No one ever really plans or even thinks about getting a divorce when they tie the knot. But sadly, some marriages are not meant for ‘til death do us part and end up in divorce. A divorce is a life-changing event, and for most people, financial security following a divorce is a primary concern. The emotional aspects of divorce could be immensely overwhelming for some, which is why planning ahead after you’ve decided or are considering ending your marriage is crucial.
What Exactly is Divorce Planning?
Divorce planning is mainly focused on developing financial strategies that could help divorced individuals achieve the most suitable divorce settlement and financial security for their specific situation. The primary goal is to help ensure that you are completely aware of all the options available to you, your assets’ true value, and how your financial decisions before, during, and after your divorce would affect your finances.
Our Georgia divorce planning lawyer will also help you better understand your current financial situation to help you assess all the possible divorce settlement arrangements. This would be vital in helping you evaluate all the long-term effects of your divorce decisions.
Getting Started on Divorce Planning
What you need to remember is that divorce planning isn’t about hiding marital assets from your spouse. It is all about protecting yourself and your children financially and making wise choices when you can think more clearly and before emotions get the better of you during the divorce process. If possible, you should gather the following information and have your divorce planning lawyer review them before bringing up the topic of divorce with your spouse:
- Post or pre-nuptial agreements
- Mutual funds, bonds, and stocks
- Income tax returns
- Any type of loan, including auto loans, personal loans, mortgages
- Real estate holdings
- Credit card, savings, and checking account statements
- Business and personal tax returns
- Retirement funds
- Business holdings
- A list of non-marital and marital personal property
- A list of marital debts and assets
- Documents that prove separate ownership of any personal property
- Health and life insurance policy documents
- Prior divorce judgments
- Estimates of monthly expenses that can be utilized for determining child support and/or alimony decisions
- Other assets-related information that could be used for dividing assets later on
- Details on any past or pending lawsuits
- Any information that could potentially affect your current financial circumstances
It’s also important to note that in some cases, if a spouse knows about the impending divorce, they might try to hide assets and financial information, so you will need to be extra careful, especially if you feel that the divorce will not be amicable and/or your spouse will contest it.
Learn How an Experienced Georgia Divorce Planning Lawyer Today
If you are thinking of filing for a divorce in Georgia, get in touch with Banks, Stubbs & McFarland today. Our skilled and compassionate Georgia divorce planning lawyer can help you learn more about your case and the divorce process before you file. Call us at 770-887-1209 or contact us online to schedule an appointment with our Georgia divorce lawyer today.