Pre Divorce Planning
Orange County Pre-Divorce Planning Attorney
If you are ready to divorce your spouse and would like to start thinking about your next chapter in life, you can begin pre-divorce planning. The pre-planning process will help you get organized about your finances, personal affairs, and property ownership. With a plan in place, you can protect yourself financially and prevent your life from falling into disarray once the marriage is over. Your planning can include your housing, where assets should go, and how you will continue your livelihood. A pre-divorce planning attorney can guide you by providing insightful advice and additional resources to help make your divorce a stress-free transition in your life. For more information, contact Kaufman Steinberg today for a free consultation.
How Does Pre-Divorce Planning Work?
Pre-divorce planning helps you plot out your next steps in life and can be considered your exit strategy from your marriage. Instead of thinking about how to get back at your spouse, you will be planning how to execute smart decisions by establishing what your life will be like post-divorce. Your preparation will give you a clear strategy before you inform your spouse that you are seeking a divorce. Once you have completed your pre-divorce planning and have enough financial resources saved up, you can start working towards a divorce.
What Are The Requirements To Begin?
When you begin your pre-divorce planning phase, you should start thinking about making these changes.
Organize Your Affairs
You will need to get all of your documents and paperwork organized before reaching out to your attorney. Get all of your past tax returns, investment accounts, bank statements, check registers, life insurance policies, mortgage documents, Social Security statements, and retirement account statements in order so you can show them to your attorney. You will also need to provide them with your financial and credit card statements so they are aware of your income, credit, and debts. Next, you will have to provide information on your assets, such as automobile titles, family trusts, stocks, physical property, and other relevant information. When you have all of this information on hand and ready for review, it will save you time and money.
Get Available Credit
If you apply for your own credit card, this can protect you from a spouse that cuts access to your shared credit card. It will also help you pay for things and make large purchases while you are trying to get a divorce.
Open New Accounts
Similar to credit card accounts, you should also open up a bank account in your name so that you aren’t prevented from accessing funds. Create a new checking and savings account in your name alone.
Reallocate Money
You will need to have sufficient funds to cover your expenses for a minimum of three months. This will be beneficial if your spouse prevents you from accessing your finances. It is a good idea to withdraw half of your marital assets so that you have enough money for living expenses.
Make Legal Adjustments
Change your living will as well as any medical directives before you begin your divorce. This is so that your spouse cannot make financial or medical decisions on your behalf if you were to become incapacitated. You can ask your pre-divorce attorney for additional information regarding disinheritance for your living will.
Get A PO Box
If you don’t have a friend or family member that you can send mail to, you will need a PO box. All of your important letters will be received by you and not your spouse to help prevent them from retaliating against you. This will also make sure all of your banking information and other mail will be kept confidential from your spouse.
Try To Stay Single
The court may look down on any romantic relationships that happen during the divorce. If your spouse brandishes your phone calls, texts, receipts, and other proof that you have been in a relationship during your divorce, this can make you at fault for the divorce.
Communicate With Your Spouse
Be honest with your spouse and try to collaborate with them on your divorce. This can make it easier to manage the financial, parental, and personal aspects of your separation. You can work together to create a post-divorce financial strategy.
What Are Areas I Should Focus On In Pre-Divorce Planning?
When planning for your divorce, you should begin thinking about these four components.
Career
A divorce can have a massive impact on your station in life and what you do for your career. Sometimes, making a new career move can be helpful when you are trying to support yourself financially. You might consider returning to school, getting a second job, asking for a raise, or applying for a higher-paying position.
Finances
You will need to manage your finances differently once divorced. Start thinking about how you’ll be spending money when you’re separated. You might need to budget better and spend less, or you may consider starting new investments.
Children
If you have young children who aren’t adults, you should start planning how you will spend time with them or take care of them. They may decide to live with you or your spouse, or the court may decide who gets custody based on each spouse’s income.
Future Goals
Your entire life will change after a divorce, so you should plan how you would like that to look. Where you will be living is a start because you may need to move out, downsize, move back in with family, or may even consider moving to another state.
Get Help From Pre-Planning Attorneys
When you’re ready to get started, reach out to divorce attorneys who can inform you of the best practices for pre-divorce planning. They have experience and resources that can make planning easier. Contact the family lawyer at Kaufman Steinberg for a free consultation.
“The bond that links your true family is not one of blood, but of respect and joy in each other’s life.”
– Richard Bach
– Richard Bach
