Every marriage starts off wonderfully, but sometimes even when you think you have found the right partner that you can spend the rest of your life with, it can grow sour. Divorces are a common thing. In fact, 4 out 10 marriages end in either an annulment or divorce. Although getting the news that you’re being divorced can be pretty shocking, you shouldn’t spend much time obsessing over it.
It’s very important to take this time in order to carefully plan out how to protect yourself, your kids, and your finances as well. You should be aware that the average divorce costs somewhere between $15,000 and $32,000. On top of that, divorces are often a very difficult and lengthy process. This is especially the case for couples that have to split up valuable assets. In order to properly protect yourself during a divorce, you will need to keep your emotions out of this process.
The first thing that you need to do during a divorce is start planning ahead. This means that you need to find out exactly what you have and make copies. Records are one of the most important pieces of evidence that you can present during a divorce. They will essentially be the basis of your negotiations.
You should share records regarding loan applications, tax returns, credit card statements, banking information, insurance policies, insurance inventories, and more. It’s also a good idea to have a financial planner that will work with your divorce lawyer in order to get you the settlement that you want.
Apart from gathering different records, you should also start taking photos of all the valuables that are sitting around your house. It doesn’t matter whether you know the value of a specific item or not, when you see something like jewelry, china, art, or a car, you need to take a photo of it because divorcing spouses often hide assets. It’s also recommended that you make a list of all the valuable items that you brought into the marriage.
It’s important to remember that you’re entitled to half of everything that you acquired during your marriage. Just because you’re not fond of a certain item doesn’t mean that you shouldn’t take it. Just because you may not like that particular boat or coin collection doesn’t mean that you won’t be able to use it in order to trade it for something else. You should also keep in mind that if you helped put your partner through medical school, graduate school, or law school, you will be entitled to a certain amount of reimbursement for the cost of tuition.
In order to protect yourself and your children, you need to consider staying in the family home. If you decide to move out too soon, this decision may have an impact on custody later. However, sometimes it can be unbearable to stay in the same house as your spouse while a divorce is in progress. If you can’t manage to stop fighting, you should try time-sharing the family home until your divorce issues are all worked out.
You should also make sure not to allow your spouse to just take the kids and leave. Remember that they have absolutely no right to do this. If your spouse wants to leave, then they can go, but the children should stay in the family home. Although you may be going through a hard time with your partner, it’s important to find a way to go your separate ways peacefully, at least for the sake of your kids.
When going through a divorce, the most important thing is not to sign any papers or preliminary agreements. Most people make mistakes by doing this. If your spouse asks you to sign something, make sure to give it to your lawyer first.