There is no question that you want your divorce to unfold as smoothly as possible.
That said, you probably do not look forward to the property division phase of the proceedings. Organizing your finances will help you streamline the process and enter the future with greater confidence.
Gathering information
Track your expenses: household bills, mortgage payments, food, transportation, clothing and anything else you spend money on. Add your bank and credit card statements, investment and retirement account statements, pay stubs and tax return copies. Keep in mind that the amount of money coming in is about to change since one income source will disappear once the divorce is final. The information you put together will help a judge determine whether to award spousal support. Admittedly, gathering your financial information takes time but the results will be rewarding. Not only will having comprehensive information help smooth the way through the property division process and the court’s determinations, but it will also assist you in planning for life after divorce.
Avoiding large expenditures
Unless your divorce attorney sees a potential problem, such as an acrimonious relationship between you and your spouse, you can continue to use your joint and separate accounts as usual. However, with the divorce pending, be sensible with spending and avoid making large purchases.
Looking ahead
Pennsylvania is a no-fault state. So, regardless of the reason for the break-up of your marriage, you want the divorce process to go as smoothly as possible, especially property division. Preparation is key. The more organized you are, the better chance you have of navigating this event successfully and entering the post-divorce world with greater confidence.