Going through a divorce can be a complicated and overwhelming process. However, there are ways of getting through this difficult ordeal as quickly and amicably as possible said an attorney from Holtz Law. Knowing what steps to take in preparation for divorce can help make the entire process more fair, peaceful, and free of drama.
While divorce is a legal matter that must be filed and granted by the courts, when you really take a closer look you will learn that it is less about the law than it is about negotiation and who gets what in the end. Given that every situation is unique, very few specific formulas exist that outline exactly who should get what in a divorce. Therefore it is up to both spouses to negotiate a fair and equitable financial settlement. Because it is more about money and negotiation, mediation is often a better forum to resolve divorce issues.
Key Consideration when Preparing for Divorce
– Are you currently able to make ends meet?
When you separate from your spouse a lot of extra expense is created as there is suddenly two of everything, housing payments, utility bills, health insurance, etc. Volume discounts and family share plans such as multi-car discounts on auto insurance, and cell phones will be lost. If you are carrying a personal credit card balance for something you bought for the joint household or have been using your credit card to supplement your daily living expenses you will have to decide how to negotiate these payments with your spouse before the divorce is granted.
– Can you afford to stay in the house after the divorce?
If you will be staying in the house for the children’s sake you will have to think about your ability to pay the mortgage, utility bills, and maintenance upkeep. Other expenses to consider are the possibilities of repairs to the house, HVAC system, appliances, and plumbing. A neutral 3rd party divorce mediator can help you take a critical look at your situation and determine whether staying in the house is a viable option for you.
– How stable is your and your spouse’s jobs?
If you and your spouse currently need both of your jobs for income and there is a possibility that either of you may be laid off in the near future, it may be better to postpone the divorce for a while. If you will be relying on your spouse for alimony or child support you want to ensure that their job will be secure for the foreseeable future. When discussing this issue it is important to negotiate not only the amount and duration of the alimony or child support but under what conditions it can be suspended or terminated.
– What will your new single life cost?
Take some time to research how much your post-divorce expenses will be. Many divorced people are caught off-guard when they discover that the alimony and child support they receive does not fully cover the bills. A divorce mediator will look at the expense profiles of both parties and identify ways to help support the children and free up income for your new lives apart that are fair and acceptable.
– What will the actual divorce cost?
The cost of divorce is a major financial consideration that can be contained if couples can mediate their divorce settlement and put their differences aside. You will spend far less on divorce costs than hiring a family law attorney for litigation.