Contact A Divorce Attorney
If you think you might want to get a divorce, the time to see an attorney is right then and there. You don’t necessarily have to be certain about getting a divorce, but it’s important to find out what your next steps should be if you do decide to go through with it. If your spouse is also seeking a divorce or you suspect they are looking for a separation attorney, then you should also act soon.
People often make the mistake of brushing off divorce talks and early signs of an incoming marital separation. Don’t make this mistake. Instead, take the possibility of divorce seriously and prepare wisely with the guidance of an experienced family law and divorce attorney.
Prepare Yourself If You Suspect That Your Spouse Is Planning For Divorce
Many clients I have spoken to are unsure of where to find their financial documentation, do not know any passwords associated with their accounts, or are unaware of their bank account or credit card information. Consequently, when they come into my office seeking advice, they often have many questions and barriers.
As a divorce attorney, I often hear clients say that they have their own credit cards and their spouse has their own credit cards. There is a common misconception among couples getting a divorce that any debt they have accrued during the marriage is only owed by the person who took out the loan or ran up the credit card bills. However, this is not the case. In reality, any debt amassed during a marriage is considered to be marital debt, and both parties are responsible for paying it back. So if your spouse has racked up $20,000 in credit card debt, you could be on the hook for half of that.
If you’re considering a divorce, it’s important to know your finances and your spouse’s finances. In many cases, the financial settlement, spousal support, and child custody arrangements are the main sticking points during divorce proceedings. These topics are life-changing, so this can be a difficult and emotional process, but if you’re well-prepared financially, it can be much less stressful. Knowing your assets and liabilities is critical in divorce proceedings, as is being honest about your financial picture. If one spouse is hiding assets or income, it can create big problems.
Think About Seeing A Financial Advisor
When it comes to divorce, many people wonder whether or not they need to hire a financial advisor. The answer to this question depends on each individual’s unique financial situation. If the divorcing parties have retirement accounts, IRAs, stocks, or bonds, then it may be beneficial to consult with both a financial advisor and an attorney. Providing advice on financial decisions is outside the scope of a legal expert and falls in the territory of a professional financial advisor. Divorce attorneys may provide a less comprehensive overview of how finances will be handled during the divorce process but provide no financial advice.