Going through a divorce can be a tricky life transition for any married couple. There’s a whirlwind of emotions, and matters to consider such as custody, spousal support, and separation of assets and debts. It’s no wonder the whole process can be overwhelming. And no matter what the circumstances are, most people are unprepared for the changes and surprises that come up during separation and divorce. However, there are steps to take, and advice to follow to best prepare yourself for an impending case, which we will now examine.
Determine Assets, Liabilities, and Income
When you get divorced, the court will divide marital assets, as well as marital liabilities and debts, no matter whose name the property or obligation is under; typically, marital property is anything acquired starting from the date of marriage and excluding inheritances. Meanwhile marital debt is debt accrued from the time marriage starts to when it ends in separation. By knowing precisely what you and your spouse own and owe, you will be better equipped for divorce negotiations and can ensure that you receive everything you are entitled to once you part ways with your partner. Knowing exactly how much your spouse earns is a critical factor when it comes to many issues in your divorce. For instance, child support and spousal support all hinge on how much your spouse earns. Determining what your spouse makes may be no easy task, and while their tax return is a great place to start, it should be just the beginning of your investigation.
Plan Life After Divorce
Before initiating these proceedings, you should do your best to prepare for life after divorce. Think about where you will live and work after the divorce. Make a post-divorce budget that reflects your cost of living and anticipated earnings, including estimated alimony and child support payments; your divorce attorney can help you with this. Your financial resources may drop considerably after a divorce. Building a realistic budget enables you to adjust your lifestyle now instead of being surprised later by bills you can’t afford to pay.
Get Representation from The Carlberg Law Firm Today
Ready to tackle your legal issues head on? The Carlberg Law Firm provides all the experience and knowledge of a larger firm with the personal attention and commitment of a smaller firm. We represent individuals from both the District of Columbia and Virginia, and our attorneys have extensive experience in all aspects of family law. Our offices are located in a beautiful 1875 historic building in Old Town Alexandria at 413 North Washington Street, Alexandria, Virginia 22314. Please contact us to set up an appointment at (703) 549 5551 or connect with us on Facebook and Twitter.