Anyone who suspects divorce is in their future should protect themselves financially. In order to get an equitable distribution of financial assets, one has to know what the assets are. First, go through family documents and copy materials like tax returns, bank statements, deeds, mortgage statements and retirement account statements. People are often in the dark without this information. Next, make an inventory of household possessions. Be sure to list major items like furniture, electronics, jewelry, artwork and automobiles.
After gathering some information, consult a Divorce Lawyer in Bellevue WA. Contact Tamblyn Law for a consultation. The attorney explains your legal rights and responsibilities. For example, moving out of the family home could be a big mistake. Many judges allow the spouse, who remains in the house, to keep the house. An experienced attorney will warn you about this and other possible missteps. It’s also important to know how much a spouse earns. Some people are married for twenty years and never see a spouse’s paycheck. This may be more difficult if the spouse is self-employed. That’s why tax returns are important proof of what someone makes. Additionally, try to make a plan for family debt. If possible, start paying down the debt before filing for divorce. No one wants to get stuck with a court-ordered debt payment they can’t afford. Also, make a list of what debts are in your name, and which are in the spouse’s name.
It is smart to check your credit report before filing for divorce. Further, be sure to have some credit in your name. If the credit history is negative, try and repair it before filing. In addition, start building a nest egg of your own. If all the family money is in a joint account, open an account in your name. Stash away as much money as possible. Everyone wants to be in the best possible position before starting over. Be sure to ask the Divorce Lawyer in Bellevue WA about tax exemptions. Usually, the custodial parent gets the deduction for the children. However, some parents alternate taking the exemption. After the divorce is filed, it is easier to be cooperative with your spouse if you are protected.