Finding yourself on the separated side of marriage takes a lot of getting used to. On top of the fact that you have lost the person you once loved more than anything, you are now faced with several life changes that may take at least a year to get through.
With an average of over 40 percent of all marriages ending in divorce across the globe, it’s a good wake up call to realize what lies ahead following separation. After years of building your finances, home, and lifestyle around another person, the daunting task of pulling these areas of your lives apart and changing everything can be overwhelming. The important thing to remember is that although it takes time and maybe even counseling, you eventually come through it and though life is different than it used to be, it slowly becomes normal again.
Most couples share bank and savings accounts. Upon separating, it’s important to go into your financial institution together to close out your accounts and create new, independent ones. Keep in mind that banks are now only required to cater to the first person who comes in, removes funds, and closes out the accounts. They no longer require both of you to be present. If you are unable to go in together, be sure to at least get your half of the finances and establish a separate account as soon as possible. Retirements can be addressed in the divorce paperwork, as well as other assets that are tied up.
Home and Personal Property
Unless you are fortunate enough to get along to the point where you can live together as you separate your personal items, it’s important that you list all of your own property so you have a good reference. Additionally, attempt to decide how to divide your items that you purchased together or that were acquired during your marriage. Being fair and reasonable during these discussions is helpful as you divide your estate. Once you are ready to see an attorney, seek out a well-established law firm like Tully Rinckey, with offices nationwide, so you can feel confident that you have the best representation.
Real estate and vehicles can be divided in the divorce paperwork as well as any other big-ticket items. The main idea is to have a plan and try to come to an agreement on things before the legal proceedings begin.
Of course, during the span of your marriage, you have no doubt developed friendships and favorite eating places, as well as things you like to do together. Some friends drop away or choose sides, this is natural. This is when you find out who your true friends are. Often, some of your spouse’s family members continue to stay close to you. It all depends on whether there are children involved, how the marriage ended, and how close you were to them during your marriage.
Be aware of some practical changes as well. For women, there may be a name change and this affects your social security card and any credit or bank accounts you have. At least one of you faces an address change. Also, life insurance beneficiaries, car titles, and health and vehicle insurances change at least to some degree. Knowledgeable representatives like the tully rinckey professionals know how to guide you through all of the details that come with the sometimes complicated process of divorce.
Remember that life changes during and following divorce, and for many, it changes for the better. The catch is that it takes a little time and some work on your part. With working together and selecting a good attorney regarding finances, your home, and your lifestyle, after a period of time, your new life will begin.