Have you decided to file for divorce, you may be ready to file the papers and move on. While you may want to get things over with as quickly as possible, rushing the process is never a good idea.
Preparing for divorce is important. Some steps to help you with this can be found here.
1. Gather the needed financial documents
Gather all financial documents and review them to ensure you understand your situation. It is beneficial to know the approximate values of assets and debts, which must be divided in a divorce. It is also smart to consider anything you owed before your marriage, which is considered separate property and not included in the asset division process.
2. Create a budget
You can create a new budget when you have a better understanding of your financial situation and how it may change after divorce. You may need to think about ways you can save money. One example would be cutting the cord for traditional cable and choosing a streaming service. Your post-divorce finances will likely look significantly different than when you were married and had a two-income household for handling bills and other costs.
3. Separate your money
You likely have joint credit cards and bank accounts open. It is wise to separate these before you file for divorce. Open new accounts in just your name. If your credit needs work, consider a secured credit card. This will help you build credit and eventually open unsecured cards.
Filing for divorce is a big decision. If you are ready to take this step, it is important to know your legal rights and options. This will help you protect yourself and your future.