Ask a Divorce Lawyer: 6 Tips for Preparing Your Case
Houston couples who choose to divorce face some difficult decisions. In addition to managing their emotional reactions, couples must also settle debts, divide assets, and cordially co-parent. This process can take months but knowing how to prepare for the proceedings – and partner successfully with a divorce lawyer – can ease the stress you’re likely feeling.
Ask a Divorce Lawyer in Houston: 6 Tips for Preparing Your Case
1. Consider a Collaborative Approach
Rather than choosing to argue the details of your divorce in court, you might consider mediation instead. This collaborative approach allows couples with complex issues to stay out of court and work instead with a neutral, professional mediator. Many find this reduces the emotional toll involved with the separation process.
You may also save money. Paying Houston’s top family divorce lawyer quickly adds up when you factor in fees for preparation time, hours in court, and additional services. Mediation helps minimize these costs and allows you to amicably resolve key matters of divorce, including property division, debt, child support, and co-parenting.
2. Collect Financial Information
Knowing where you stand financially can help the court or mediator decide how to distribute marital assets and debts. You can facilitate this process by identifying what you own. Some marital assets are obvious, such as vehicles, homes, and financial accounts. These are generally split in the most equitable way possible. Other assets, however, are less conspicuous. Examples include:
- Inheritances
- Pension plans
- Artwork
- Intellectual property
- Overseas assets
- Cryptocurrency
- Airline miles and loyalty points
- Tax refunds
- Subscriptions and memberships
It’s crucial you collect paperwork for each asset, including when and where it was purchased, the present value, and whether it was purchased with joint or separate monies. For real estate, you should plan on giving your lawyer copies of recent appraisals. Also, keep copies of all paperwork for your own records. This should include:
- Utility bills
- Automobile payments
- Savings and bank account statements
- Credit card statement
- Mortgage statements
- Tax returns
- Daycare and educational expenses for children
3. Identify Income
Your attorney will also need documentation showing income for both you and your spouse. Recent pay stubs will likely be sufficient if you and your spouse are hourly or salaried employees.
If either of you is self-employed, however, proving income becomes a little more difficult. The easiest way to do this is with copies of bank statements and tax returns. It can be impossible to show real income on your spouse if they’re self-employed, but you will still need to gather all information available. Your attorney will then work to obtain other necessary documents during the discovery process.
4. Prepare a Post-Divorce Budget
Your income may dramatically drop after the divorce is finalized, meaning it’s best to determine now what you will need to live comfortably. A budget can be easily crafted by writing down and tallying all of your monthly expenses. Remember to include costs for necessities like gas, food, and personal items. Having this information in hand will impact how your attorney negotiates the settlement terms of your divorce.
5. Establish Your Credit
If you don’t currently have credit established just in your name, now is the time to do so. It’s best to open a credit card by yourself and use it sparingly. In fact, you should follow this rule of thumb: charge only what you can afford to pay in full each month and carry a zero balance whenever possible. The goal is to build your personal credit rather than create more debt for yourself.
Now is the time to mention you should also run a copy of your own credit report. Any debt you currently have will be listed there. Marital debts are generally split according to the spouse more financially capable of paying. Again, provide statements for all open accounts to your attorney – and keep copies for yourself – so debts can be properly accounted for in your divorce settlement.
6. Stay in Your Home
Divorce clients almost always ask if they should move out of the marital house or stay. Unless abuse is present, the general recommendation is to remain. Leaving can negatively impact your case. For instance, the judge may consider your absence – especially if you stop paying a portion of the mortgage – when deciding how to distribute property.
If you must move, it’s important you continue paying at least a portion of the house payment. Also document all monies you contribute, including the dates and how that money was paid. Your attorney can then present this information to the mediator or judge to ensure your payments are considered in the division of property.
Divorce can impact your finances, emotions, and future well-being. But with a few well-planned steps, you can navigate this process and look forward to brighter days. Those steps should include choosing if mediation is right for your needs, establishing your credit, and preparing a post-divorce budget. And rest assured your attorney will be by your side every step of the way – even as they fight for your rights.
Thank you,
Glenda, Charlie and David Cates
