Preparing For Divorce: Financial Concerns

Preparing For Divorce: Financial Concerns from Roberts Means, LLC

By: Roberts Means, LLC  02/26/2015
Keywords: Divorce Attorney, Divorce Law, Local Attorney

There are preparations one goes through when getting married. Once the proposal has been made and accepted, everything from the wedding to combining finances to estate planning needs to be addressed. You are starting on what you hope to be a wonderful part of your life, so completing these sorts of tasks is not burdensome. Much as you prepare to be married, in the event you are contemplating divorce, or have in fact made the decision to file for divorce, you should prepare. CBS News has a good article which addressed “money mistakes” to avoid in a divorce. Within that article, two points were made concerning preparing to get divorced. Be Prepared The first point is to get a handle on your financial situation by gathering information regarding bank, investment, and retirement accounts. This would entail copying or scanning recent statements for each account and compiling this information will give you at least a preliminary start on compiling a balance sheet. Also, you should gather information concerning debts, including mortgage, credit cards, and auto loans. By getting a handle on assets and debts of the marriage, you will educate yourself regarding monthly expenses and increase your understanding of the necessary cash flow you may need post-divorce. Take Inventory On a related point, make an inventory of your personal property. While disputes over what personal property is owned are not common, it does happen. For instance, perhaps the husband had an expensive watch he bought during the marriage that doesn’t show up on his balance sheet. Or maybe an expensive piece of art goes missing during the divorce. By completing an inventory before you file, you will be prepared to address such issues. Slow Down The second notable point in the article is don’t wing it. There are certainly circumstances that could lead someone to want to file for divorce the next day. However, if possible, slow down. By filing too quickly, you could find yourself in a difficult position. For example, in response to a Petition for Dissolution, your spouse might liquidate a joint bank account, leaving you with no funds to pay bills or hire an attorney. On a related note, you should open a bank account in your name individually before filing so you have an account in which to deposit funds to which only you have access. If you have questions concerning what you should do before filing for divorce, feel free to call us at 317-353-3600 or click here to contact us via email if you have any questions.

Keywords: Divorce Attorney, Divorce Law, Local Attorney, Local Lawyer

Other news and updates from Roberts Means, LLC

02/26/2015

Divorce and Division of a Business Interest

One of the most challenging aspects of some divorce cases is when one or both spouses own all or part


Preparing For Divorce: Custody and Parenting Time from Roberts Means, LLC thumbnail
02/26/2015

Preparing For Divorce: Custody and Parenting Time

As we discussed in our previous post, in the same way you prepare for your wedding, in the event divorce


Relocation Litigation – The Hearing from Roberts Means, LLC thumbnail
10/29/2014

Relocation Litigation – The Hearing

In our prior posts on relocation, we addressed the necessity of filing a Notice of Intent to Relocate if you intend to move and the information that must be set forth in your Notice; and also addressed the basics of relocation litigation. In this post, we’ll discuss potential evidence each parent may present to the court in a relocation hearing.


Relocation Litigation – The Basics from Roberts Means, LLC thumbnail
10/29/2014

Relocation Litigation – The Basics

If a non-relocating parent objects to your proposed move, then the court gets involved. As an initial matter, it is important to be aware of what the court can and cannot do. The court cannot prevent you from moving. The court can prevent you from moving with your children. The heart of any relocation case is where the children are going to live.


What is a Notice of Intent to Relocate? from Roberts Means, LLC thumbnail
10/29/2014

What is a Notice of Intent to Relocate?

This is the first in a series of family law posts that will address relocation. A common and unintentional misstep made by individuals with children occurs when they move. If you have children and intend to move, it is important to be aware of an Indiana law applying to your situation.


08/22/2014

Alex Lloyd Returns to CRP Racing

After a strong debut at the Pirelli World Challenge Mid-Ohio Grand Prix two weeks ago, Alex Lloyd will once again pilot the CRP Corvette under new sponsorship, RobertsMeans.com, at the Sonoma Grand Prix this weekend...


08/22/2014

Legal Custody – Joint vs. Sole

Family disputes can be emotionally and financially exhausting - especially when children are involved. Today we'll discuss how the court determines legal custody and what that could mean for you.


Child Custody – The Basics of Legal Custody from Roberts Means, LLC thumbnail
07/25/2014

Child Custody – The Basics of Legal Custody

Legal custody can be summed up as follows: Who makes the big decisions? Call Roberts Means, LLC at 317-353-3600 or contact us via email if you have any questions concerning the custody of your child.


Child Custody – The Basics of Physical Custody from Roberts Means, LLC thumbnail
07/23/2014

Child Custody – The Basics of Physical Custody

The two elements to child custody are physical custody and legal custody. Physical custody can be summarized as to which parent the child will spend the night with and when. Under the umbrella of physical custody, the options are joint/equal custody, and primary physical custody to one parent.


The ‘Value’ of Market Valuations in Business Litigation from Roberts Means, LLC thumbnail
07/08/2014

The ‘Value’ of Market Valuations in Business Litigation

There are many reasons to have a firm grasp on the fair market value of your company, and here are just a few examples of matters which may require a reliable and up-to-date business valuation.


Child Custody and Keeping Good Records from Roberts Means, LLC thumbnail
07/02/2014

Child Custody and Keeping Good Records

When custody of your child is in dispute and it is necessary for a judge to make the final decision, it is critical that you have evidence to support your position.