No one plans to get a divorce when they tie the knot with their partner. But sometimes, things don’t pan out as we seek, forcing you to take the step that you dread the most—a divorce.
Getting a divorce is no small task; it requires a lot of legal contemplation, having your spouse on the same page, and deciding all matters regarding children (if you have any). If you or someone you know is planning to get a divorce, here’s everything you need to know about it.
1. Start by Finding a Reliable Divorce Lawyer
This is one of the most important steps because a divorce lawyer is the one who’ll represent your case so that you can get what you deserve. That’s why it’s crucial to find a reliable divorce lawyer who understands your case and the basis of the divorce, fights for equal custody for children and helps you get your share of property/assets.
How do you know if the lawyer is reliable? Well, any good divorce lawyer who cares about you would recommend you to settle the case outside the court, i.e., not filling a divorce trial in the court. Because once you enter the court, things become complicated, which can also affect your relationship with your soon to-be ex-spouse.
2. Gather Financial Information
Once you’ve decided whether you want to settle the matter in court or outside it, you must start gathering all the financial documents to see where you stand in terms of assets and debts. Here’s how you can do it.
Determine What’s Yours
While there are always some mutually owned assets, you will also have some assets that are solely yours, i.e., you don’t share them with your partner. While everyone instantly starts thinking of their home, vehicles, and financial accounts, the other not so obvious items are also worth considering, such as artwork, belongings, inheritances, and pension plans. Don’t forget to include overseas assets and intellectual property too.
Once you have a list of all the assets you own, collect all the documents pertaining to ownership so that it’s easier to prove what’s already in your name.
Determine What You Owe
While it’s a clear law that all debts and assets are meant to be split equally based on equity, this doesn’t apply to debts specified in your or your spouse’s name. If you want to check what debt you specifically owe, just get a copy of your credit report, and it’ll list all the details about the debt you owe.
3. Determine Your Shared Income
The next step is to declare how much income your spouse and you shared on a monthly basis. If you’re both salaried employees, then the process is quite easy since all you need to show is your most recent income tax return stub. However, if you or your spouse are self-employed, things can get a little complicated.
If it’s the latter case for you, you’ll need a copy of the financial business statement and bank account statement to clarify the income situation. While you will get an idea about how much money your spouse potentially makes, it still won’t determine their true income since many expenses need to be deducted.
4. Prepare an After-Divorce Budget
The main aim of splitting assets in a divorce is to cover the basics of your expenses after you’ve separated from your spouse. The best way to claim a certain amount or half the assets is to show the rough work of how you concluded this amount, aka your after-divorce budget.
When making a list of your after-divorce budget, use legit expenses that’ll make your case stronger than luxury expenses, such as monthly rent, grocery expenses, children’s school fees, and monthly expenses. How you revise your expenses will strongly influence how the assets are negotiated in your divorce settlement.
5. Close all Joint Credit Accounts
Before you part ways with your spouse, it’s best to close all the joint credit accounts you have. This will prevent an angry spouse from using the account and increasing charges that could land you in trouble later or hold you responsible.
If your spouse tries to make it difficult, you can offer to pay a smaller amount than what is owed to make it difficult for them to refuse. Next, get a letter from your creditor showing that the account has been closed by paying in full. Also, get a written promise that no derogatory document will be issued against you.
6. Don’t Leave Your House
One of the most common questions lawyers get from their clients is if they can move out of the house. That’s a big no-no. It is only recommended to do so if there’s abuse or any other issue that makes it difficult for you to carry on with your everyday routine.
Moving out is especially discouraged if it could have a negative impact on your children. This can affect your case in court.
7. Try to Be on Your Best Behaviour
Divorce can make ex-partners bitter. When this happens, you might get mean or respond with a nasty response at some point or another. Don’t. When you’re filing for a divorce, your relationship and everything is under the microscope. The last thing you want is to give your spouse’s lawyers leverage to take away what you deserve.
That’s why always be on your best behaviour and not do things that can affect your case in court.
8. Do You Still Have Some More Questions? Get In Touch With Nanda &Associate Lawyers.
It’s not easy filing for a divorce; it’s important to hire the best divorce lawyer to help you with your case. If you or someone you know is looking for a divorce lawyer in Canada, get in touch with Nanada& Associate Lawyers.
We are a boutique law firm based in Mississauga that provides tailored and customized legal solutions for all our clients. Whether you need a divorce lawyer in Brampton or a family law lawyer in Ontario, our team can handle it.
Get in touch with us today to learn more.
Disclaimer: This article is only intended for educational purposes and shouldn’t be used as a substitute for legal advice.
