|
 Feature
|
|
PLAN YOUR
DIVORCE AS CAREFULLY
AS YOU PLANNED YOUR WEDDING |
Here are the
steps to take to plan for divorce:
- Write a narrative for your
attorney detailing the date you began living together, the date you married, your
children's birth dates, previous separations, when various assets were acquired, and the
separate property either of you brought into the marriage or inherited.
- Gather information about what
you own and what you owe. You'll need copies of financial statements, tax returns,
retirement plan documents, brokerage statements and insurance plans.
- Obtain detailed information on
each retirement plan in which you and your spouse have participated.
- Pay bills and credit cards from
joint funds before separation, so you don't get stuck with them later.
- Find out what is in the safe
deposit box. Secure both keys, if possible.
- Prepare a spending history for
last year from your checkbooks to determine future needs and where to cut back.
- Before separation, use joint
funds to repair your automobile and home, buy clothes for yourself and your children, and
get needed dental work and medical checkups. If you wait until after separation, those
expenses will be yours alone.
- Set aside cash reserves to use
in the first few months of separation. Transfer your share of joint funds to your separate
bank account.
- Apply for credit cards in your
own name. If possible, obtain credit cards with checkwriting privileges.
- Discuss divorce with your
spouse as calmly as possible. Find out what his hot buttons are, and where he is willing
to make concessions.
- Find a good therapist or
support group to help you through the months ahead. Divorce is too traumatic to go through
alone.
- Take your time and don't rush
matters. Planning a divorce is best done deliberately and slowly. This is your chance for
a new beginning.
return
to Dollars & Sense article index |
 |
|
