Regardless of your circumstances, divorce is a challenging and emotional process. Protecting yourself during this time is crucial for your future well-being. Making a plan and taking steps to safeguard yourself, your children and your interests can make a big difference in the ultimate outcome of your divorce.
We know that facing a divorce can feel overwhelming. That’s why we’re here to help guide you through some key steps to protect yourself. From financial considerations to emotional support, there are many areas to consider as you navigate this process.
By planning ahead and being proactive, you can set yourself up for a smoother transition – making an already difficult process just a little easier. We’ll cover some often overlooked steps that can make a big difference in protecting yourself and your interests during divorce.
Key Takeaways
- Make a plan to protect yourself, your children, and your finances before starting divorce proceedings
- Seek legal advice early to understand your rights and obligations and the timeline
- Take care of your emotional health by building a support network and practicing self-care
- Remember, searching the Internet is not a sound legal strategy
The Role of an Experienced Divorce Attorney: Creating Your Divorce Exit Strategy
A skilled divorce attorney guides you through the complex process of ending your marriage. We help you make informed decisions, provide trusted legal advice, and manage the practical and technical aspects of divorce.
In short, we help you analyze your physical safety and financial situation, think through your legal options and future, and help you create a safe and effective Divorce Exit Strategy.
Helping You Make Decisions that are in Your Best Interests
We understand the fear and uncertainty that comes with divorce.
Most of our clients, when they first come to us, are not thinking about the process of going to court. They’re thinking, “What am I going to do tomorrow?” “How am I going to get through this?” “How do I get away?”, or “How do I get out safely?”
With so many concerns weighing on your mind, our job is to help you focus on what’s most important right now. We’ll discuss key questions about timing, help coordinate your efforts and plan your finances, and guide you as you figure out your immediate and future next steps.
There are also a lot of tough choices ahead. We want to explain your options clearly and help you weigh the pros and cons of each choice.
Our goal is to protect your interests at every step. We’ll make sure you don’t rush into decisions you might regret later. With our guidance, you can feel more confident about your decisions and your future.
Legal Consultation You Can Trust
We offer a safe space to talk about all of your concerns. No question is too small or silly. We’ve heard it all before, and we’re here to help.
Our legal knowledge is up-to-date and thorough. We’ll explain how the law applies to your specific situation. We can tell you what to expect in court and how judges typically rule on cases like yours.
We’ll also help you gather important documents and evidence. This might include financial records, texts, or emails. Having this information readily available can strengthen your case.
Coordinating the Logistics of Divorce
We’ll help you create a step-by-step plan for your divorce. This includes practical matters like:
- Finding a new place to live
- Setting up separate bank accounts
- Dividing shared property
- Creating a budget for your new life
We can connect you with other professionals you might need. This could include financial advisors, business valuation experts, forensic experts, therapists, and child custody experts.
We’ll also handle all the legal paperwork. We’ll make sure documents are filed correctly and on time. This takes a big weight off your shoulders and helps avoid very costly mistakes.
Our goal is to make the process as smooth as possible. We’ll be there to answer your questions and ease your worries every step of the way.
Understanding Legal Rights and Obligations in Arizona
Divorce laws in Arizona affect property and debt division, child custody, and financial support. Knowing your rights and duties is key.
Property Division Laws
Arizona is a community property state. This means most assets and debts obtained or incurred during marriage are split 50/50. But some items stay separate.
Separate property includes:
- Gifts to one spouse
- Inheritances
- Items owned before marriage
You must disclose all assets and debts within 40 days of filing a response. Being honest is crucial. Hiding assets (or spending) can lead to penalties.
Child Custody and Support
What all parents need to keep top of mind is that divorce affects more than just the married couple as they separate, it also affects the children within the family. Any parent who thinks children do not pick up on tension and animosity between the parents is simply mistaken. Naturally, one would think that everyone wants to ensure that their children’s needs are also being met and that decisions are made with their best interests in mind, but oftentimes one parent’s legal strategy and/or need to win over the other spouse takes precedence over the best interests of the children. Children should never be acceptable collateral damage. It can be a daunting decision to initiate a divorce knowing how much it will impact a child’s life. We’ve dealt with a variety of scenarios and fielded concerns and questions from parents about child care and are prepared to help you navigate your situation.
