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Divorce Checklist: What you should do First | My Money Track

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Divorce Checklist: What you should do First

13044484_sI meet with men and women weekly who are facing divorce. The range of emotions they encounter are all over the board. But the common thread? They all feel overwhelmed! The mere thought of so many changes happening so fast could make anyone want to bury their head under their blanket and hide. Whether it’s a situation that has been “a long time coming,” or your soon to be ex-spouse blindsided you with an affair (or worse), we know where you need to begin to seek comfort and help.

First, you must prepare yourself a personal budget. If you are seeking financial support from your spouse, you will need to provide written proof of what you have been accustomed to living off of over the past years. Do not be naïve and think you may “fudge” the numbers in your monthly budget. It will take much more than you may imagine living and paying all of your and your children’s monthly expenses. Your attorney will need a written budget from you to prove to the court why you need money during your divorce proceedings. These are commonly called “temporary orders.” Click here for free sample budget spreadsheets from My Money Track.

We are not lawyers at My Money Track and do not offer or provide any sort of legal advice; however, we work closely with a bevy of solid, board certified family law attorneys. We will assist you in finding the best fit for you.

Second, insist on your spouse to either purchase or transfer a life insurance policy for at least the term of years until your children are age 22 and out of college. You will need to be named as the owner of the policy so that you will be notified immediately if your spouse fails to pay the premiums or attempts to make any changes to the life insurance policy.

Any temporary orders or final divorce decree financial settlement is only as good as your ex spouses desire and ability to meet their financial obligations and pay you on time. To ensure this happens, it is a very good idea to insist your ex spouse also purchase a disability insurance policy. The chances of your ex encountering an illness, or accident that impairs his income and ability to meet their monthly financial obligations are approximately one in five.

That’s a 20% chance of your spouse not being able to earn a living!

We promise you will be amazed how much better and empowered you will feel by simply completing a few of these checklist items. You may even feel enough in control to be better able to possibly work through any marital issues and reconcile the relationship… but with a totally new understanding between you and your spouse.

For a complete check list of what you must do before you decide to file for divorce, simply call us or complete the free offer box on this page.


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