Getting Prepared When Divorce is Your New Year’s Resolution

New Year’s Day is the traditional time to start working towards new goals, thinking about what you want your life to look like, and making big changes in your life. If you’re one of the millions of Americans wanting to get divorced in 2023, the time to prepare is now. Use these tips to start 2023 off on the right foot.

An important part of planning for divorce is having the right legal team by your side. At Nowell Law Firm, we’re committed to helping South Carolina families like you get the support they need as they navigate divorce. Call us at 864-469-2481 to schedule a consultation with our team now.

Weigh Your Options One Final Time

Whether or not you are 100% committed to the idea of divorce, it doesn’t hurt to think about it one more time and make sure you’re certain about your choice. Divorce is time-consuming and stressful, and if there is any chance of reconciliation, you may want to explore it before you and your spouse spend thousands of dollars on the divorce process. If you spend some time thinking about it and still decide to move forward with a divorce, there’s no harm done—and you can feel good knowing that you truly did all you could.

Prepare Your Finances

This is a good time to get your finances in order. You’ll want to have sufficient funds available to pay an attorney’s retainer and handle other miscellaneous expenses. Much depends on how you expect your spouse to react to your decision.

If you expect them to lock you out of the joint accounts and attempt to leave you penniless, make sure you have other funding sources. Ensure you have some money in an individual account and a credit card that only has your name on it.  Once you get to court, you can expect to have some protections relating to any joint bank accounts or credit cards.  That can be 4-8 weeks away, though, so in the meantime, you need to be sure you have a way to pay bills.

You may also want to use this time to set up a budget. Going from a dual-income household to a one-income household or making the transition from stay-at-home parent to working parent is a big change, and you’ll want to know what to expect from your post-divorce lifestyle.

Finally, be sure you have the most current and accurate information available to you for your financial information and that of your spouse.  During the divorce process, you will likely need to compile current statements on bank, investment, and retirement accounts, as well as credit card, mortgage, car loan, and other debts.  You will also need to pull together income information like tax returns and recent paystubs.  The more of this type of information you can gather now – for both you and your spouse – the better off you’ll be as some of this information can be more burdensome to obtain later.

Think About Your Priorities

There are lots of important decisions to make during the divorce process. Issues that will ultimately be addressed are child custody, child support, spousal support, and the division of assets and debts. Any or all of these topics could lead to disagreements, so be prepared. Know what you want and what you are willing to settle for in each of these categories. This will help you prioritize the issues that are most important to you.

For example, perhaps you want primary physical custody of your children but are willing to settle for 50/50. Maybe you want to keep the marital home and there is no room for compromise. Perhaps you are willing to give your share of the vacation home to your spouse in exchange for a larger share of retirement funds. There are lots of ways to negotiate, so know your bottom line.

Consider Your Support Network

Even if you are the one who initiates the divorce and it has been a long time coming, this process is emotionally draining. You might see a side of your spouse you’ve never seen before, and it may scare you or leave you feeling isolated. You may not know what life looks like for you on the other side of divorce and you’ll likely need some reassurance.

Make sure you have your support network in place. It may include friends, family members, church groups, a therapist, and others in your circle. Having your network in place before you need them is much easier than trying to figure out whom you can trust when you’re already in crisis.

Hire the Team at Nowell Law Firm

Feel confident in your choice of attorney with the team at Nowell Law Firm. We’re committed to representing your best interests every step of the way and helping you prepare for a fresh new start. Set up a consultation with our team of experienced South Carolina divorce attorneys now by calling us at 864-469-2481 or filling out our online contact form.