No one ever said that divorce was an easy process, but with a little education and preparation it can be a lot easier than you might think. Whether you are dealing with a high-asset divorce or a modest one, having all of your ducks in a row can make the whole process less stressful, less time consuming, and less expensive. Minnesota couples may find a recent article on divorce and preparation interesting.
Once a couple decides to get a divorce it is time to start thinking about what they would like the post-divorce relationship to look like. For high-asset couples with a family-owned business this may mean making decisions about buy-out of one party or a dissolution, while parents may be more concerned with child custody. Since all couples have multiple issues to ponder it is important to be careful and take your time.
Once the goals of the post-divorce life have been established the next thing to do is to get the household financial records in order. This is often one of the more time-consuming and costly aspects of the divorce process. Having a full accounting of retirement savings accounts, real property holdings, business assets, individual and joint bank accounts as well as the investment portfolio will save everyone time and money in the end.
Finally, it is important for both parties to the divorce to hire attorneys. Choosing the family law attorney to represent you in a divorce is a big decision. Some people choose to rely on the advice of friends and family, while others do their own research. Regardless of which approach you choose it is important to find an attorney you trust and who understands your objectives. It will make everything easier in the end.
Source: Charlotte Observer, "Resolved to divorce?" January 12, 2014
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