Considering Divorce? Here’s Step 1

If you are planning for a divorce, there are some very specific things you need to consider. Here's the first thing you should do.
10 Steps to Prepare for Divorce Part 1

Here’s the key takeaways from the video:

  • Divorce preparation involves emotional and financial readiness.
  • Start by gathering essential financial documents like bank statements, investment records, credit card statements, and tax returns, and keep copies in a secure location.
  • Evaluate both your and your spouse’s assets and debts, including bank accounts, investments, real estate, and personal property, distinguishing between separate and marital property.
  • Create a budget by assessing monthly expenses, helping understand current financial needs and post-divorce financial requirements.
  • This preparation lays the groundwork for managing finances effectively throughout the divorce process.

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