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Women Tips on Divorce!

If you are thinking about ending your marriage, or are currently in the divorce process, the most important thing you need to do is accept responsibility for the outcome of your divorce.  Due to a woman’s standard of living generally drops at least thirty percent after a divorce, the decisions that you make now can have a considerable effect on your future.

It is wise to establish a plan of action instead of going into your divorce blindly.  Begin by educating yourself and learning about what the divorce laws are in your specific state.  If it is certain that your marriage will end, be sure to use the following divorce considerations to protect yourself.  Most importantly, if your spouse has initiated proceedings, do not sign anything until you are represented and informed by your own attorney.  Be sure to retain your own attorney to level the playing field and have fair representation if necessary.

Divorce Considerations on a Financial Status: Consider consulting a financial planner that is skilled in divorce proceedings.  They can help prepare you financially before you start your divorce, and point out areas of your settlement that will have repercussions in the future.  Keep the following suggestions in mind as you think about divorce:

  • Do not make any big purchases that will add to your debt.
  • Start to save money now for emergencies before and after your divorce.
  • Put a freeze on all your joint credit card accounts.
  • Keep working to secure your own future.
  • If you have your paycheck automatically deposited into a joint account, set up an individual account, and have the deposits made to it.
  • Keep all individual assets separate

Think about Support after the Divorce:

  • You are eligible for maintenance and child support during separation and divorce proceeding.
  • Child support is not taxable.
  • Your ex’s bankruptcy won’t affect the child support order.
  • Spousal support is taxable.

Divorce Considerations on Property and Assets: Consider the tax implications of any property received in the settlement

  • The marital home is exempt from this tax, but be realistic about whether you can really afford to live there.
  • A cash settlement is preferable to installment payments as part of a divorce settlement.

Divorce Considerations on Taxes and Liens:

  • Contact federal and state tax departments to see if there are any outstanding taxes owed.  Remember that you will be held just as liable as your ex.
  • Check at the county court house to see if there are any liens placed on any of your property.  Think twice before receiving such property in a settlement, unless your ex can pay off the lien before the divorce is finalized.

Divorce Considerations on Documents and Records: It is important to have copies of all records and accounts, since they have a way of disappearing once proceedings have begun.  With copies, you have all the relevant information that you will need in the future.

If you are fully prepared with all the above and are ready to take the step to begin your divorce process.  I would highly recommend you go www.mydivorcedocuments.com to begin your specific state divorce online today.  Not only will you save a ton of money but you will save time as well.

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