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Setting your finances up before getting a divorce

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If your marriage has come to a point where you think there is no way that it can survive then, divorce might be the only option. Divorce can be expensive especially if you are a housewife and a mother. You need to start sorting things out before you file for a divorce. It is better to be prepared beforehand as it is a tough decision for all those directly involved. The legal obstacles are daunting in itself. Finding the best divorce lawyers can be a hassle and cost you a lot of money. Therefore, you need to take some precautionary measures to help you prepare for any unavoidable situations.

How to set your finances before filing for a Divorce?

We have listed a few key steps you should take before your divorce proceedings begin.

Understanding the Difference between contested and uncontested Divorce

There are two main types of divorces: Contested and Uncontested Divorce. Uncontested divorce is the one where the two parties are on the same page and agree on the divorce terms. If there is no clause where there is a dispute, then the process is pretty quick and simple.

However, a contested divorce is when one of the parties do not seem to agree on all the clauses of the divorce. It could be anything whether it is child support, parental responsibility or the division of assets. This depends on the circumstances of the divorce and your relationship with the spouse. Contested divorces are much easier to predict. If your gut is telling you there are going to be issued then you need to start prepping for the divorce ahead of time.

Open an independent bank account

Opening an independent checking account should be your first step so that you can access your funds throughout the proceedings of your divorce. It removes the risk of you being cut off from your financial source when you need it the most. You should also open up a new checking and savings account at a bank that is different from your spouse so that there is no overlap which will alert your spouse of a looming divorce before you intend them to know.

Moreover, you should get your checking and savings account linked so that you can access them when needed. You can also get a lock on your savings by putting them in a CD so that you can only access your funds when you need them.

Inventory all your important assets

You must document and photograph all your valuable assets before you file for a divorce. More often than not at the time of relocating many items and property is misplaced. This is a common occurrence in many of the contested divorce cases. If you have assets in the form of the property, then it is important to have the documents in place so that you have evidence and can keep a track of it at the time of the division of assets.

Find an experienced divorce lawyer

Finally, it is time to recruit a divorce lawyer who is well reputed in such matters. A good divorce lawyer not only will help you get your share but assist you in preparing for the divorce. Moreover, he ensures that you cover all your bases while making sure that all the above-mentioned steps are followed with due diligence.

Ending note

Divorce lawyers Fairfax VA who are well versed in their dealings provide you with all the information you need. This is vital for you, so that you can make an informed decision about yourself and your family that is going through a rough patch. So, reach out to an attorney as soon as you can before things get more complicated.

 

 

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