How Do I Prepare For Divorce?
Setting goals is not always easy. It involves being realistic rather than hopeful, difficult choices, and thinking beyond the painful here and now. Where would you like to be in 5 years? What do you need to get there?
Part of the goal setting process should involve consultation with an attorney, and possibly a financial planner. One of an attorney's roles is to provide guidance about the likely range of outcomes to your case based on your unique situation. A good attorney helps to guide you in establishing realistic goals and a plan to reach them. A good attorney can direct you to a financial planner, life coach, accountant, or therapist, as needed to help you determine and reach your goals.
Getting information can be laborious - but it is crucial for the process AND to help with reaching your goals. Even better, the more financial information you can gather on your own, the less it costs you in attorney's fees! Get your credit report. Make sure you know exactly what debt and what open revolving credit is out there. Find out whether you can remain on the health insurance policy post divorce. Photograph your important personal property items. In what forms are your assets and what, if any, tax consequences are there if they are transferred or liquidated? Ask an attorney for advice on what other information is necessary to obtain for your particular circumstances.