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How to prepare for divorce

On Behalf of | Jan 15, 2020 | Firm News

Couples who decide to file for divorce have a lot of decisions to make. Financially and emotionally, the process is difficult, and some people may choose to stick their heads in the sand to avoid having to deal with anything. However, preparing for it will often get better results and ultimately ease the stress. 

According to Forbes, organization is key for those who are beginning the divorce process. Sit down and list all individual and marital debt and assets. This includes bank accounts, credit card balances, the mortgage, property, retirement, investments and student loans. Gather all relevant documents such as bank statements, tax returns, insurance policies and loan documents. 

Although it costs money, it may be worth hiring professionals to help determine property worth or to investigate any potential hidden assets. It is also a good idea to classify everything into separate or marital property. 

Psychology Today also provides advice on how to emotionally prepare for divorce. After organizing financial documents, it is smart to come to terms with the fact that most people will have less money after the finalization of a divorce. Make a new budget and accept that change is inevitable, as this will make the transition easier. 

Experts say that not only is it ok to grieve for the loss of the relationship, but it is also healthy. Prepare to go through the stages of grief, such as: 

  • Denial 
  • Anger 
  • Bargaining 
  • Depression 
  • Acceptance 

Going through a divorce is usually easier with a support system. Reach out to friends and socialize, even when it is hard. Ask for advice, be open with your feelings and accept help. 

For parents, divorce can be particularly hard. Instead of turning away, be emotionally available for the children. Acknowledge and validate their emotions, and do not be afraid to be open and honest with them.