Establishing Priorities for Your Divorce in Singapore
When divorcing, it’s common to feel overwhelmed with emotion and paralyzed with indecision. But take a deep breath–you have more control over the situation than you realize.
If you develop a clear understanding of your priorities and goals at the outset of the divorce process, you will be more focused, less sidetracked by emotions, and in a healthier position when starting your post-divorce life.
Here are three issues to prioritize your divorce in Singapore and get on the path to a happy post-divorce life.
Understand your most important “wants” from the divorce
No party walks away with everything they want in divorce. Fighting for every item on your mental list through your divorce lawyer is an enormous waste of time, money, and energy. Instead of trying to grab as much as possible, make a three-column list of those items “Need,” “Want,” and those you are willing to “Let Go”.
This list will help your Singapore divorce lawyer to understand your true desires and focus on negotiating and fighting for them without getting distracted by items of lesser importance.
When making this list, be excruciatingly honest with yourself. For each item, ask yourself whether and why you really and truly need those items. Consider the possibility that you have an ulterior motive for seeking them–such as trying to hurt your spouse. If you neither genuinely need or want the item, make a clean break from your old life and let it go.
Know what you own
When divorcing, having an accurate understanding of the state of your family’s finances is essential. You should begin gathering relevant financial documents relating to both you and your spouse as soon as possible.
These documents should include pay stubs, bank accounts statements, loan statements, and tax returns for the past three years. You should also create a list of all property you believe to be matrimonial property, such as real estate, vehicles, furniture, electronics, and other types of property. These documents will enable your divorce lawyer to assess what you’re rightfully entitled to, and help you obtain a just settlement.
Create a post-divorce budget
Many divorce-related fears come from the question: will I have enough money to support myself after the divorce? In most cases, your lifestyle will have to change to a certain extent after the divorce. As you begin the divorce process, create a budget for your post-divorce life.
Write down a realistic estimate of the monthly expenses you expect to have, including rent or mortgage payments, utility costs, groceries, education, healthcare, clothing, travel, dining out, entertainment, and any debt. Next, write down the total income you expect to have, including spousal or child maintenance payments.
Add up the results and see whether your income will cover your expenses. If it doesn’t, you’ll need to re-evaluate your expenses or start considering ways to enhance your income.
Being prepared for financial changes is an important step in taking control of your life. It’ll eliminate unhappy budget-related surprises down the road and help you better visualize other changes you might need to make to make your post-divorce life a satisfying one.