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Jun 5, 2011

Legal Checklist For Divorcing Couples

Divorce and General Articles

Here is a list of legal considerations for divorcing couples.  This list is just a guide and should not be considered a substitute for a divorce attorney.   Please seek a licensed professional when entering into the divorcing process.

 _____Division of Property—must have an agreement on division of all real           and personal property, investment accounts, home, retirement, etc…

 _____Marital Debt—define what it is and how it is to be divided

 _____Custodial Parent—who will be the custodial parent or will custody be shared.

 _____Child Custody Arrangement, visitation for the non-custodial parent

 _____Child Support-must agree on an amount to be paid by the payer.

 _____College Expenses—if parties agree to take on these expenses (they are not required under PA law), then how will they be split.

 _____Alimony/Spousal Support

 _____Health Insurance coverage for the children and splitting the out of pocket costs

 _____Health insurance coverage post-divorce for each divorcing party

 _____Jointly-Owned Businesses-determining the present market value of the business as an asset and dividing the asset, either through a sale or buyout.

 _____Legal/Professional Fees—assessing the cost of divorce, litigation vs. mediation.

_____Make full use of any governmental schemes designed to provide financial aid, including any Tax Credits and Child Support.

_____Notifying all official and relevant organizations of any changes to your circumstances and your soon to be changed marital status.

_____Update  wills and trusts

_____Clarify any changes with insurance company on policy beneficiaries

_____Notify banks and other creditors  of divorce and change signature cards

_____Review credit score and history and take necessary steps to repair or establish credit for each spouse.