Get Motivated Monday
Divorce is an emotional process, however, in the eyes of the law, it is a financial transaction. It is the end of a union that requires the division of assets, debts, income and expenses. Thus, in order to obtain a divorce, you must figure out your finances, do a little number crunching and provide this information to the court and to your husband. This takes time so today, we’d like to encourage you to focus on finances and start tallying the numbers your court need sto receive before it grants your divorce.
If you’re in Phase 0 or just contemplating divorce, begin calculating your current and future expenses to determine how much money you’ll need monthly after the divorce. Include any current debt payments as well as future expenses so you have a realistic picture of future financial needs. These numbers will help you plan for the future.
If you’re in Phase 1 and you’ve already filed a Divorce Petition but haven’t prepared your financial disclosure statements, download your court’s legal papers and fill out the financial forms to best of your ability.
If you’re in phase 2 or preparing for a divorce trial, identify the actual and future values of all assets, debts, income and expenses at issue. Also, talk to your lawyer about the estimated costs of trial so you can make educated choices about your future.
If you’re in Phase 3 or recently divorced, assess your current financial situation and establish a budget and financial goals for your future.
If numbers aren’t in your divorce goals today, tell us what you’re working on today to move your divorce forward. We’d love to hear from you!
This article is not legal advice. You should consult an attorney if you have legal questions that relate to your specific divorce.
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Posted by ModDiva on May 14th, 2007 filed in Inspiration |
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