Are you preparing for a divorce?

Here are tips to get started:

Look for past and current financial statements

All financial documents that you receive in your mailbox are worth your time. Collecting bank account statements that show year-end balances and year-end spending summaries sent out by the majority of credit card providers can be a great place to start. You may also begin to see tax documents sent out in the first quarter of the year. If you are not certain if the paperwork is pertinent to your divorce, keep it just in case. The more you’re able to gather now, the more prepared you’ll be.

Make a copy of every financial file in your house

That includes at a minimum, 5 years’ worth of tax returns, bank account statements, business ownership paperwork like partnership agreements, as well as wills and trusts. If you think the financial paperwork is going to be important to your divorce preparation, make a copy. It’s better to be over-prepared.

Inform yourself of your divorce options

Many couples are able to solve their divorce outside of court. If you’re unsure or are confused as to what option is going to work for you, arrange an appointment with any of the professionals with Family Divorce Solutions of San Fernando Valley and we’ll discuss your divorce options with you. Staying out of court may save economic and emotional resources and result in a more beneficial financial settlement.

Open a bank account or credit card in your name

If you don’t yet have a credit card that is in your name, it may be a good idea to apply for one. It’s common for one spouse to lose accessibility to cash after a divorce filing. Nerdwallet is a resource for comparing current credit card offers.

For more information on our divorce services, contact any of the professionals with Family Divorce Solutions of San Fernando Valley today.

Alex Weinberger
Marriage Financial Solutions