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Prepare for divorce with 4 steps

Filing for a divorce is major. Perhaps more so when your spouse will be blindsided by you doing so. If you have children, that really can add to the gravity of the decision. What are you waiting for? Many people think there will be a right time but aren't properly preparing for that right time to come.

One financial strategist with a focus on divorce suggested four important preparations for divorce that everyone planning a divorce can benefit from. Since divorce focuses on division of assets and a heavy evaluation of finances in order to do so, these four steps all include financial preparation, they are:

  • Check out your credit score and improve it if necessary. You will need a good credit score in the future and may not have given it much thought while married.
  • Obtain checking and savings¬†accounts in only your name at a bank other than your current one. Try to build up a good amount of money in them. Also, get credit cards in your name as it may be more difficult to do so after a divorce and you will need to have a safety net as you adjust to your new financial situation.
  • Get your financial paperwork in order. Ask your spouse for help before they are aware of your intentions, otherwise, they may not be as forthcoming and helpful.
  • Seek out an Illinois family law attorney and have a divorce team in place. You may even want to include a therapist. No matter how practical a divorce is designed to be, emotions can be daunting and exhausting.

Once you have checked off each of these suggestions on your list and have found a family law attorney to counsel you through your divorce, you are likely very well-prepared to move forward, and nothing is as steadying in a divorce as preparation.

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Goddard & Malmquist
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Barrington, IL 60010

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