Arizona courts focus on the child’s best interests for custody choices. They look at many factors to decide.
Key points to know about custody:
- Legal decision-making rights
- Parenting time schedules
- Temporary vs. permanent orders
Child support is calculated using a formula that considers numerous factors and is based on both parents’ combined incomes, parenting time, i.e. how much time each parent spends with the children, who pays for insurance for the children, child care costs, and any extra education expenses.
Alimony and Spousal Support
Spousal support, or alimony, isn’t always given, and the court will weigh several factors in order to decide if one party is entitled to an award.
To determine if a spouse is entitled to an award of spousal support, the Court will consider:
- If one spouse lacks sufficient property to meet their reasonable needs
- If one spouse lacks earning ability in the labor market to be self-sufficient
- If one spouse is the parent of a child whose age or condition is such that the parent should not be required to seek employment outside the home
- If one spouse has made significant contributions to the other spouse’s education, training, or career
If the Court finds that one spouse is entitled to spousal support, the Court must then focus on the other factors to determine the monthly amount and duration, such as:
- Length of marriage
- Each spouse’s earning ability
- Age, employment history and physical and emotional condition of spouse seeking support
- Comparative financial resources
- Contribution of the spouse seeking spousal support to the earning ability of the other spouse
- Time necessary for the party seeking spousal support to acquire sufficient education or training to find appropriate employment.
If appropriate, at the beginning of the case we will evaluate, as part of your litigation strategy, whether to file for temporary support during the divorce process which will help cover expenses until the final decision or resolution of the case.
Understanding your rights in these areas is vital. It helps ensure a fair split of assets and proper support arrangements.
Preparing Financially for Divorce
Getting your finances in order is crucial when facing a divorce. We’ll cover key steps to take, including gathering important documents, taking stock of your assets and debts, and planning for your financial future after divorce.
Gathering Financial Documents
Start by collecting all relevant financial paperwork. This includes:
- Tax returns (last 5 years)
- Bank statements (at least the last 6 months)
- Credit card statements (at least the last 6 months)
- Mortgage statement
- Investment account statements (at least the last 6 months)
- Retirement account information
- Pay stubs
- Copies of Insurance policies
- Any documentation regarding any asset or investment or debt owed to a third party
Make copies of everything. Store originals in a safe place outside your home, like a bank safe deposit box, a friend’s house, or our office. Hiding them in your vehicle is never a good idea.
Consider using a financial organizing app or Excel spreadsheet to track all accounts and balances. This will help you stay organized and spot any unusual activity.
Assessing Assets and Liabilities
Take stock of what you own and the debts owed as a couple. Create a detailed list including:
Assets:
- Home and other real estate
- Vehicles
- Valuable personal property (jewelry, art, etc.)
- Precious metals like gold and silver
- Bank accounts
- Investment accounts
- Retirement accounts
Liabilities:
- Mortgage and HELOC
- Medical bills
- Car loans
- Credit card debt
- Student loans
- Personal loans
Don’t forget about less obvious assets like life insurance, collections of coins, stamps, guns, sports memorabilia or other like items, frequent flyer miles, or club memberships. Get professional valuations for high-value items if needed.
Budgeting for Post-Divorce Life
Plan for your financial future as a single person. Start by creating two budgets:
- Current household budget
- Projected post-divorce budget for yourself
Look for areas to cut costs. You may need to downsize your home or reduce discretionary spending.
Factor in potential new expenses like:
- Health insurance (if currently on spouse’s plan)
- Child care
- Alimony or child support payments
If possible, build an emergency fund to cover 3-6 months of expenses. This provides a financial cushion during the transition.
Consider working with a financial advisor to help plan for your long-term financial goals. They can assist with retirement planning and investment strategies tailored to your new situation.
Emotional Well-Being During Divorce
Divorce can take a heavy toll on your mental health. Taking care of yourself emotionally is key to getting through this tough time. You need support, self-care, and sometimes professional help. Do not neglect your needs.
Seeking Support from Friends and Family
Reaching out to loved ones can be a big help during divorce. You shouldn’t try to handle everything alone. Close friends and family can offer a listening ear and emotional support.
It’s okay to open up about your feelings. Talking things out can help to process difficult or unrealized emotions. Ask trusted people to check in on you regularly.
