Whether it comes as a surprise or if it was a long time coming, being served divorce papers can be an overwhelming experience. Most people aren’t able to think clearly in the days, or even weeks, that follow. While you don’t necessarily have to act immediately, you’ll need to provide a response to the petition and take the necessary steps to choose legal representation and secure your finances. In today’s blog, we’ll be sharing how to handle this situation (both emotionally and practically).
The process and experience of filing for divorce is anything but simple, and it can be difficult to make sound financial decisions while in an emotional state of mind, even in an uncontested divorce. However, it is important for both parties to plan ahead for their financial futures as individuals early on in the process, before the divorce is finalized.
One of the most difficult issues in a divorce is splitting assets into “his” and “hers.” Dividing real property (marital home), personal property (your stuff), vehicles and financial items are where most couples run into difficulty. Before a divorce can be granted, all marital assets must be distributed in a way that’s satisfactory to both parties.