Did you know that January is often labeled “Divorce Month”? Typically, more divorces are filed in January than any other month of the year. There are a number of theories as to why, but our goal is to help prepare you in case January finds you considering divorce.
Forbes magazine has written an informative piece giving an “End-of-Year Checklist for Divorcing Women”. The checklist is not exclusive to women, it applies to men as well. The article focuses on steps you can take to financially prepare yourself to ensure a smoother process.
First, the article recommends collecting your financial documents. This is imperative to have copies of all financial documents. You will need these documents for your attorney for many reasons. They will be used when determining division of assets and debt, child support and more.
Another helpful suggestion from Forbes is to open new accounts in your name at new financial institutions. This includes checking, savings and a credit card account. Securing your own credit is important and will make the transition smoother when dividing up assets.
Finally, Lanae Harden, who chairs the Family Law Practice Group at Harden Jackson offers some of her own suggestions. She reminds you to be reasonable about expectations. Your lifestyle will change. Ultimately there will be two households and two sets of expenses. And the more adversarial your divorce, the more you and your spouse will be spending of your income and assets in order to divide them. Set goals and keep the big picture in mind.
Remember, these suggestions are not meant to be legal advice. You should consult an attorney to discuss the specifics of your situation. If you have questions, you may contact our firm at 317-569-0770 or www.hardenjacksonlaw.com
To view Forbes End-of-Year Checklist for Divorcing Women, go to: http://www.forbes.com/sites/jefflanders/2011/12/06/end-of-the-year-checklist-for-divorcing-women/