Divorce may be one of the most psychologically and emotionally traumatic events for many Minnesota residents, as well as people throughout the United States. One of the major emotional issues during a divorce may be the bitterness that develops between estranged couples. But, planning ahead to resolve these issues, as well as ones that may pertain to significant assets or matters relating to child custody, may be crucial in arriving at an amicable settlement.
Many legal pundits say that January is one of the most popular months for initiating divorce proceedings. This could be because many people may think of getting out of an unhappy relationship as a crucial new year’s resolution. But, the financial matters relating to divorce proceedings have often been observed to be very problematic.
For couples who have a substantial amount of assets, these financial matters may become even worse. Getting financial documentation in order is one of the crucial steps that must be taken by anyone who wishes to initiate divorce proceedings.
Making sure to be financially independent may also become very important. In cases where one of the spouses completely depends on the other for finances, divorce proceedings may become egregious. Many Minnesota residents find it beneficial to learn more about their options prior to initiating a divorce in order to cover the basics and protect themselves from any kind of bitter or prolonged contested divorce proceedings.
Many couples keep joint bank accounts. It may be advisable to create separate accounts with separate credit cards. This may facilitate a divorce proceeding, as well as discourage an estranged spouse from making unscrupulous purchases in order to punish the other spouse during a bitter divorce battle.
Source: Time.com, “The 3 most important things to do before announcing you want a divorce“, Jan. 13, 2015
