Divorce is not only a legal technicality. Besides legal formalities, there are also emotional episodes to come through. Being sad when a marriage ends is natural. Although it’s painful, grief is a healthy emotional response to the loss of an important relationship. We are hardwired to feel it, and it wouldn’t be reasonable to expect otherwise. While sorrow and grief can be very hard to handle, most people do understand and accept the inevitability of these feelings.
Divorce can be expensive. Before you ever meet with an attorney, discuss the pros and cons and decide how to get divorced first. Take time to prepare relevant divorce information about protecting assets in divorce, clearing debts, matrimonial assets and ongoing financial obligations. Your attorney will need a number of documents before he or she can take action, but by collecting this information in advance you can reduce the time and expense of divorce. Among other things, you should bring current utility bills, documents relating to your mortgage, tax records, bank statements, vehicle titles, retirement documents and investment records.
Premarital asset protection includes prenuptial agreement. Prenuptial agreement is the agreement that speaks about the financial dealings when a couple is sure about their marriage separation. The divorce courts in states accepting prenuptial agreements will uphold the contract if the agreement is fair and includes all relevant information about assets. If the court believes that one party was forces to enter into the agreement under duress or coercion, the prenup will be thrown out. Prenuptial agreements may be challenged for a number of reasons, including concealment of assets, fraud and coercion. In some cases, the divorce court may presume that one spouse intentionally concealed assets if the prenuptial agreement is grossly disproportionate.
This documentation will allow your attorney to take immediate action in retaining assets and develop a broad outlook regarding the fair division of marital assets. Call your attorney’s office to ask what specific documents they require and if they have any forms for you to complete prior to the meeting. Couples who have filed for divorce by mutual consent must wait for a minimum period of six months. This is called the Divorce waiting period. The divorce waiting period varies from state to state.
The postnuptial agreement comes into existence only when the couples have undergone serious changes in financial circumstances. This agreement typically includes debts, assets, income and expected monetary gain in the future.
Books about divorce to identify and retain your hard earned assets when considering marriage or divorce, including strategies to help you achieve these goals