Considerations in Preparing for Divorce

If you are considering getting a divorce,  pre-planning is essential to protect yourself and your assets.  Here is a  pre-planning checklist:

• Consult a lawyer immediately.  Every person's situation has unique issues and no checklist can be all inclusive.  The Murrieta divorce lawyers at Singleton Smith Law Offices provide a free initial consult.
• Learn what assets you have and keep a folder accounting for all of it.  Most assets gained during a marriage are considered community property (property you both own) and the spouses have a 50% interest in the property, regardless of title.  Locate and keep a copy of the last six months of bank statements and two years of tax returns.  Keep copies of your paystub and your spouse's for the last six months.  Copy all documents related to pensions, IRAs, stocks, bonds, annuities or any other asset for at least the last six months.  When in doubt keep a copy.
• Stash some cash.  Set aside some money in a separate account without your spouse's name in the event you need to pay for expenses post separation and you do not have a job.  Stay at home moms, you may find yourself living without income up to 90 days contingent on the court system.  The money you and your spouse earn while married is both of yours so it is not stealing.
• Inventory your household items.  Make a list of all of the personal property you own with your spouse or separately(furniture, televisions, appliances, etc.).  Consider listing even those items that have only sentimental value because one of you will get that property.  Worried that your spouse will take the property and deny its existence, take a picture of the property in your house, especially valuable items.  Look in your safe or safe deposit box to be sure you know the contents.
• Consider how to handle splitting up with your children.  Certainly, children are the most important thing and most of you have already considered this one, but remember the courts will want to give visitation to the other parent.  In most cases, sole legal and sole physical custody is not likely to be given to one parent.  Try to come up with a reasonable visitation schedule and keep the children out of the problems that arise in your divorce.

Again, this list does not apply to all divorces and Singleton Smith Law Offices highly recommends you consult with one of our knowledgeable Murrieta divorce attorneys to determine all of your pre-divorce planning issues.