www.charlesjeromeware.com " Here to make a Difference."
Charles Jerome Ware, LLC is a premier, Maryland-based, nationally-recognized and respected divorce and family law firm. Attorney Ware is recognized and ranked by both his satisfied clients as well as his legal peers as one of the "TOP 10 DIVORCE AND FAMILY LAW ATTORNEYS IN HOWARD COUNTY " [ thePRIMEBUYERSREPORT]. For an initial courtesy consultation, contact Attorney Charles Ware and his staff at (410) 720-6129. He can help you.
Divorce is frequently tragic, often traumatic, and usually stressful for all parties involved. The formal legal process of ending a marriage can unnerving for the spouses and their children (if any) with the adventure of new living quarters, changing of personal and family schedules, and certainly decisions about marital property and money. Getting through this difficult process can be made more palatable with some preparation, positive attitude, and poise. Prepare yourself to successfully "survive" your divorce, and not to necessarily "win" it. Preparation and good attitude are important.
Usually one spouse is responsible for maintaining a couple's finances (including bank accounts, etc.) and paying the family's bills. If you are not that designated spouse, make yourself fully aware of what's happening with the family's finances immediately :
- Create a list of all the assets (including account numbers, financial institutions and values stocks and bonds, real property, et al) held by you and your spouse, both individually and jointly-held.
- Similarly, make a list of all outstanding debts. Dividing is generally a more difficult process in a divorce than dividing assets . Therefore, both parties should pay off debt balances as much as possible and as quickly as possible.
- If possible between the parties, pursue mediation rather than rely on litigation to resolve as many marital issues as possible (including, by the way, issues such child custody and visitation, etc.).
- Close jointly-held credit cards.
- Keep or establish new credit in your name only.
- Contact lenders and credit card companies to request 3rd party notification if you are relying on your spouse to make payments.
- Maintain the "big picture". Prepare a practical post-divorce spending plan or budget based, hopefully, on steady sources of income.
- Prepare to downsize your lifestyle (for most people, that is).
- Contact credit reporting agencies often to ensure that your credit is not being compromised.
- Of course, seek professional LEGAL, FINANCIAL, ACCOUNTING and TAX advice !
- Keep copies of your spouse's social security number and benefits, and military benefits (if any) with your on retirement/personal documents and other information. You may be entitled to some ( a portion) of these benefits in retirement if you were married for at least 10 years, etc. [ and remain single, etc.].
- Change your will, powers of attorney and health directives as well as beneficiary designations as necessary.
_ Change beneficiary clauses in employer-provided life insurance policies and any IRAs that you may own.
Make sure your spouse has adequate life insurance and disability insurance if you will receive alimony and/or child support.
- Maintain ownership of life insurance policies to make sure your ex-spouse is paying premiums and to prevent alterations of the beneficiary clause.
- " Measure twice, cut once." Do not make important decisions about your divorce without thinking them through and consulting with your professional advisors. Many life-changing decisions can come up during a divorce.. Think carefully before acting on your emotions., etc.
- Do not believe everything other people tell you about their divorce experiences. Though presumably well-meaning, people can exaggerate, forget, embellish, or even lie (for some or no reason) their experiences. Remember: their divorce was probably traumatic for them as well. Bad thoughts, bad memories... bad stories.
Finally, please remember that in most cases, YOU and your SPOUSE are the ones getting divorced; not your children. Both parties MUST do their best to spare the kids from the nastiness, unhappiness and problems inherent in the divorce. Thank you for your cooperation.
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