Divorce can be a challenging process, even for those who have gone through it before. You may discover new realities that may affect your life significantly. For this reason, you should be prepared when you realize you may be headed for a divorce.
Here is how you can plan for your divorce:
Be ready for the conversation
When you notice the signs of an impending divorce from you or your spouse, you should prepare for the conversation. You can initiate the talk, or your spouse can do so. Either way, you should prepare yourself emotionally.
Assess your finances
Once you have had the conversation with your spouse, you need to assess your finances to determine where you stand. List all the assets, and categorize what your own – what you came with into the marriage. California is a community property state, which means marital assets can be distributed equally (50-50). Thus, you can estimate how much you may walk away with.
Your spouse should also do the same. Compare each other’s list to identify an asset one of you may have forgotten.
Create a post-divorce budget
Your life after the divorce may change. It may take time before you regain your standard of living. Thus, you need to consider your income and determine a budget that will work for you.
If you are moving out, find a housing option within your budget. If you will remain in the family home, you also need to budget for household items, as you may be taking care of the bills by yourself, perhaps until the divorce is finalized.
Preparing for a divorce can ease the process for you. It can also help to get legal help to make informed decisions.