To Do List For Divorcing Parents
Divorce can be frightening, but being informed and prepared can help ease the process.
Remember to take your time and don't rush matters.
Planning for divorce is best done deliberately and slowly.
Here are some suggestions for divorcing parents, or parents contemplating a divorce to consider: 1.
Investigate community resources for counseling, support groups, and financial assistance, and talk to family and friends who have recently been through divorce.
2.
Keep a divorce notebook to list all problems concerning impending separation and divorce.
List each step that you take in the divorce process, including a summary of all telephone calls and conferences with your attorney and accountant.
3.
Make a written list of the questions you want to discuss with an attorney.
Then, consult a lawyer about your legal rights.
Ask about collaborative divorce to determine if it is an appropriate alternative to a contested divorce.
4.
Before you separate, and while you are in the process of divorce, open a post office box that you can use for your mail if you and your spouse are continuing to share the same residence.
5.
Write a summary of details of your marital history.
Include the date you began living together, the date you married, your children's birth dates, any previous separations, when various assets were acquired, and the separate property either of you brought into the marriage or inherited.
6.
Gather information about what you own and owe.
You will need copies of financial statements, tax returns, retirement plan documents, brokerage statements, insurance policies, deeds, credit card statements, bank account records, etc.
7.
Obtain detailed information on each retirement plan in which you and your spouse have participated.
8.
Get estimates of the value of the property you own.
9.
Find out what is in the safe deposit box and if possible, secure both keys.
10.
Using your checkbook and credit cards, prepare a spending history for last year so you can determine your future needs and decide where to cut back if necessary.
11.
Before you separate, use joint funds to repair your automobile and home, buy clothes for yourself and your children, and get needed dental work and medical checkups.
12.
If possible, set aside cash reserves to use during the first few months of separation and make arrangements to secure funds for retaining an attorney.
13.
Consider transferring your share of joint funds to your separate bank account.
14.
Consider paying bills and credit cards that are in your name from joint funds before separating, so you do not have to worry about your credit rating being damaged.
15.
Apply for credit cards in your own name.
If possible, obtain credit cards with check writing privileges.
16.
When you are ready to separate, close joint credit card accounts, get control of both cards issued on accounts, and notify creditors that you will no longer be responsible for your spouse's charges on accounts.
17.
Make a list of which assets you would like to keep if you divorce, and what you are willing to give up.
18.
Consult with your accountant about the tax consequences of various options, especially of keeping the house.
19.
Begin negotiation discussions with your spouse, as calmly as possible.
Find out where he or she is willing to make concessions.
These suggestions are not meant to be comprehensive in nature, or to be legal advice.
Certain suggestions may not be applicable to your circumstances.
Please consult an attorney regarding the specific circumstances of your case.
Remember to take your time and don't rush matters.
Planning for divorce is best done deliberately and slowly.
Here are some suggestions for divorcing parents, or parents contemplating a divorce to consider: 1.
Investigate community resources for counseling, support groups, and financial assistance, and talk to family and friends who have recently been through divorce.
2.
Keep a divorce notebook to list all problems concerning impending separation and divorce.
List each step that you take in the divorce process, including a summary of all telephone calls and conferences with your attorney and accountant.
3.
Make a written list of the questions you want to discuss with an attorney.
Then, consult a lawyer about your legal rights.
Ask about collaborative divorce to determine if it is an appropriate alternative to a contested divorce.
4.
Before you separate, and while you are in the process of divorce, open a post office box that you can use for your mail if you and your spouse are continuing to share the same residence.
5.
Write a summary of details of your marital history.
Include the date you began living together, the date you married, your children's birth dates, any previous separations, when various assets were acquired, and the separate property either of you brought into the marriage or inherited.
6.
Gather information about what you own and owe.
You will need copies of financial statements, tax returns, retirement plan documents, brokerage statements, insurance policies, deeds, credit card statements, bank account records, etc.
7.
Obtain detailed information on each retirement plan in which you and your spouse have participated.
8.
Get estimates of the value of the property you own.
9.
Find out what is in the safe deposit box and if possible, secure both keys.
10.
Using your checkbook and credit cards, prepare a spending history for last year so you can determine your future needs and decide where to cut back if necessary.
11.
Before you separate, use joint funds to repair your automobile and home, buy clothes for yourself and your children, and get needed dental work and medical checkups.
12.
If possible, set aside cash reserves to use during the first few months of separation and make arrangements to secure funds for retaining an attorney.
13.
Consider transferring your share of joint funds to your separate bank account.
14.
Consider paying bills and credit cards that are in your name from joint funds before separating, so you do not have to worry about your credit rating being damaged.
15.
Apply for credit cards in your own name.
If possible, obtain credit cards with check writing privileges.
16.
When you are ready to separate, close joint credit card accounts, get control of both cards issued on accounts, and notify creditors that you will no longer be responsible for your spouse's charges on accounts.
17.
Make a list of which assets you would like to keep if you divorce, and what you are willing to give up.
18.
Consult with your accountant about the tax consequences of various options, especially of keeping the house.
19.
Begin negotiation discussions with your spouse, as calmly as possible.
Find out where he or she is willing to make concessions.
These suggestions are not meant to be comprehensive in nature, or to be legal advice.
Certain suggestions may not be applicable to your circumstances.
Please consult an attorney regarding the specific circumstances of your case.
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