Planning on a Separation? Collect Important Documents First
Even if no one is filing for divorce just yet, separation can have significant implications for everyone involved. In many cases, a separation means a divorce is looming. Even if you reunite, it’s important ensure that everything stays organized during your separation to limit the potential financial consequences of living separately. For this reason, if you are planning on a separation, you should take the time to collect important documents first, as you may need them to do things like open a bank account, get a credit card, or rent an apartment.
These documents can help you to easily provide important information for you and your children, as well as your spouse in the event you wish to file for divorce. You should have the following:
● Social security numbers of all family members
● Date and location of your marriage or a copy of the marriage certificate
● Health and dental insurance cards
Having this information ready to go can make the process of filing for divorce easier. In addition, you will be able to provide the necessary information for your children when needed for school or medical appointments.
In the age of online accounts and communications, you may be surprised how many people do not have – or know how to access – their basic financial information. In some cases, one spouse may handle all bill paying and financial transactions and the other spouse may not even know the right usernames and passwords to access this information. You should always have copies of or online access to the following:
● Checking and savings accounts
● Credit card statements and numbers
● Mortgage account and deeds to your home and other property
● Titles to your car and insurance information
● Tax returns
● Retirement accounts
Also, if you have joint credit accounts with your spouse, you may want to get regular copies of your credit report. If your spouse stops paying the bills or begins racking up credit card debt, you should know about it as soon as possible to limit any damage to your credit score.
When you are getting separated, estate planning documents may be the furthest thing from your mind. However, having these documents on hand is critical in case you need to change them. If you decide on divorce, you will likely want to update beneficiaries as soon as possible on many documents, so you should gather the following:
● Last will and testament
● Life insurance policies
● Retirement plans
● Powers of attorney
● Living trust documents
Contact a Las Vegas Divorce Attorney if You Plan to Get Separated
While taking the time to gather such documents may seem daunting in the face of an already emotional time, doing so can protect your interests and make a subsequent divorce process less stressful. The Las Vegas divorce lawyers at Acherman Law can provide advice during separation, even if you are able to save your marriage. We can also be ready to prepare divorce documents should you choose to file. Please call 702-381-5615 or contact us online to learn more today.