A legal separation attorney in Stony Brook New York can explain that the first steps that a person takes before initiating the process of a legal separation can have a dramatic impact on his or her financial future. Some of the steps that a legal separation attorney in Stony Brook New York may recommend before filing include:
Know Where You Stand
Gather documents that show your current assets, income and liabilities. Gather tax returns, bank statements and investment documents. Also, get a free credit report to see if any unexpected debts are on it and to see the current balance on important debts.
Open a Separate Account
Open an account in your name only in order to save for emergencies and upcoming legal fees. You may want to consider doing the same for a credit card.
Consult a Lawyer
Talk to a family law attorney. Discuss what property you are entitled to under New York laws and other issues related to the separation, such as child custody, parenting plans, visitation and child support.
Consider Mediation
Mediation can sometimes help you work out a settlement in a more affordable manner. A mediation agreement can take extraneous factors into consideration and establish a plan, such as how to pay for summer camp or college and the requirement for the supporting spouse to have life insurance.
Complete New Legal Documents
Consider drafting a new will, power of attorney and healthcare proxy documents as you may no longer wish for your spouse to fulfill these roles.
