Be sure you discuss the following before arriving at the attorney's office:
- Will either spouse remain in home as part of the final settlement?
- Gather mortgage papers for calculating liability
- Gather estimates for repairs necessary
- Gather outstanding bills due for maintenance
- Gather any liens against property for any outstanding bills
- If principal residence is to be sold, have fair market value determined by appropriate agency
- Have real estate taxes ready; depending on state, this can be one year or several years
- Are there other real estate properties, rentals, vacation homes to divide?
- Discuss tax considerations of all property distributions with your tax accountant
The property division is usually the most tedious, but the decisions regarding child custody and child support often cause the most rancor. Because each family has unique situations, there are no hard and fast rules. Be sure to discuss your family's needs with your spouse before you arrive at the lawyer's office to save time and money. Here are several issues to consider regarding your family's support, now and in the future:
- Alimony
- Physical custody of children
- Legal custody of children
- Child support payments
- Visitation parameters
- Tax deduction for children
- Tax consequences of alimony and child support; discuss with tax accountant
- Health insurance plan changes to cover the children
- Health insurance COBRA paperwork
- Beneficiary changes and continued payments for other insurance plans
- Changes to wills and/or trusts
In a collaborative divorce, the financial specialist can help you address these issues.
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