There are few things in life that should be taken on without planning. Life events such as divorce are no different and can be particularly important because of its financial and emotional impact. With that in mind, there are some steps that should be taken as one prepares for a divorce:
- Gather and organize information such as household finances, assets, debts, other sources of income, retirement information and insurance documents. It is important to preserve this information so that it is available to use in your case.
- Determine your necessary living expenses and begin saving for your divorce related expenses such as a separate living arrangement and legal costs.
- Decide whether joint bank accounts and credit accounts need to be frozen. This could be helpful in the event the other spouse attempts to take unauthorized monies out of the account or run up unauthorized credit.
- Determine whether to maintain the family residence. The important thing to remember here is that many couples use the combined income from both parties to purchase the family home. It sometimes becomes difficult for one party to maintain the residence when the divorce is finalized.
An experienced Douglasville Divorce and Family Lawyer can help guide you through this decision. If you have questions about a family law related matter contact our law firm today for a free consultation