Being prepared if you are planning to Divorce

The recommendations from the CDC to stay at home as much as possible, while necessary to protect the public health, has had many unintended consequences for those in marriages, especially marriages that were already struggling. In some cases, the added stress of staying home has been too much for a marriage to withstand and divorce is now another aspect of the new normal for many people. If you are planning to divorce your spouse, there are certain things you can do to prepare.

Gathering financial information for you and your spouse such as recent paystubs, tax returns, bank account statements and retirement statements is an important first step to take before filing for any divorce. This allows you (and your attorney) to gather a sense of the financial assets that make up your marital estate and the income available for calculation of support when applicable. Once you have gathered these documents you should make an extra copy for yourself and keep them in a secure location and private location.

In addition to collecting documents pertaining to your assets and income, you should also make copies of credit card statements, mortgage statements, loan statements for your vehicle(s), student loans or any other debt owed by you or your spouse. While many people focus on the division of assets, the Court will also assign responsibility for debt. Therefore, it is important to understand what you and your spouse owe, the reason it was incurred and the payment terms.

Lastly, and especially if you did not handle the finances during your marriage, you will want to understand the total of your monthly living expenses. This is everything from mortgage payments to utilities to grocery expenses. A review of at least 6 months’ worth of bank account statements and credit card statements is a good place to calculate the costs. Your attorney will eventually ask you for additional statements but having this information for an initial consultation is extremely helpful.

The divorce process is difficult enough as it is. Starting off with unrealistic expectations makes more heartache, unhappiness and perhaps higher legal bills in all probability during an already painful process. Understanding how to set reasonable expectations based on sound legal advice from an experienced practitioner ensures a person starts the divorce process with a firm footing on reality based on carefully crafted legal advice and experience. Reasonable expectations, therefore, are much more likely to result in reasonable results.

Rob McAngus, Partner with Verner Brumley Parker, P.C., is Board Certified in Family Law and his practice is devoted primarily to family law, including high conflict divorce, custody cases, and complex property issues. In addition to being selected on the Board of Directors for the Family Law Section of the Dallas Bar Association; he values your priorities as a parent and works with you to achieve the goals that will help transition your family to a new normal.  As both an adopted child and a member of a blended family, Rob can provide a unique perspective in the practice of family law.

Rob has been recognized in Super Lawyers as a Rising Star in 2016 through 2020, and recently The National Advocates recognized Rob as one of the Top 40 Under 40.  He can be reached by calling 214.526.5234 or email at rmcangus@vernerbrumley.com.  Mr. McAngus received his bachelor’s degree cum laude and master’s degree from Baylor University and graduated cum laude from the Dedman School of Law at Southern Methodist University.