Divorce is an extremely stressful life event that most don’t expect to face. Nevertheless,as divorces become more commonplace,there is more information and resources available to help people through this difficult process. When it comes time to prepare for a divorce,there are certain steps you can take to make the event as efficient and stress-free as possible. Even before that first trip to a -,you can start laying the legal groundwork for a divorce.
While divorce laws vary from state to state,the majority of documents necessary to take to a- to draft a separation agreement involve financial records like taxes and notices of assessment,spending records,asset lists,debt and investment information,and mortgage info. You can start collecting these documents to start preparing for the divorce. You will also need your marriage certificate. These documents are necessary when it comes time to split the assets and debts shared by the couple.
The Matrimonial Home
Most often,the matrimonial home is the largest shared asset between most couples. You will need to have a discussion with your spouse as to what your intentions are regarding the home. Some people choose to sell and split the equity equally and use it to move forward,while others decide that one party will buy the other out of the home. In this case,the spouse buying the other out will have to be able to afford the mortgage on their own. Speaking with a mortgage broker regarding your options and early mortgage approval is a good step towards legally preparing for a divorce.
While no one dreams of a divorce when they are saying “I do,” it happens nonetheless. Having a little due diligence done beforehand can help ensure that you are as prepared as possible for the process.