Family members might help with practical tasks too like helping you to gather up necessary documents. This can ease your stress. Let people know what kind of help you need most.
Far too often, people are afraid of reaching out for help from those around them, fearing it makes them a burden to those around them. But your support system is meant to support you, not just through the good, easy times, but also through the difficult times when you need it most. It’s okay to need or ask for help. Asking takes courage, yes, but in the long run, you will be better off asking for help than staying silent and suffering alone.
Going through the process of divorce can be lonely, do not isolate yourself further.
Engaging in Self-Care Practices
Self-care is crucial for your emotional health during divorce. You need to make time for activities that help you feel better.
Exercise can boost your mood. Even a short daily walk can help. Eating well and getting enough sleep are also important.
Try relaxation methods like deep breathing or meditation. These can calm the mind when we feel overwhelmed.
Hobbies are a great distraction. We might pick up a new skill or return to an old interest. This gives us something positive to focus on.
Considering Professional Counseling
Sometimes we need extra help to cope. A therapist or counselor can offer valuable support during divorce.
Professional help gives us a safe space to express our feelings. Therapists can teach us coping strategies and tools and can help us work through complex and difficult emotions.
Consider joining a support group for people going through divorce. Connect with others who understand your situation.
Counseling can also help you adjust to your new life after divorce. It’s a way to invest in your long-term emotional health.
Frequently Asked Questions
Divorce can be complex and challenging. We’ll address key concerns about protecting yourself financially and legally during this process.
What are some common pitfalls to avoid being disadvantaged in a divorce settlement?
Rushing into agreements without proper legal advice is a major pitfall. While it completely understandable that one would like to get through the process and pain involved with divorce as quickly as possible, we recommend taking time to understand all aspects of your finances and your legal rights before making decisions that could have significant and long-lasting effects on your financial and emotional well-being.
Hiding assets or lying about income can severely damage your case. Be honest and transparent throughout the process.
In what ways can women ensure their protection in the course of a divorce?
Women (or even men for that matter), particularly if they have been a stay-at-home parent or not the primary breadwinner, should gather all financial documents, including bank statements and tax returns. It’s crucial to understand the family’s complete financial picture in order to make informed decisions during settlement negotiations or proceeding to trial during a divorce.
We advise opening individual bank and credit card accounts in their own names. This helps establish financial independence and credit in the event of a divorce.
What strategies can men use to protect themselves in a divorce proceeding?
Same as above for women. It is also a good idea for men to document their involvement in childcare and keep a record of time spent with kids and responsibilities handled. If moving out of the family home, men should continue to maintain involvement and regular contact with the children.
How should one prepare to safeguard their finances before initiating a divorce?
Make copies of all important financial documents. This includes tax returns, bank statements, and investment account statements.
As set forth above, we recommend creating a list of all the family’s assets and debts. This helps ensure nothing is overlooked during property division in the divorce.
How can I secure my financial interests during a divorce?
Open individual bank and credit card accounts, and begin having your income deposited into your own account – you may still need to contribute monies from your ongoing income to pay joint or family expenses and obligations as well as to support your spouse and children in the interim during the divorce, but this can prevent further accumulation of debt on joint accounts as well as safeguard against excessive spending of your post-service income and allow you to start utilizing the same for your own separate expenses.
Also, we advise against making large purchases or selling valuable assets during the divorce process as this can unnecessarily complicate property division in the divorce and cause additional financial and emotional stress.
What assets are typically considered safe from division in a divorce?
Inheritances received by one spouse, even during the marriage, are usually considered separate property. Keep these funds segregated or in a separate account to maintain their status as your sole and separate property.
Additionally, businesses, assets, and property that you owned or acquired prior to the marriage are your sole and separate property and typically not subject to division. However, depending on the asset and circumstances involved, any increases in value due to your efforts or from financial contributions made to these assets during the marriage might be shared with your spouse and subject to division in the divorce.
Moving Forward with Your Divorce Escape Plan
Once we have your Divorce Escape Plan in place, we’ll work together to make sure that every step is done in the proper way at the proper time.
Trust Owens & Perkins to help you build your Divorce Escape Plan, and secure the physical and financial safety and support of you and your children.
Call: 480-994-8824
Visit: 7322 E. Thomas Road, Scottsdale, AZ 85251
Online: Schedule a consultation
