Jane-Ashley McMillan, Attorney at Law

Inventorying and organizing in preparation for divorce

When you got married, you undoubtedly expected the relationship to last. After all, you do not approach any type of situation without fully thinking it through. Of course, you cannot predict every curve life might throw at you, and though you once expected your marriage to last, you now know that it will not.

Though ending a marriage is certainly difficult, you are once again taking the time to think through what the legal process will mean for you and your future. You do not want to approach your divorce case without the proper preparations, which is why you are looking for information and tips.

Getting ready

When preparing for divorce, it is easy to think of all the ways in which your life will change, but it may not be easy to think of ways to handle those changes. Considering the following preparation tips may help you uncover your options:

  • Inventory your assets, debts and other financial information. By gathering bank account documents, loan information, credit card statements, tax returns, insurance policies and marital and non-marital property information, you may be better prepared for property division proceedings.
  • Classify your assets as either marital or separate property. Remember that proving separate property is not always easy, and having purchase records may be necessary.
  • Organize your documents. You may find yourself with stacks of financial records, ownership documents, debt-related information and other paperwork that needs to stay organized to prevent you from getting overwhelmed.

It is also important to understand how Texas law affects property division proceedings. Because the state is a community property state, it means that you and your spouse equally own all marital property in the eyes of the law. As a result, the division will work to reach as close to a 50/50 split of marital assets as possible.

Additional preparations

In addition to making an inventory and organizing your documents, you may want to look into what the divorce process will entail. You certainly do not want to walk into a courtroom and feel as if you have no idea what to expect, and fortunately, you do not have to do that. You can reach out to a family law attorney who can explain the process, go over your particular case and help you work toward your desired outcomes.

No Comments

Leave a comment
Comment Information
<#if page.ID != "E-mail">