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5 Steps for Planning for Divorce in Orlando

1. Start gathering all your financial information. You need your last 3 years of tax returns. You need your last 3 months’ of credit card statements. You need your last year of saving and money market type accounts. You should run a credit report on yourself. You should check with social security to see if you will receive more under your name, or your husband’s social security. That is if you qualify depending how long you were married. That is why you should visit the social security administration and find that out. Talk to a realtor, if you plan on selling your house. Request that the realtor provide you with comparative market analysis for your house. You may wish to get an appraisal on your house. If you own a business, you may wish to get a business valuation so you know what the business is worth. Gather the information regarding the pay-off amount of the mortgage left on any property you own. Inventory and take pictures of valuable jewelry, collectibles, etc. Minor your accounts for unusual financial transactions by your spouse. Make sure you have a credit card in your name with a high credit limit in the event your spouse cuts you off from the monies. This will help you survive until you can get a hearing before a judge.
2. Keep a journal of what transpires. This will help you if you have to testify in court. A journal is especially helpful if you have children, or there is domestic violence. Record all incidents while they are fresh in your mind.
3. Talk to a financial planner. Figure out how much it will cost you to live each month. Figure out how much deficit you will have when you separate. Figure out how much you need each month to live like you are currently living. Figure out which assets you should request in equitable distribution that would most benefit your economic situation.
4. Talk to a CPA. Find out the tax ramifications of a divorce on your finances. This is extremely relevant, if you will pay or receive alimony. It is also relevant regarding the distribution of retirement funds.
5. Talk to an attorney. Ask yourself if the attorney and I have a good fit? Is the attorney knowledgeable? Did the attorney answer my questions? Do I feel comfortable with this attorney? Remember, usually, the higher the quality of the attorney, the higher their hourly rate. Remember, you get what you pay for.

If you have further questions regarding planning for a divorce in the Orlando Florida area, you can call Ann Marie Gilden, Esquire at Ann Marie Giordano Gilden, P.A. at 407-732-7620 and set up an initial consultation.

This article is for informational purposes only and does not form an attorney client privilege.

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