Filing for Divorce at the Start of the New Year: What You Need to Know

The New Year offers opportunity for reflection and is a time when many of us take stock of our lives and our relationships. While the decision to get divorced is not something you decide on a whim one New Year’s Day, the New Year is an opportune time to move ahead with the divorce process. 

The busy holiday season is behind you, and you can comfortably look forward. If you have children, you were able to provide at least a veil of stability and calm for them to enjoy one last season together as a family. And from a financial perspective, the year-end financials are in the books, which can make the division of assets cleaner – and perhaps even work in your favor.

How to Prepare for a Divorce in the New Year

As you prepare to file for divorce, there are a few things you should know before you submit paperwork to the state of Florida.

• Understand your financial position – It’s important to have a good understanding of your assets and debts both jointly with your spouse and individually. Your financials will be scrutinized during the divorce process, and the last thing you want to run into are surprises. It’s also helpful to run a credit report to make sure no fraudulent activity shows up. 

• Review other assets and debts – This extends to things like real estate property, automobiles, household goods and furnishings, jewelry, and other tangible and intangible assets. Don’t forget things like retirement accounts, life insurance, and other financial accounts either. This is also a good time to organize those important documents (passports, mortgage documents, titles, wills, etc.) and make copies of everything. 

• Budget for your future – You can’t close the door behind you without also looking ahead. Starting a new, single life will likely mean making different financial decisions, at least in the short term. Establish credit in your own name, and work with a financial planner to create a realistic budget for your future. Consider your monthly expenses, including those that may not be recurring, and don’t forget to factor in the cost of the divorce itself.

Lastly, you’re going to want an experienced divorce attorney at your side – one who will ensure your rights are upheld and that you receive a fair and equitable outcome in your divorce. We can help. Our team of experienced Florida family law attorneys at the Vasquez de Lara Group will be at your side every step of the way. Contact us today to schedule a free case evaluation to discuss your specific situation.