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How to prepare for a divorce

On Behalf of | May 21, 2021 | blog, Divorce |

Divorce is a big decision. No matter what led you to the point of contemplating divorce, it is a stressful process.

There is no legal separation in Texas. If you are thinking about divorce, you should start planning.

Gather documents

As you plan for divorce, gather all the information you can about your personal finances and your finances as a couple. Obtain copies of the past few years of tax returns. Make sure you have access to all joint financial accounts. Educate yourself about all bank accounts, retirement accounts, investments accounts and any other assets you jointly own. Gather documentation of everything.

Compile information about any individual accounts. Assemble a list of all debts owed. Include both individual debts and debts you owe as a couple. Having a clear picture of your full financial situation will be beneficial in planning to divorce. It will also help you determine what type of budget you should set for yourself post-divorce.

Look ahead

If you share children with your future ex, prepare for custody hearings. Make sure you stay involved in all aspects of the lives of your children. If you can demonstrate your involvement in their lives, you can strengthen your chances when it comes to custody arrangements or visitation.

As you plan for divorce, you should plan for your future living arrangements. Will you sell your shared home or will one of you remain there? If you need a new home, start looking as you start divorce planning. Living in a separate space, even a temporary rental, during divorce proceedings will lessen the stress involved.

As you prepare for divorce you should consider your social media activity. If you are unable to close social media accounts altogether during proceedings, you should restrict yourself from posting anything about the process until your divorce is final.