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How do you prepare for divorce before you file?

How do you prepare for divorce before you file?

| Mar 22, 2021 | Divorce

If you’re preparing to file for divorce in Washington, D.C., area, there are steps to take to protect your finances. You’ll need your own checking and savings account where you can keep your own money separate from your spouse. Close any joint accounts you share with your spouse to prevent them from spending your money. A high-interest savings account is a great option because you don’t have to pay any fees to keep it open each month.

You’ll also need to photograph and write down all of your assets to ensure that everything is divided fairly. A family law lawyer may provide additional assistance with other steps to take.

Know your net worth

It’s vital to get an idea of where you stand financially before you file for divorce. This is a time when you should obtain a credit report if you plan to apply for new credit cards, a rental property or even a new car loan. You’ll need to establish credit in your own name to ensure that you can borrow money for a new home or vehicle.

You’ll also want to gather proof of your income by collecting your recent pay stubs. If you or your spouse are self-employed, this can be a more tedious and lengthy process. You’ll also want to create a budget that you can use to manage your finances once you file for divorce and separate to determine what you can afford to live off in the future.

Who can you contact for legal assistance?

If you want to learn more about preparing for divorce to protect yourself, reach out to a family law attorney. A legal professional may provide you with legal defense if you need to head to court. An attorney may also be able to assist you in obtaining restraining orders, dividing real estate and obtaining temporary spousal support.

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