Going through a divorce can be a trying time in your life, but a divorce in Idaho doesn’t just end with a settlement agreement. After deciding to part ways with your spouse and seeking joint legal consultations while you settle the terms of your divorce, there comes a time when you will need to consider your own future. This includes financial stability and co-parenting concerns if you have children.
The terms of your settlement agreement can often point to what you need to do next. Because life without a spouse can be very different, you need to be prepared for it and consider your self-interest in managing assets, finance, and future responsibilities. Here is a list of things you need to think about when getting a divorce in Idaho, to help you set up your new life:
1. Collect and Verify Your Documentation:
The first thing you will need to do after your divorce in Idaho is to make sure you have all your required documents at hand for future use. First, you will need to get a certified copy of your divorce decree, and a copy of your Marital Agreement Settlement. Based on these two documents, it is advised that you develop an executive summary with the help of your lawyer so that both you and your ex-spouse can understand the terms of a lengthy contract.
2. Change Your Surname:
These documents will also help set the different responsibilities of you and your ex-spouse, so you can expect a checklist of tasks to follow. In this separation, it is also important to make sure that all your documents carry your correct name, which you may need to change if you took your spouse’s name when you first married them. You will need to change your name with the Social Security Administration, passport office, insurance office, and your bank.
3. Manage Your Assets:
Your assets include your house, your cars and vehicles, and other properties that could include land, savings, etc. A division of resources depends upon your agreement with your ex-spouse. For example, when it comes to your house, you may either sell it and divide the profits or grant ownership to one party.
If you sell your house, you will need to hire a realtor. Profits can then be divided based on whatever arrangement you decide upon. However, if you or your spouse keep the house, you will need to draft a Spousal Transfer Deed, and also consider the division of mortgage and who is going to pay how much of it.
4. Manage Your Finances:
To get a clearer picture of the finances and assets you have at hand, you will need to manage your finances properly. This includes any bank accounts, brokerage accounts, and any savings account you may have. In case your ex-spouse is named as a co-signee to these accounts, you will need to remove them and open new accounts with the assistance of your bank or financial institution.
Additionally, you will also need to separate your insurance payments after your divorce in Idaho; this can include health insurance and other forms of coverage for your children, your assets, etc. A new plan may also be needed if your spouse’s insurance was covering you previously. An experienced financial advisor or accountant can be of help in this matter.
A major concern for divorced individuals is handling their child support, according to the agreements made in your divorce settlement. For the long term, you must also consider pension and retirement accounts with your bank, and any benefits you receive from your employer. In protecting your credit, it is important to check your financial statements regularly and manage all the accounts and expenses set up.
Getting a Divorce in Idaho:
According to official data, the current divorce rate in Idaho stands at 12%, with the national divorce rate standing as the 6th highest in the world; where over 50% of people end up divorced. The most common reasons for divorce in the state include money issues, infidelity, and incompatibility.
Getting a divorce in Idaho means that you will need to abide by state and national laws and also go through the relevant organizations and documentation.
Find Support Through a Divorce Lawyer in Idaho:
While getting a divorce in Idaho, you may need all the help you can get through an emotionally and legally difficult time. Because of the divide in families, co-parenting concerns, and also financial and legal problems, a divorce settlement requires the help of trained legal attorneys. Contact Boise Family Law today for experienced attorneys that help protect your interests through your divorce.