When you start to believe that divorce may be in your future – whether you are the one that is going to file or not – it is wise to start taking steps to look out for your interests. This doesn’t mean that you are being underhanded or dishonest. It simply means that you are being smart. Below are a few tips you should consider in preparing for your divorce:
- Start maintaining your financial records. You will want to be able to track where your money is going. This includes documenting gifts, loans and other similar financial events.
- Safeguard your privacy. If you are consulting with a divorce attorney, you don’t want your wife to be able to access emails from your lawyer or other confidential correspondence or documents.
- Postpone big financial commitments. It is not a good idea to take out a loan or make a large investment while your marriage status is uncertain.
- Prepare to make financial disclosures. You should be aware that the law requires you to make full, open and honest disclosures about your finances during your divorce. You may be tempted to conceal assets or financial successes, but this will only cause significant problems in your case.
- Remember the liabilities. You want to make sure you can inform the divorce court about all of the marital liabilities such as taxes, bills and contingent debts.
- Seek advice regarding alimony. It is common for a man to assume that he must continue to financially support his wife after the divorce, especially if she did not work outside the home while they were married. However, if your wife has the capacity to earn and support herself, you should discuss your options with your attorney.
- Value your business. If you own a business, you may be required to get it valued. You should be proactive in submitting your valuation to make sure the court is fully informed and understands all aspects involved in understanding the value of your company.
Let us help you prepare for your divorce. Contact the knowledgeable attorneys at the Men’s Divorce Law Firm. Our office is located in Orlando, Florida, but we proudly serve husbands and fathers across the State.