To prepare for divorce you can create a family balance sheet. Initially it will be blank. There are a number of things that have to occur over the course of a divorce. One of the more significant things is being able to tally up and understand all the assets and the liabilities that are part of the marriage. To understand how and where the things are going to be divided, you will be making sure that you fill out a well detailed balance sheet – this will do a number of things.
First, having that done at the outset will help to increase the accuracy of it. Sometimes as time goes by, particularly if our spouse just cuts us off from certain things, we may forget those things are there. So by making sure that we’re able to get to those things right at the outset and write them down will help to ensure that things don’t get overlooked through the settlement negotiation process, and if necessary through the trial process. Again, this is the fourth thing that you can be doing in order to protect yourself and help prepare for a divorce.
My name is David Ward from the Ward Law Firm and I help protect the small business owner facing divorce. Contact us for more information.