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4 steps to take when preparing for divorce

On Behalf of | Oct 8, 2021 | Family Law

Preparing for life changes can help you approach them with greater confidence, and the end of your marriage is no exception. Before you file for divorce you may want to take some steps to protect your financial and emotional health.

1. Consider your priorities.

What details are most important to you once the court finalizes your divorce? If you have worked hard to build your retirement savings, for example, are you willing to let go of other assets to keep those savings intact? Do you particularly value keeping your children in the home they know best? Is managing your stress levels essential? Your priorities and goals in divorce can guide the decisions you make moving forward.

2. Gather important financial documents.

Before property division, it is important to have a clear understanding of the money, property and debt in your marital estate. This is especially important if only one spouse managed household finances.

Gather information about your income, recent tax returns, bank account statements, stock portfolios and other key aspects of your finances. Outline your household’s monthly budget. Write down the property you owned before the marriage and any inheritances or gifts you received during the marriage.

3. Reach out to a support system.

Divorce can bring significant emotional and financial changes to your life. During this stressful time, it is important to build a support system. Reach out to friends and family who can be there for you when things become difficult.

You may also want to seek guidance from legal and financial professionals during this time. Their advice can help you build a strategy that protects your rights and financial health.

4. Explore your options.

Your priorities in divorce are unique, and it is important to pursue the type of divorce that best reflects your wishes and your family’s needs. Is there significant conflict between you and your spouse, for example? Have they refused to work with you? You may need to pursue litigation.

On the other hand, can you and your spouse work together to reach a favorable outcome? Do you want to prevent conflict for the sake of your kids or your own health? A collaborative approach may be right for you.

By taking the time to prepare important details and explore your options, you may be able to approach your divorce with greater confidence and create the best possible start for the next chapter of your life.