Do’s and Don’ts for a Good Separation Experience
You can have a much better separation experience if you pay attention to the below do's and don'ts. These tips can help you be ready for common hiccups and actions before they happen.
Do Get a Lawyer Right Away
Don't wait until you are sure you want to divorce before speaking to a lawyer. It's always better to snag the best lawyer before your spouse can. Also, the separation period is part of the legal process of divorce and you need to get ready by seeking advice early on.
Don't Neglect Your Rights
Many divorcing spouses leave money on the table during a separation. Important financial matters like child support, spousal support, use of the family home and vehicles, debt responsibilities, and more need to be addressed during your separation. You never know how long your divorce will take so don't put those things off.
Do Consider an Agreement
Even though not all states require divorcing couples to have a legal separation agreement, it's too helpful to disregard regardless. Ask your lawyer about drawing up an agreement that covers nearly every aspect of divorce. That not only makes for a smoother separation but a smoother divorce too since many aspects of a legal separation agreement can be folded into the final divorce decree.
Don't Withhold Financial Information
As the lead-up to divorce, you will be asked to provide some very personal but important financial information to your lawyer and your spouse's lawyer. Financial disclosures allow a fair distribution of property, debt, and closely affect child and spousal support. If you or your spouse withhold anything, it can prompt expensive and time-consuming actions like subpoenas and forensic accounting audits.
Do Make a New Budget
Your post-divorce budget won't be anything like your current one so get started on a new one immediately. Doing so provides you with sobering but vital facts about your financial life going forward. Knowing what your budget will look like after the divorce could give you the heads-up you need to ensure you get what you are entitled to in the divorce.
Don't Assume You Want the Home
The family home holds a lot of emotional baggage. If you are asking for the home in the divorce, know the costs associated with it beforehand. That being said, real estate prices are extremely inflated in many places now and that should go into your decision too. If you sell the home, the money will probably be good. However, you now need to rent or buy another home and that may not be as easy as you think.
Speak to a divorce law firm to find out more.
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