When Preparing For Divorce, Organization Is Key
There is emotional upset when a couple is divorcing, but there is also a lot of decision making and paperwork. While the process of dividing assets and liabilities is often not easy, there are steps you can take to make the process smoother. For example, getting your documentation organized as soon as possible.
Talk to a Bucks County personal injury attorney about what information you should be gathering to reach your desired results. Preparing now, even when the finalization of a divorce seems far off, will allow you a feeling of control and could result in a more favorable outcome.
Making a List of Accounts, Assets, and Debts
One way to get started is to simply make a list of all of your marital assets and debt responsibilities. This could include some or all of the following:
- Bank and financial statements
- Properties owned and outstanding mortgage documents
- Credit card statements
- Wills and trusts
- Investment account balances
- Insurance policies
- Prenuptial agreements
- Estate plans
- Documentation of annual incomes
- Retirement account statements
Collecting all of these records and keeping them in one spot will give the individuals involved, such as attorneys and mediators, an accurate assessment of the marital wealth that has been built and what debts need to be distributed or settled.
Assessing Your Personal Spending
Shifts in your financial life are common during a divorce. You may have taken on the added expense of renting an apartment when you and your spouse separated. Or maybe you are still paying on a loan you believe should be the responsibility of your spouse. But as your life moves forward, you will likely begin to see what financial figure you need for your post-divorce life. Then, you can fight for an asset and debt division that boosts, or at least maintains, your financial comfort.
If you are considering separating, have already moved out, or are further along in the divorce process, talk through the financial records you have compiled with a seasoned attorney. Then, you can learn more about how to fairly split liabilities and assets.
In many situations, court can be avoided. Particularly when the individuals involved are open to saving themselves the time and frustration of litigation and have prioritized the need for negotiation. Of course, there are situations when attorney discussions do not result in an agreement both parties are comfortable with. Then, other paths to resolution will need to be explored.
Share your detailed records with a Bucks County personal injury attorney. Your organization means your attorney will be able to get to work without delay.
Is it time for you to talk to a divorce lawyer? Whether you have just started assembling documentation or have a full folder with documents ready for review, reach out to the legal team at Kardos, Rickles & Hand. With extensive family law experience, our attorneys can assess the data you have gathered and determine if more information is needed to reach your post-divorce goals. To learn more about what resolution paths are an option for your unique situation, schedule an initial, no-cost consultation call 215-968-6602.