If you’re thinking about starting the divorce process, there are steps you can take before you officially begin. As we all know, separating from you spouse is complicated; it involves money, custody issues, child support, spousal support, and other legal aspects. You need to educate yourself, protect yourself and empower yourself on these issues. Until you’ve done that, you’re not ready.
For example, do you know how many bank accounts you have as a couple and individually? Any other marital assets you might be entitled to? We recommend consulting with at least three attorneys as you explore the option of divorce.
In a 2017 article in the Huffington Post, Dr. Phil McGraw suggests that you take his “Divorce Readiness Test” before moving forward.
Dr. Phil’s Questions about divorce:
- Have you done everything you can to save and rehabilitate your marriage?
- Do you have unfinished emotional business?
- Have you researched, planned, and prepared yourself legally for divorce?
- Are you ready to adopt a new standard of conduct with your children?
- Are you willing to create a new relationship as a co-parent?
Our thoughts.
Here is our take: These questions are important to consider before embarking on dissolution proceedings. If you enter divorce proceedings without having them answered the process will typically take longer and cost more money because the unanswered questions will play themselves out in conflict during negotiations.
Or course, Cross Roads Divorce Advisors gravitate directly to question #3 because it deals with money and we agree it is absolutely mandatory to do your homework before filing if possible. Find the family bank accounts, copies of tax returns and investment account statements and research the options available for settling your differences outside of court.
However, it is also crucial to work with other professionals – attorneys, mental health professionals, mediators – in order to make the other aspects of divorce go as smoothly as possible. By researching and finding the best team for you and your family, you are more likely to ensure a successful outcome.
This information is not intended to be a substitute for individualized legal advice. Please consult your legal advisor regarding your specific situation.
Lou Falvo is a Certified Divorce Financial Analyst® and CIMA® (Certified Investment Management Analyst) who assists clients by evaluating the tax and financial aspects of divorce. Lou is dedicated to reducing the burden of each client by thoroughly examining the financial elements of the client’s divorce, with a keen focus on what is in his or her best interests. Contact Lou to find out how he can assist you with your divorce proceedings at lfalvo@crossroadsdivorce.com or (585) 542-2382.