Prepare For Your DivorceNov 13, 2023
Preparing for a divorce is so important because it helps you get a better outcome and save money on attorneys' fees. Part of your preparation is understanding your finances as you're considering divorce or getting into the divorce process. You can't get the right settlement if you done know enough about your money: how much you have, where it is, and what your money has been spent on.
But where do you start?
My free Planning for Your Divorce guide will get you started on the right foot. It's a short guide that gives you everything you need to know to start protecting your money during this difficult time.
Divorce can be one of the most stressful times in someone's life, second only to death in difficultly! I know this because I've been through hundreds of divorces with women just like you. I do not want you to have to tackle the financial stuff on your own, so I've created all sorts of resources to coach you through the financial part of your divorce.
In my Planning for Your Divorce resource, we start with a checklist of some of the most important documents you should start gathering. These are critical documents that you'll need in order to move forward, both in life and in your divorce. Think of things like birth certificates, details about your marriage, and your prenuptial agreement (if you had one).
Then we move into critical steps that are specifically related to your finances. This is where we get into the "protect yourself" part of things.
One of the most important steps here is opening a checking account in your name alone – If you have money in joint bank or investment accounts, ask your attorney how much he or she recommends you transfer to this new account. Your goal is to secure some money that your spouse can’t access. You will need money for an attorney and other expenses as you move through your divorce, so it's important to have this money in an account that can't be accessed by your ex. Keep your money safe!
You'll also want to start gathering all of the financial documents that you have legal access to:
- Bank account statements
- Credit card statements
- Investment account statements
- Retirement account statements
- Tax returns
- Other financial documents
You'll want to get any documents you can think of that may impact your financial life. And it's important to get this information NOW while you still have access to it. As people enter into the process of divorce, I often see documents disappearing or online access being taken away. If you have access now, get the documents and secure them now so you don't have to worry.
Taking these three steps is an important part of preparing for your divorce. While divorce can be incredibly painful and difficult, preparation can help you make the most of this time, get the most out of your divorce settlement, and start to rebuild the life YOU want. Your future is in front of you.
Download the full Planning for Your Divorce resource here.
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