How to Prepare Financially Before Filing for Divorce in Texas
Divorce involves both emotional and financial change, and preparing early can make a major difference in your long-term stability. If you’re considering a divorce in Texas, understanding your finances before filing can help protect your interests, reduce conflict, and ensure a fair outcome once the process begins.
Gather Important Financial Documents
Before you file, start by collecting copies of all key financial records. These documents will form the foundation for determining property division, support, and other financial matters in your case. Important items include:
- Recent pay stubs and income tax returns
- Bank and credit card statements
- Mortgage and loan documents
- Retirement and investment account summaries
- Vehicle titles and insurance policies
- Business ownership or partnership documents (if applicable)
Having organized records helps your attorney assess your complete financial picture and ensures you don’t overlook assets or debts that may affect your settlement.
Understand Community Property in Texas
Texas is a community property state, which means that most assets acquired during the marriage belong equally to both spouses. This includes income, real estate, and retirement savings. However, separate property—such as gifts, inheritances, or assets owned before marriage—generally remains with the individual spouse.
Knowing how community property works helps you understand what may be divided during your divorce and what may remain yours alone.
Check Your Credit and Establish Financial Independence
It’s important to know where your credit stands before filing. Request a free credit report to review any joint debts or accounts that could affect your financial stability after the divorce. You may also want to:
- Open an individual checking and savings account
- Apply for a credit card in your own name
- Track spending to understand your monthly expenses
These steps help you begin building independent credit and financial security, which will be especially important once household income and expenses separate.
Budget for Life After Divorce
Even if you and your spouse currently share finances, it’s wise to create a post-divorce budget. Estimate your expected income and expenses based on your new circumstances, including housing, utilities, transportation, and childcare costs. Being realistic about your budget helps you and your attorney negotiate fair spousal or child support arrangements that reflect your actual needs.
Avoid Major Financial Moves Before Filing
Try to avoid making large financial decisions—such as selling property, cashing out retirement accounts, or transferring assets—before you file. These actions could raise red flags in court or affect how property is divided later. If you need to make any significant changes, discuss them with your attorney first to ensure they comply with Texas law.
Plan for Temporary Orders and Immediate Expenses
Once you file for divorce, the court may issue temporary orders to address short-term issues like living arrangements, custody, and financial support. Having an emergency fund or separate account can help you manage immediate expenses during this transition period.
Local Guidance for San Antonio and Boerne Families
Preparing financially for divorce can be overwhelming, but having the right guidance makes all the difference. Gilbert Law Office represents clients across Bexar County and Kendall County, with offices located on Bandera Road in San Antonio and near the Dominion off I-10 in Boerne. Attorney Matthew Gilbert helps clients plan ahead to protect their assets and achieve financial clarity throughout the divorce process.
Work With a Texas Divorce Attorney Who Can Help You Prepare
Divorce is as much a financial process as it is a legal one. With careful preparation and experienced legal guidance, you can protect your future and move forward with confidence. Attorney Matthew Gilbert provides practical, results-driven support to help clients organize finances and navigate the Texas divorce process effectively.
Contact Gilbert Law Office today to speak with a divorce attorney who can help you prepare financially before filing for divorce in Texas.