walk away immediately; otherwise, there are multiple issues to discuss and resolve before the divorce reaches completion. Division and distribution of marital assets in perhaps the most critical aspect of ending a marital relationship. Both parties have to think about their future, thus maintaining financial stability after the divorce is of utmost importance.
Where there are kids, the couple has to shoulder additional responsibilities. The court of law always prioritizes the wellbeing of the children in divorce proceedings. Family Law Attorney in Springfield, OH, stresses on protecting your financial interests and civil rights to prevent unfavorable consequences following the divorce.
Below are five things you need to do before filing the divorce:
1. Make a list of combined Assets and total Income
Before filing for a divorce, you must fully understand the individual and joint financial situation of you and your spouse. Trace and enlist all marital property (assets acquired during the course of marriage) to ensure fair division and distribution. Many divorcing couples forget about joint debts or loans for which they share liability. If you and your spouse had a prenuptial agreement, you shall certainly deal with fewer problems, as far as finances are concerned. Other than that, you two should be aware of each other’s monthly salary, investments, profits, revenue generated from rental assets, and other supplementary sources of income.
2. Manage Joint Credit and Savings Accounts
It is not uncommon of people to steal or withdraw all the cash from joint bank accounts when they have decided to divorce their spouse or discover that their spouse is planning to leave them. You might be tempted to do the same, but you obviously shouldn’t. What you can and should do is to take the portion that truly belongs to you. You may transfer half the money into your personal account in order to save yourself from being robbed later. You and your spouse may also have joint credit – a privilege that needs to be revoked as soon as the decision for filing divorce is finalized. Pay off outstanding dues and close the shared accounts immediately, so that neither of you are held responsible for each other’s debt in the future.
3. Prepare to defend yourself
Abandoning your home in haste is never a wise decision. Whether you are going to stay or leave is something you should discuss with your spouse and your lawyer in advance. Leaving the marital residence all of a sudden will not help your case, as your spouse will be left virtually in charge of the property. However, if staying in the house is risky or life-threatening, moving out would be necessary. For example, if your spouse has violence tendencies and you have been a victim of domestic abuse multiple times, inform your attorney right away. You attorney will make arrangements for you to stay and keep the violent partner at bay via restraining order.
4. Determine your individual living costs
Your life won’t stay the same after the divorce. You can no longer depend upon your partner’s income or their financial contribution to the household. While the newfound independence can be liberating, you might waiver on the financial front on your own. Make a list of your individual expenses in order to prevent financial mistakes that might leave you bankrupt.
5. Keep your Emotions in Check
Divorce is a cumbersome process that tends to trigger complex and confusing emotions. You might feel upset, angry, betrayed, and remorseful at the same time. However, letting your feelings show or expressing your frustration might paint a bad picture of you. Anything you say and do (intentionally or unintentionally) could be against you during court hearings.