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A few steps can help with prepping for divorce

Getting divorced may ultimately provide a spouse with the freedom he or she desperately desires after being in an unsatisfactory marriage. However, the process can be a challenge to navigate, especially from a financial standpoint. A few tips may help with dealing with the monetary aspects of a divorce proceeding in Montana.

First, gathering financial documents early on is critical for determining what assets need to be divided. These documents include tax returns, mortgage statements and retirement statements. Other important documents to collect include brokerage statements and pay stubs.

Next, envisioning the future is essential, as a future vision can help influence the decisions one makes during the divorce proceeding. For instance, perhaps a spouse desires to hang onto the family home in order to continue to rear the children there. However, he or she may decide to give up the home if it means having more money to set aside for financial emergencies each month following the divorce.

Third, lining up a strong divorce team is critical. This team should ideally include a financial analyst who is certified to work with people going through divorce as well as a qualified accountant. It should also include an attorney. An attorney can offer the guidance required to tackle issues such as the division of assets and even spousal support in a manner that is personally favorable in Montana. The attorney's aim is to push for the best outcome possible whether a spouse ends up pursuing a divorce settlement at the negotiation table or has to go to trial to resolve these types of divorce issues.

Source: fox5ny.com, "Getting a divorce? Do these 3 things first", Alison Morris, Jan. 24, 2018

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