For any family, divorce always proves to be a period of stressful transition. To make the process easier and make everyone involved move forward faster once the outcome is final, you need to be organized and stay on top of things. In addition to the meetings with attorneys and court dates and various other issues you need to remember, it is also important to put these five tasks on your to-do list during or shortly after your divorce.
1. Set Aside Money for Expenses
Divorce being expensive is almost a fact of married life. You want to make sure you budget properly, even if you choose a less expensive legal option, such as mediation. Additionally, you should plan for unexpected costs during the proceedings, such as meals away from home, parking charges at the courthouse, and other miscellaneous expenses that tend to mount up. You need to set aside money during the process to help cushion the financial blow because sticking to a regular budget is tough during this transition and your budget changes based on the divorce, too.
2. Assemble a Team
Although most people instinctively decide to retain an attorney at the beginning of the process, few understand how beneficial it can be to assemble a team of experts to help you. Having such a team on hand to provide assistance to both parties not only saves you money on litigation expenses in the long run, but also make the process more amicable. In addition to your attorney and/or a mediator, consider working with a financial expert, a forensic and/or business CPA/accountant, a real estate professional, and a child development specialist.
3. Make New Health Insurance Arrangements
If your spouse is the principal account holder in your health insurance policy, getting divorced means you will no longer be covered by it, and vice versa. And because finding one that would match your new financial situation might take a while, it is important to search for a new policy as soon as possible.
4. Maintain or Open a Bank Account and Credit Card in Your Own Name
After your divorce, you will once again be solely responsible for your finances and credit score. Moving on with your new life means you need to re-establish yourself financially. To avoid confusion, some experts even recommend moving to a different bank than your spouse.
5. Update Your Beneficiaries
Chances are your spouse is listed as your beneficiary on your life insurance, retirement savings, and other forms. You will want to update this information as soon as possible in case an emergency occurs.
It can be overwhelming for everyone to prepare for divorce and organize their life after it. Speak to a divorce expert in your area if you need help getting everything under control.
If you have any questions about child custody mediation, please call John Powell III at 281-870-2053 and schedule a free 30-minute consultation. John is based in Pearland, Texas and has represented persons in literally hundreds of divorces to resolve their conflicts amicably with less expense & time.