How To Plan For A Successful Divorce

If you are considering divorce, you need to start preparing immediately to protect your interests. It is important to understand your financial situation, your property holdings and your spouse’s actions before you officially begin divorce proceedings.

At Holloway & Norman Law Group, we have successfully resolved numerous complex divorces, including high-asset divorces. We can guide you through the process, evaluating your case, identifying potential weaknesses and offering suggestions for improvement.

If you are considering divorce, call our Silver Spring, Maryland, offices at 866-355-5414. Before you meet with our lawyers, begin preparing with our tips for a successful divorce below.

Steps To Prepare For Divorce

  • 1. Before we start negotiating on your behalf, you need to prepare to maximize your chances of success.

    The best way to do this is to arm yourself with knowledge.

  • 2. Know your assets and debts.

    If your spouse was in charge of the family’s finances, it is time that you know your financial status. Make a detailed list of all of your property holdings, significant purchases, debts and bank accounts.

  • 3. Delve into your bank accounts.

    Once you locate your bank accounts, carefully analyze their contents. Look at your available cash assets and investments and understand your average monthly payments. Meet with a financial adviser if you require assistance interpreting your accounts.

  • 4. Analyze your tax returns.

    Your tax returns provide a clear picture of your financial status. Collect your family’s tax returns from the past few years and note your holdings and changes over time.

  • 5. Understand your spouse’s income.

    Know your spouse’s base salary, commission structure and bonuses. Look into his or her retirement account and understand how it is structured. You are entitled to a portion of that retirement account, so you need to understand what you can expect to receive.

  • 6. Track your financial accounts.

    Now that you understand your financial accounts, you need to closely track them on a monthly basis. Watch that your spouse is not overspending assets before the divorce or hiding assets.

  • 7. Review emails, telephone records and social media accounts.

    If you suspect infidelity or hidden assets, begin reviewing your spouse’s emails, telephone records and social media accounts to corroborate your suspicions.

  • 8. Do not sign anything your spouse presents to you.

    Your spouse may meet with an attorney and present you with documents to sign. Do not sign anything until you meet with your own attorney. Your spouse and his or her attorney are looking out for their best interests, not yours. Signing the wrong document may significantly hurt your divorce settlement.

Contact Our Firm For The Direct Counsel You Need

Call Holloway & Norman Law Group for the legal protection you deserve. Our divorce attorneys will honestly evaluate your circumstances and provide counsel to protect your interests.

Call our Silver Spring offices at 866-355-5414 or email us using the form below. We assist clients with family law concerns within D.C., Montgomery County and Prince George’s County.