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Preparing for a divorce and post-divorce life

On Behalf of | Jan 17, 2022 | Family Law |

Married couples planning on divorcing likely wish to move the process forward without delays. Adequate preparation could move things much faster inside a Texas courtroom. Yes, some matters involve complexities that make dissolving the marriage complicated. Regardless, things would likely move ahead better when the parties take necessary preparatory steps.

Preparing and planning for a divorce

Besides seeking appropriate representation for the proceedings, it would help to compile various essential financial documents. During the process, asset distribution, tax matters, child support, and other financial issues will come up. Having all the necessary statements and documents available could move negotiations more efficiently.

Liabilities often go hand-in-hand with financial accountings, and divorcing couples might need to review what they owe. Settlement negotiations may reach an impasse over who pays what obligations, and moving forward could prove challenging without debt-related balances and statements.

Further responsibilities for divorcing couples

Many things change when married couples become single once again, and both ex-spouses might benefit from viewing their post-divorce budget. Even with support payments, one income may not cover the costs of a lifestyle previously based on two incomes.

In some marriages, one partner may rely on the other to handle many duties. When the marriage ends in divorce, an ex-spouse could find these duties falling on his or her shoulders. Such responsibilities may include building or rebuilding credit, purchasing new insurance policies, and exploring a career change.

Failing to close joint accounts could prove disastrous. Imagine if an ex-spouse continued access to credit lines and financial accounts. Closing such accounts may need to be a top priority, as might making any estate planning changes post-divorce.