Not many people understand that you can prepare ahead for divorce in some situations. Often, this involves both spouses deciding together when it might be best to file for a divorce. Other times, one spouse may have reason to keep their plans secret and pick the right time alone.
In most situations, people choose to divorce when it becomes clear that they cannot repair their broken relationship. They rarely wait until their financial forecast is as promising as possible. However, waiting until your finances are stable before filing for a Texas divorce is always a good idea.
Preparing for divorce with financial concerns
When money and marital property are among your top divorce concerns, how do you know when is the right time to file the paperwork?
We suggest taking an objective look at your and your spouse’s financial situation to identify the ideal time (for your circumstances) to start your divorce. Situations that may qualify as the ideal time include:
- When you have received a lucrative windfall of some sort, like a raise (giving you more money to support yourself)
- When you have minimal credit card debt and a decent credit score
- When the housing market in the Houston area is favorable to sellers, not buyers
- When your kids are old enough to support themselves without your financial assistance
Some couples still have enough trust remaining to initiate divorce proceedings without having to choose the right time. However, those married to a bully, narcissist or abuser might not be able to wait until they have enough money to survive without help.
If you still cannot decide when to end your marriage, learning more about Texas divorce and property division laws can minimize your financial risk.