After making the decision to divorce your spouse, there are some things that you may be able to do to prepare yourself, as well as to facilitate the upcoming process. To give you some insight as to what you can do to get ready for divorce, in this three-part blog series, we will reveal some helpful divorce planning tips.

While keeping these tips in mind can help save you time, money and/or stress in your upcoming divorce, you can get further, experienced help with your upcoming divorce by contacting trusted Centennial Divorce Attorney Bruce H. Rabun.

Essential Divorce Planning Tips

Tip #1 – Get together as much of your significant financial documents as you can.

These divorce planning tips can help you save time and money while maybe even reducing your stress in your upcoming divorce.

These divorce planning tips can help you save time and money while maybe even reducing your stress in your upcoming divorce.

Given that one of the primary aspects of the divorce process will be to split up your marital assets and property, one of the first things that can be important to do as you prepare for divorce can be to get a clear picture of your marital financial affairs. To this end, it’s smart to get together and make copies of as much of the following documentation as you can get ahold of:

  • Tax returns for recent years
  • Mortgage loan documents and/or any ownership titles
  • Paystubs
  • Insurance documents
  • Documents related to retirement accounts and/or pensions.

Such documents can paint a far clearer picture of what your marital property and other assets may be, and this can be crucial to figuring out some (if not most or all) of the issues related to the division of assets in divorce.

Tip #2 – Get a picture of your marital debt situation.

Just as your marital property will be divided in divorce, so too will your marital debt if you and your spouse have any shared debt obligations. So, to fully complete the picture of your marital financial status, getting a clearer picture of your total joint debts will be important.

In this effort, here’s what you should know:

  • Compiling statements for your joint credit cards and/or any other joint lines of credit you share with your spouse can help you better evaluate your marital debt situation.
  • Whether you and your spouse can come to an agreement about how to deal with your marital debt – or whether this determination ends up being made by the courts, you will still be legally responsible for repayment even if your partner is the one who agreed to or was ordered to repay the debt. This means that your creditors can still sue you, garnish your wages and/or attempt to repossess your assets if a default on this marital debt occurs after your divorce.

We’ll present some more helpful divorce planning tips in the two additional installments of this blog series that will be posted soon. Be sure to check them out!

Centennial Divorce Lawyer at the Law Office of Bruce H. Rabun, LLC

When you are you considering divorce, you can turn to experienced Centennial Divorce Attorney Bruce H. Rabun to provide you with caring, aggressive representation and the highest quality legal services. For more than 30 years, Bruce H. Rabun has been dedicated to providing each of his clients with personal representation so that he can effectively guide them through life’s changes.

To find out how Centennial Divorce Attorney Bruce H. Rabun can help you, attend an initial consultation today. You can schedule this meeting by calling (303) 221-7899 or by emailing our firm using the contact form on this page. From our office in Centennial, we represent people throughout the Denver metro areas, Arapahoe County, Douglas County and Jefferson County.

Categories: Blog, Divorce, Family Law, Planning/Preparing for Divorce