As you start the divorce process, you might feel overwhelmed with everything that you need to do. Divorcing your spouse is not easy, and it will take time, resources and a lot of energy to make sure that it is done right. It is important that you don't rush the process too much; if you do, you may make costly mistakes. You don't want to have to change the documents later; instead it is best to get it right the first time. Here are some things that you should do as you start the divorce process.
1. Change Estate Planning Documents
One of the first things you should do as the relationship between you and your spouse starts to dissolve is changing your estate planning documents. One of the most important documents in your plan will be your power of attorney. This is the person that you appoint to make all your legal and financial decisions if you are not able to. If you and your spouse are currently fighting, you do not want them making these kinds of decisions for you. For example, if you were in a car accident during the divorce and couldn't make decisions about your medical care, would you want your estranged spouse to be calling all the shots? Probably not, so appoint a new power of attorney as soon as the divorce process starts.
2. Pay Off Debts and Save
Second, you should start paying off as much debt as you can and putting aside money in a personal account. What many people don't realize is that just as your estate will be divided, so will all of your debts. This means that you and your spouse could still be tied together through legal debts for years to come. You don't want to have your name on a credit card that your spouse is responsible for paying off. If they decide to stop making payments, they could damage your credit and financial future. That is why you should get out of debt as much as possible.
In addition, it is important that you set aside money for yourself. You will be personally responsible for your legal bills for the divorce, and you may have to pay for housing, clothing, food and so forth. Having a personal savings account that isn't connected with your spouse will simplify the process greatly.
By doing these simple things at the beginning of the process you can save yourself a great deal of pain in the future. For more information, contact a law firm like divorce lawyers at Strain & Co.