There are a range of important decisions that need to be made when deciding to separate and divorce. Being overwhelmed is common, but the more organized you are, the smoother the process can be.
Because your finances are going to be key in negotiating a fair agreement, gathering your records is essential. An experienced Tampa divorce attorney can help. Every situation is unique, so while you may get advice from friends and family members, protecting yourself with your own legal counsel is an important part of the process.
Assets, Debts, and Record Collection
It is impossible to have an accurate overview of the finances of a marriage without assessing financial documents. For this reason, you will need to gather records and statements of the following:
- Income and salary, of yourself and your spouse
- Investments and retirement accounts
- Loan balances, including business loans and other debts
- Properties and their mortgage balances
- Insurance policies, wills, and trusts
- Credit card and student loan accounts
When possible, settling debts before divorcing can be advantageous. But if debt will be carried, it needs to be decided who will be paying down the debt. Additionally, if there are mortgages debt or car loans, who will be keeping the properties and vehicles.
Adjusting your household budget can also give you important insights into what your expenses will look like once your Florida divorce is finalized. Rethinking your personal budget now, assessing your income and expenses separate from those of your spouse, can help you determine what type of divorce settlement you need in order to maintain the life you want moving forward. Joint accounts should be closed and personal accounts need to be set up and utilized.
When collaboration is possible, a divorce can be less combative. There are many options. Mediation, for example, is a way to resolve disputes without having to go to court.
Staying Focused on the Big Picture
Ending a marriage is an emotional process and it is common for one or both parties to be angry, but staying focused on long term goals can be helpful. Venting angry thoughts on social media or to others involved in the process can make the process more complicated.
Clarity around your future goals can help you lay the groundwork for the life you want. If you are unsure how to get started, talk to a Tampa divorce attorney. You can bring all of the documentation you have to your first meeting. Then, your Florida divorce attorney can let you know if additional items are needed. Taking steps to organize your finances and assess your goals can save you time and stress.
Do you have questions about what documentation you should be gathering? Talk to a qualified Tampa family lawyer.
