Going through a divorce is a major decision. It is important that before you start the divorce process that you are ready financially and emotionally. Here are 3 steps that you need to take to be prepared for your divorce.
1. Pay Off Joint Debt
Most people think of assets being divided during a divorce, that is a normal part of the process. But many people forget to recognize that you also will have to share the debt of the marriage, even if you are no longer married. Any debt that was acquired during the marriage will be the responsibility of both parties. It can be very dangerous to divorce while you still have debt, since it could hurt your credit. For instance, you might decide that one spouse will make the payments on a certain credit card. If that spouse fails to make the payments, it will harm both of your credit. This means you could be in a world of hurt for something that you didn’t do.
Before you start the divorce process, you should try to pay off all debts that are in your name together. It will make things much easier.
2. Have Some Savings For The Divorce Fees
Getting a divorce can be expensive. It can be even more costly if you have a lot of disagreements and need help from your lawyers to settle the disputes. The first time you meet with the lawyer, they will ask for a retainer fee. If you cannot pay the retainer fee up front, the lawyer might not work on your case. This is why it is important that you have a least a couple thousand dollars for the lawyers. This will help to get the ball rolling on your divorce.
3. Settle Family Vacations, Holidays and Other Special Events
January is the highest month for divorce for a reason. Couples with children are very sensitive to the fact that the timing of the divorce will be hard on both the spouses and the children. This is why it is important that you choose a time to divorce when there are no special events. Avoid children’s birthdays, holidays, big celebrations, family vacations and anything else that the family has looked forward to.
By doing these three things, you can help to make the divorce process smoother. It may not mean that the divorce is without stress, but you might be able to simplify the process. Contact a company like Mauro Savo Camerino Grant & Schalk for more information.