Preparing for Divorce in the New Year: How to Make a Fresh Start
As you look at the new year ahead, it may be time for a fresh start – pursuing a divorce may be that critical step for a better future. And know that you aren’t alone. According to a New York Times article:
“A Google Trends search for “divorce” last year returned that it was, ever so slightly, most popular from Jan. 6 through Jan. 12.”
In this post, our Colorado divorce lawyers share ways to prepare so you can make informed decisions and move toward a brighter future. Here’s what you need to prepare for divorce in the new year:
- Gather Important Documents: Organize copies of documents like your marriage certificate, prenuptial or post-nuptial agreements, life insurance policies, wills and estate planning documents, living wills, trust documents, powers of attorney, and property deeds.
- Assess Your Financial Situation: Take inventory all of your assets – both personally and those you share with your spouse. Include bank accounts, investments, retirement savings, property, and emergency funds as well as liabilities including loans, mortgages, and credit card debt. Newsweek’s article “Here’s Why January Is the Most Popular Month for Divorce“ addresses the financial benefits of filing for divorce in January, saying “The month serves as a time of financial planning for many, so you can more easily calculate how the divorce will hit you in the wallet,” aligning with the new tax paying and calendar year.
- Consider the Tax Implications: Obtain copies of your most recent tax returns and understand the implications of how a divorce will affect your taxes now and in the future. If you share children, your parenting plan should be developed with directives on how to handle tax filing so that both parents can benefit from their returns.
- Create a Detailed Budget: After gathering important documents and financial information, create a budget for your future. What will the next year look like for you? If you don’t currently work, will you need to get a job to support yourself? How much will it cost to live on your own? Plan out these scenarios so you have a full picture of your future budget to support yourself and your children.
- Record Custodial Time: If you have already separated or have decided to spend the holidays separately, document where your children spent their time and with which parent. Keeping track of this time during any initial separation can help provide documentation that the court may need and also assist you in creating a parenting plan.
- Create a Plan for Your Future: Think about your future life and how you want it to look. Where do you want to live? What do you want your parenting plan to look like? How do you want to spend your time? Knowing what you want will help when it comes to writing your divorce petition, and parenting documents, and what support you may need during the process including a financial planner, mediator, or other divorce professional.
- Consult a Family Law Attorney: Contact a local family law attorney in your state to learn more about your options and get educated about what is involved in the process.
- Build a Support Network: While trusted family and friends are great for support during this time of change, you may also want to consider having an outside network for support like divorce support groups, or finding a therapist or divorce coach.
- Prioritize Your Well-Being: Deciding to file for divorce is one of the most emotional times of one’s life and it’s important to prioritize taking care of yourself. Take the time you need to process and seek any necessary resources to ensure your well-being is fully supported.
Consult With a Colorado Family Law Attorney
It is important to educate yourself and understand all of your options when preparing for divorce. Family Law attorneys know the laws of your state when it comes to the divorce process and can educate you on your legal options and what to expect during the process. Consulting a reputable attorney with an understanding of Colorado family law with extensive professional experience can help you protect your rights and future.
There are so many divorce paths – contested vs uncontested divorce, filing jointly vs. with a spouse, and the variety of divorce options such as mediation, amicable divorce, or dissolution of marriage.
We believe in compassionate and personalized representation to help you find a legal solution that supports this sensitive life transition. At Solutions Based Family Law, we empower clients with knowledge and tools to make informed decisions about their divorce with customized solutions to meet your needs and goals, helping you take proactive steps towards a brighter future. We can help you understand your legal options, review your initial petition and proposed agreements, and evaluate all documents, guiding you toward a solution that is specifically tailored for you.
Contact us online to schedule a consultation or call (720) 420-3610 to speak to one of our family law attorneys.