The Basics — A To-Do List
- Make copies of all of your family’s financial data. This includes all assets and liabilities, plus tax returns for the past three years. Divorce Financial Planning, LLC provides worksheets to help you with this process.
- Begin the process of being on your own and having your own financial identity. If you don’t have it, establish your own credit rating by getting a credit card; or take out a small loan and pay it back quickly. This will help build your credit history.
- If your family has not operated on a budget, now is the time to start. Collect and analyze monthly and yearly income and expenses. Divorce Financial Planning, LLC provides worksheets to help with this process.
- It is time to think about what the future financial goals and needs are for you and your children (if you have them).
- Interview several attorneys to find one you feel comfortable with. The divorce process may take a year or more, so this choice becomes very important during this period.
- This is also a time to consider getting emotional support — not only from your trusted friends, but clergy, licensed psychological counselors and divorce support groups.
- Remember to make time to take care of yourself. Some sort of physical exercise may help to handle the stress you are feeling.