The term “exit plan” usually refers to business matters. It is not something that many people might think of when they are seeking a divorce.
However, using this type of tool in a divorce can give individuals a significant advantage. Getting a divorce in North Carolina often involves numerous details and steps that spouses must take, but an exit plan can help individuals organize their priorities before moving forward with a divorce.
What is a marriage exit plan?
Although an exit plan is not an official document, such as a prenuptial agreement, it is still a helpful tool that can help individuals navigate their divorce. Creating an exit plan can have several benefits, including:
- Informing and preparing individuals of complex divorce matters;
- Arranging and protecting their finances before the divorce;
- Mitigating risks and conflicts before they happen; and
- Establishing goals for the divorce proceedings and post-divorce life.
An exit plan is one step that individuals can take to protect their interests and needs during this time of significant change in their life.
What should you consider in your exit plan?
Individuals can consider nearly every detail of their divorce when making an exit plan, including, but not limited to:
- Taking an inventory of their current finances;
- Deciding what property they would like to keep;
- Determining where they, or their spouse, will live during the separation period and upon divorce; and
- Negotiating what type of custody agreement will best fit their family’s needs.
Like a business exit plan, a marriage exit plan helps create a smoother transition in a stressful time of change.
The way you exit a marriage can make an impact
When it comes to divorce, many people only think about the end of the marriage. