Getting Divorced? Here are Five Steps to Take First
Making the decision to get a divorce is never easy, but it is also difficult to remain in an unhappy marriage. This is certainly an emotional time and you have a lot to think about. You may have to find a new place to live and consider how you will afford to live as a single person. With so much on your mind, it is easy to overlook certain details, but it is important that you do not. Below, one of our Franklin divorce attorneys outlines the five steps to take before you file.
Collect Important Documents
Divorce involves a lot of paperwork and it can help to have it on hand before you file. Go through all of your paperwork and take copies of important documents, which may include:
- Bank statements
- Tax returns
- Investment statements
- Check registers
- Retirement account statements
- Automobile titles
- Social Security statements
Take Inventory of Marital Property
Any assets or debt you acquired with your spouse during the marriage is considered marital property. Take a full inventory of furniture, jewelry, artwork, appliances, vehicles, and any other property you acquired with your spouse during the marriage. Also consider any business or family home you or your spouse owned. Also remember to check any safety deposit boxes as well. Once you have a full inventory of marital assets, assign them each a value.
Taking inventory of your debt is just as important as creating a list of marital assets. If possible, you and your spouse should pay off as much debt as possible before you divorce, as it is one of the most challenging items to negotiate during proceedings.
Make a Realistic Evaluation of Your Earning Potential
Perhaps during the marriage you stayed home to take care of the household while your spouse went to work. Or, maybe you took a part-time job with more flexibility so your spouse could focus on their career. Regardless of the situation, it is important to know what your earning potential is so you can understand the income you will earn post-divorce. This can help you determine whether you need to pursue alimony.
Start Saving
Divorce is expensive and afterwards, you will need to start a new life, which is also costly. Start saving now by placing funds in a separate bank account and once you have a nest egg, then file for divorce. If you are the one to file you will have to pay court costs, attorney fees, and other expenses. If your spouse becomes resentful, they may also stop paying bills. Having some savings set aside can provide the support you need in any event.
Speak to Our Divorce Attorneys in Franklin
Going through a divorce is a legal process as well as an emotional one. At Beal | Crutcher, our Franklin divorce attorneys can prepare you for the process and provide sound advice so you can make the best informed decisions. Call us now at 615-861-2304 or contact us online to schedule a consultation with one of our experienced attorneys.
Source:
casetext.com/statute/tennessee-code/title-36-domestic-relations/chapter-4-divorce-and-annulment/section-36-4-101-grounds-for-divorce-from-bonds-of-matrimony
