Planning for Divorce
By preparing for a divorce before it actually happens, you can reduce much of the stress and conflict that many people face when they rush the divorce process. Planning ahead allows you to make sound decisions and start preparing for your life after divorce, as well as helping you to avoid some of the post-divorce pitfalls. Below are some things to think about as you begin preparing for a divorce:
Begin With a Plan
Determine a fair and realistic list of goals so that you can determine what you want out of the divorce. The following questions will help you begin a set of priorities that you will eventually need for a Separation Agreement:
Have You Hired a Divorce Attorney Yet?
If so, ask him or her about the next steps to take. If you haven't hired one, now might be the time to do it. You cannot afford to allow the case to move to the temporary order stage without having an aggressive advocate on your side. Even though temporary orders are supposed to be just that – temporary – you should be on guard. This sets the stage for what is to come, especially if the case is protracted. This is especially true in matters of custody and visitation. Courts are reluctant to create upheaval in the lives of children who have settled into a new routine, unless given a good reason to do so. Thus, if you find yourself in a situation that makes you unhappy, act quickly to get an order in place that sets the legal rights and parameters with which you can live.
Once you have hired an attorney, ask him or her about the following points, getting his or her advice on each:
- Since judges usually enforce the status quo, it behooves you to start the things now that you will want to continue after your divorce. For example, go back to school, get braces for the children, begin medical treatments, etc.
- Open a post office box that you can use for mail before you separate and while you are in the process of divorce. Confidential information can be sent to you there, and it provides a stable mailing address as your life changes.
- Cancel all joint credit cards, including charge cards for various products and services. Even if the court won't hold you accountable for charges made by your spouse after you separate, you may be held responsible by the lender and have your credit affected.
- Run your own credit report and analyze it, looking for previously unknown debt obligations. Start now to reduce risks to your credit rating, and work to improve it.
- If your former spouse intends to work with the accountant you used as a couple, ask your friends or business associates for a recommendation to another financial professional.
- As you start collecting financial records, look for any suspicious banking activities, such as repeated withdraws of sums such as $505 (suggesting conversion to traveler's checks for $500 plus a 1 percent fee of $5).
- Maximize cash assets in your individual name.
- Check with your lawyer before transferring money in and out of accounts. There are no absolute rules in this area. Each case is unique.
Start Gathering Information and Documents NOW!
Unless you already have a good working knowledge of all your accounts and resources, it is important to start gathering records and documents now. Even if you believe that your spouse will be completely fair with regard to money, you must take steps to educate yourself about your financial situation.
Start gathering tax returns, business records, investment and retirement account statements, tax bills, receipts, canceled checks, savings account passbooks, credit card statements, safe deposit records and activity, medical records, and any accounts related to your children.
If you fear that your former spouse will dissipate joint accounts, even though there is a court order against it, contact the financial institution and ask that accounts be frozen and that no trading or withdraws should be allowed.
You should also take things out of the home if they indisputably belong to you. Jewelry, computer records, your collection of CDs and DVDs, family heirlooms, etc. are all items you should make preparations for.
Additionally, those items too large for moving ought to be photographed. Anything worth over $500 should be inventoried – paintings, pieces of furniture, consumer electronics, etc.
The Massachusetts Family Law Group has offices in Norwood, and Springfield. We also have our offices in Salem, Lawrence, Marlborough, Fitchburg, Northampton, and Marshfield. This enables us to super-serve people throughout Suffolk, Middlesex, Essex, Norfolk, and Worcester Counties.
For a free, no-obligation consultation, call (800) 763-1030 or contact us online. If we do not have an office or consultation site near you, our attorneys will come to your home, office, or any location that is close and convenient to you. We meet clients 24/7 – even at night and over the weekend!
