“People are more generous in their income reporting on credit or loan applications than they are in, say, their 1040,” said Narris, who went on to stress that loan applications could be crucial parts of a divorce discovery. Gather Key Evidence Before Filing for Divorce If you’re thinking of filing for divorce, it can be tough not to walk out the door when your spouse pushes your buttons.However, Narris recommended that individuals take time to collect evidence before a split.In her practice, she advises those considering divorce to buy big items before filing. Keep Track of Your Spouse’s Money If you’re thinking of filing for divorce or legal separation, it’s a good idea to take a look at your spouse’s financial situation.According to Narris, spouses should start by tracking the partner’s new credit card and loan applications.Although divorce can get you out of an unhappy marriage, it can also milk you for all you are worth if you don’t know your rights.
If not otherwise addressed in the divorce settlement, the husband will be on the hook to pay taxes on the gain on the stock.” According to Denmon, spouses who are receiving real estate, stocks or bonds need to understand that taxable gains can leave them vulnerable. Get Job Training or Update Your Education Before Filing If you are currently being supported by your spouse, you might want to consider taking the time to dust off your resume and freshen up your skill set before seeking a divorce.Along with taking pictures of assets, individuals should make copies of account statements and jot down any important numbers.Preparation is key if you hope to come out ahead in court. Get Property Valued Before You Part Ways When it comes to divorce, almost all property is fair game.Doing this will help you come out swinging when you get your day in court. Consider Mediating Your Divorce It’s no secret that divorce can be expensive.In fact, according to Narris, the average cost of legal fees in a divorce is ,000.