At the Genus Law Group, our Albuquerque, New Mexico, attorneys knows how difficult ending your marriage can be. Preparing for a divorce can be an emotional and financially trying time.
There are five important steps you can plan for as you embark on this path and you prepare to move on to the next phase of your life:
Mistake #1: Failure to Understand Where You are Financially.
You need to know as much as you can about your current bank accounts of the bank accounts of your partner. You need to have access, or know how to obtain access to all accounts including bank checking and savings, investment and retirement accounts to name a few. You may also want to speak to your financial advisor about taking this next step. If you do not feel comfortable going to the financial advisor because of their relationship with your spouse, then seek out the advisor of a different financial advisor.
Mistake #2: Failure to have an emergency fund.
Once your divorce is filed and your partner is served with paperwork, he or she may cut you off from access to bank account funds. Ensure that you are prepared if this happens so you can have enough money to survive and meet your basic needs. I recommend you have at least three months of funds to cover basic, minimal expenses. Once you divorce is final, it is possible to obtain court ordered support from the other party while the divorce is pending, but it could take 1 - 3 months to get into court to get the monetary support you need.
Mistake #3: Failure to make a personal plan to leave.
You need to decide if you want to remain or leave the home once the divorced is filed. It is not required for you to leave, but if you are uncomfortable with living under the same roof while the divorce is pending, you should have a plan where to live while your divorce is pending. You will not be giving up any rights to the home or the property if you decide to leave while the divorce is pending. Many have a common, mis-informed belief they give up property rights when they leave, but this is untrue. Do not let this misconception prevent you from leaving the harm if you are in an uncomfortable situation.
Mistake #4: Failure to document everything.
If you decide you want to move out, document everything that you have left behind. If your partner moves out, document everything they removed from the home. Preserve all correspondence between you and your partner pertaining to anything relevant to your divorce.
Mistake #5: Failure to keep your divorce off social media.
Social media has created a way for us to communicate with family and friends about our lives. However, talking negatively about your soon to be ex spouse on social media can heighten the level of animosity between the two of you. Talking poorly about how bad a mother is on social media is not a good way to garner favor with the court. I always suggest if one wants an outlet to vent their frustrations throughout the divorce proceedings, keep it off all forms of social media, including emails and text messages between you and your spouse. Instead, seek comfort in close family and friends, or counseling through a mental health professional to help you cope with the anxiety of divorce.
In deciding whether or not to pursue a divorce you should speak with an experienced family law attorney in Bernalillo, Sandoval, Santa Fe, or Valencia Counties and New Mexico, Genus Law Group has a team of experienced attorneys representing clients throughout New Mexico. Contact us to schedule a consultation today at 505-317-4455.