5 Steps To Take When Preparing For Divorce | Allan Brandon Tise, PLLC, Attorney at Law
A divorce is a major development in any person's life. The process has monumental legal, emotional, financial, and social implications. For instance, you may have to decide spousal support, child support, divide assets, and work on child custody. Learn how to prepare for divorce.
1. Determine What You Owe
The laws concerning marital debt vary from one state to another. In North Carolina, Equitable Distribution is used to determine marital debt.
2. Write Everything Down
If you haven't kept a diary in a long time, now may be the right time to start. Keep details of key events like who takes the children to school. Also, note down details of fights and arguments if and when they occur. Keeping records is important since you may not remember every detail when the divorce proceedings start.
3. Get Marriage Documents
Create a document file that contains paperwork that relates to your marriage. Discover some key documents to include in the file:
- Agreements. Safeguard all original and any existing postnuptial or prenuptial documents, powers of attorney, trust documents, living wills, and advanced healthcare directives.
- Marriage license. Get hold of your marriage license and store it in a secure place.
- Life insurance policies. Collect copies of life insurance policies for you and your partner.
Also, make digital copies of these documents and create an online backup.
4. Compile Key Financial Documents
Identify any important financial paperwork. The following is some of the paperwork to gather:
- Assets. Documents should include information about bonds, stocks, retirement accounts, medical bills, and bank accounts. Also, include statements from savings, checking, and brokerage accounts and credit cards.
- Retirement plans. Get all details about patient or retirement accounts and make copies.
- Tax returns. Make copies of any joint tax returns within the past five (5) years.
- Security deposit boxes. Get a detailed inventory of any deposit boxes.
Generally, the courts require parties to divorce proceedings to disclose all financial information. Therefore, do not forget to exclude anything when making the relevant copies.
5. Work Out a Separation Agreement
Some couples decide to create separation arrangements as they work on the divorce. The separation agreement can address any or all pending issues with custody, it is a better idea to do a court order on that issue.
Couples can also agree on the bill payment, child support, spousal support, and property division. Once the couples have decided, they can get lawyers to make a legally binding agreement.
For instance, the separation agreement can include the following details:
- Living arrangements . Before getting a divorce in some states, couples must have lived separately for a specific period. Expect disagreements on who gets to stay in the marital home.
- Spousal and child support . You can ask for spousal support or expect your partner to request spousal support but consult an attorney first before you decide whether to put child support and spousal support into a separation agreement.
Work With a Professional Attorney
Once you decide to get a divorce, an attorney will be your best partner throughout the process. Allan Brandon Tise, PLLC, is a family law office that offers multiple legal services.
Contact us to get help with divorce and child custody cases.
