When the divorce process begins, it can be tempting to focus on the big picture, such as where each party will live and who will get the kids. However, there are a multitude of decisions and aspects of daily life to be considered before the divorce is final. For those in Virginia who are pursuing a divorce or thinking about starting the process, there are details to filter through and actions to take.
Knowing what is at stake is vital for either party. While some assets may be obvious, such as the house, others may not be known entirely. This is why it is important to be aware of the finances and what assets exist. These can include retirement accounts, liabilities and debts, taxes, and any concealed or hidden assets. A forensic accountant may help locate and evaluate any assets.
Once each party is well aware of what exists and needs to be dealt with, each party should be clear about what he or she needs to move forward. This means they should consider budgets and living expenses. Information about health insurance may also need to be discussed and assessed. For the party who may have stayed home, it may be wise to update a resume or finish schooling as soon as possible so as to have a means of self-support once the divorce takes place.
There is certainly plenty to do before, during and after a divorce takes place. The exact details of what will matter most and what will need immediate attention will vary for individuals in Virginia. However, being generally aware and prepared for what is probable can help the process unfold smoothly and with less stress and anxiety.
Source: huffingtonpost.com, “40 Secrets Only Divorce Attorneys Know“, Lia Sestric, Nov. 19, 2015