Divorce - 20 Things To Discuss With Your Attorney

It is estimated that about 50% of marriages end in divorce. In some cases, it is due to the fact that one or both partners are having affairs, but often it is because of money problems. If you are thinking about getting divorced, you may want to consider talking with an attorney about your financial situation before making any decisions. Here are some things you should discuss with your attorney:


1) How much money each of you has and what assets you own. If you have joint accounts, you should list all of them. If you have a business, you should list its value. If you have a house, you should list the mortgage payments and the value of the home.


2) How much money you have set aside for your children. You may want to ask how much you can spend on your child's education. You may also want to discuss college expenses if you have children who are going to college.


3) Do you have any debt? If so, what kind of debt do you have?


4) Do you have a 401(k)? If so, what is the balance?


5) Do you have any life insurance? What is the policy value?


6) Do you have any other retirement plans?


7) What is the value of your car?


8) What is the value of any property that you own jointly?


9) What is the value of the property that you live in?


10) What is the value of a business you own?


11) What is the value of stocks and bonds?


12) How much income will you receive from Social Security?


13) Do you have any other income such as alimony, child support, or disability?


14) What are the tax consequences of your divorce?


15) What is the amount of money you will need to pay in order to keep your current lifestyle?


16) What is the amount of time you will be receiving spousal support?


17) What is the amount of alimony you will receive?


18) Will there be any tax consequences if you sell a house?


19) Will there be any tax implications if you change jobs?


20) Will there be any tax repercussions if you remarry?


21) What will happen to your children if you get divorced?


22) What will happen to your pets if you get divorced?

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