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Cash Flow Planning for Life

Helping you reach your personal & professional financial goals.

Archive for May, 2012

#4. The Divorce Process

Posted by Mark On May 30th

Gavel

This is the fourth installment of “Divorce. What You Need to Think About from a Financial Perspective”, which can be downloaded for FREE from makara-assoc.com.

Following the filing of the petition and response, the divorce process continues with a series of steps. This can take weeks, months, or more than a year, depending on how contested your divorce is.

Below is the process a divorce usually follows….

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divorce petition

This is the third installment of “Divorce. What You Need to Think About from a Financial Perspective”, which can be downloaded for FREE from makara-assoc.com.

Filing the Petition

The Petition for Dissolution of Marriage is the first document filed with the clerk of the court in your county, which starts the divorce case. It basically formally asks the court to end your marriage. In the petition, you will have to plead all of the facts required by your state’s law in order to entitle you to the outcome you are seeking.

In most states, you will have to include when and where you were married, how long you have resided in the state, information about your children, and may have to include grounds for which you seek a divorce. (In Florida, you are only required to state that your marriage is “irretrievably broken”, which is considered grounds for divorce.) Residency requirements and grounds for divorce vary from state to state.

The steps you will take in a divorce case depends on whether you are the “petitioner” or the “respondent”.

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#2. Gather Your Financial Documents

Posted by Mark On May 2nd

Financial Documents

This is the second installment of “Divorce. What You Need to Think About from a Financial Perspective”, which can be downloaded for FREE from makara-assoc.com.

You should have your financial documents in order prior to beginning the divorce process. Before you even go into the first appointment with your attorney, you should have a clear understanding of where you and your spouse stand financially. It is best to bring in your accountant or a professional to assist you in this step.

Both parties in a divorce will be required to complete a financial affidavit to determine your income and expenses. If you have your financial documents in order prior to completing this, it will save you a great deal of time and headache.

Here is a list of financial documents you will need to have in order:

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