
Divorce
1. Find Counsel
Going through a divorce without the help of a competent and hard-working divorce attorney can be disastrous. Find the right divorce attorney before your appearance in divorce court. Choose a divorce attorney with at least 5-10 years experience praticing divorce law. Look for two things: A divorce attorney who know the value of a quick out-of-court settlement but is also willing and prepared to go through an extensive litigation.
2. Gather Financial Information
One of the primary reasons for going to divorce court is to make an equal distribution of marital assets and debt. Determine what you own. Some assets are obvious, a shared home, financial accounts, and vehicles are assets that should be split equally. However, there is a multitude of assets that are not so obvious, such as belongings brought into the marraige, personal artwork, and even pension plans. Collect a list of all possible assets at present value and hand it over to your divorce attorney before going to court.
Next, determine what you owe before going to divorce court. When determining what you owe, the name the debt is filed under does not matter. Marital debt wll be split based on who is more financially able to pay the debt. The easiest way to determine marital debt is to obtain a credit report. Also collect all financial statements with open accounts and balances due. Turn all these documents to your divorce attorney before heading to court.
3. Determine Your Income
You will need documentation showing your income and the income of your spouse. If you and your spouse work for a salary, recent pay stubs and your most current Income Tax Return. Determining income becomes more complicated when your spouse is self-employed. In those cases, copies of bank account statements and financial business statements will give a general picture of income. Prepare these documents for your divorce attorney to present in court.
4. Prepare Your Budget for a Post-Divorce Life
This is where you get to determine where you will live following the divorce. You need to know what your living costs will be after after divorce. Some people’s incomes drop drastically after divorce. Therefore it is extremely important to create a budget for yourself before going to divorce court. Your divorce attorney should be able to project any income that will come in as a result of the divorce.
5. If You Don’t Have a Credit History: Establish one now.
Spouses who were dependent or jointly listed on their spouses credit card and have little other credit information will find it difficult to apply for car and home loans, which are probably the first two purchases you will have to make following a divorce. While you may have equally shared the responsibility of paying off debt, following a divorce, the many years of making credit card payments will have only helped boost his rating. Becareful about racking up too much debt, only spend as much as you can pay off each month.
6. Close All Joint Credit Accounts
While it may seem obvious, making sure you close all joint accounts prior to going to divorce court can ensure that an angry spouse will not angrily run up a debt that will hurt you later.
7. Don’t Move Out Yet
One of the more common questions during divorce court proceedings is when to move out of the marital house. Moving out too early can affect the equity you have in the property, as your estranged spouse will continue to live in, and pay for, the house possibly affecting the judge’s final decision about property distribution. If you must move out and are still paying for the marital home’s mortgage, make sure to carefully document any payments and provide them to your divorce attorney.
8. Finally, And Most Importantly, Be On Your Best Behavior.
Divorce means you will be under microscopic scrutiny. You don’t want to behave in a way that gives your spouse the upper hand. This is especially important when there are custody issues involved. If you plan on keeping custody of the children it is best to avoid hard partying, coming home late, and openly dating in front of the children. This can skew the judge’s impression of the ‘victim’ in the case and subsequently alter the final settlement. Your divorce attorney will advise you to be on your best behavior, and you had best listen to them.







