Well-known statistics suggest that many marriages do not reflect “till death do us part” as marital separations and divorces are common in America today. However, what Connecticut residents experiencing a divorce can avow, there is a lot more to ending a marriage than signing paperwork. It can be helpful to be prepared in advance with a checklist of to-do’s that might include some of the following.
Creating a file of pertinent financial documents can be a good place to start. These documents may include bank statements, real estate documents, tax returns and other such documentation. Depending on the specifics of the divorce, it may be a good idea to keep a separate, secure copy of these documents outside the home.
It is also wise to consider how to proceed with joint bank accounts, credit cards and the like. A joint credit card, for example, can be used by either party to rack up debt, but if one party is the primary on the account, debt incurred by the other will still be the responsibility of the primary to pay back. Thinking about these sorts of financial decisions ahead of time can save time, and in some cases, headaches during the divorce process.
Every divorce is as unique as the people involved in the marriage, as some Connecticut residents are keenly aware. However, certain parts of the divorce process are common across the board. Considering financial information and obligations is a good first step toward ensuring the divorce goes smoothly and that both parties can move forward in their individual lives.
Source: The Huffington Post, “The Divorce To-Do List”, Kathryn Dickerson, Mar. 8, 2016