How Do You Plan For A Divorce?

How Do You Plan For A Divorce?

When one spouse is thinking about divorce, the first thing that often comes to mind is how they will break the news to their spouse. Really, the first thing that should be addressed is how to best prepare for divorce, before informing your spouse and before everything in your marriage changes dramatically. A few simple steps can help you protect your assets and your interests, as you prepare for life post-divorce.

Organize important documents

The divorce process involves a considerable amount of paperwork. Getting your documents in order before filing for divorce can not only save you considerable time down the road, but can also serve to protect your interests. Make copies of important documents including the following:

  • Personal tax returns
  • Business tax returns if you own a business
  • Mortgage statements
  • Titles to home and vehicle
  • Outstanding loans
  • Credit card records
  • Bank account statements
  • Tuition payments
  • Receipts for large purchases, such as a car or boat
  • Birth certificates
  • Social security cards
  • Pay stubs

Once you have made copies, return the documents to their original location and store the copies in a secure location outside of the home, such as a safe deposit box.

Monitor your credit

Shared bank accounts and credit cards are the norm for many couples. And, for the most part, this is not an issue when the marriage is running smoothly. But when one spouse files for divorce, the landscape is altered and everything is fair game. Obtain a credit report and write down any bank or credit card accounts that are listed in both your name and your spouse’s. Sign up for alerts from your credit card every time a purchase is made. Register with a fraud monitoring company so that you can prevent your spouse from opening up a new line of credit.

Change your passwords

Many spouses share their passwords for email accounts, bank accounts, and other online institutions. Some use passwords that are easy to guess as they may include a pet’s name, child’s birthday, or favorite vacation spot. When divorcing, it is necessary to protect certain documents and information. So sit down and change your passwords, avoiding using any personal information and making password hints more challenging to guess.

Have questions concerning divorce? Our savvy Wisconsin divorce lawyers can help

Divorce is a complicated process involving several different matters, including division of property, spousal maintenance, child support, child custody, and child visitation. If you are contemplating a divorce, it is helpful to understand Wisconsin divorce laws and to take certain measures to protect yourself financially before filing with the court. The experienced divorce attorneys at family law firm Bandle & Zaeske, LLP in Milwaukee compassionately guide you through the divorce process, advocating on your behalf for the best possible outcome. We are available to answer your questions regarding the divorce process. Schedule a confidential consultation with a member of our team by contacting our office at 414-359-1424 or contact us online.

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