Proper preparation is critical to streamlining the divorce process and ensuring you and your former partner reach an equitable settlement. Here are some tips to help you get started:

1. Understand Your Joint Assets – Gather all the documents related to joint assets, including savings, investment and insurance policies. Be sure to include any pre-nuptial agreements that might affect the division of these items during your divorce.

2. Know Your Finances – Make a list of your income and expenses, including any debts you or your former partner may have incurred throughout the marriage. Knowing how much money is coming in and out of each household will help you negotiate and divide assets more accurately.

3. Determine Your Goals – Take some time to consider what is important to you and what you hope for in the divorce settlement. Make sure these goals are realistic and achievable.

4. Gather Supporting Documents – You will need to collect several documents, such as financial statements, tax returns, bank account statements and any other records related to the marriage, for your solicitor to review.

5. Talk to an Experienced Solicitor – An experienced divorce lawyer can provide valuable advice and help you navigate the process. At Austin Kemp, our dedicated team of solicitors can provide sound advice on negotiating a fair settlement with your spouse and ensure that you are well-protected throughout the process.

Budgeting and money management is a crucial part of the divorce process. Sit down and create a list of all your income sources, debts and expenses to help you make an informed decision on how to manage your money.

• Ensure you keep records of important documents such as bank statements, payslips and credit card bills. This will help with budgeting now and in the future.
• There are a few options to consider when handling joint accounts, such as closing them and opening new ones or transferring funds into separate accounts. It is best to talk about this with your partner before making any decisions if possible.
• Shared property and assets is another aspect of a divorce. It’s important to discuss who will get what and ensure both parties are happy with the outcome. Property, investments, pensions and cars should all be considered when deciding who will have what.
• If you have a rental portfolio, ensure you have accurate documents to keep track of rental income and any other costs associated with being a landlord.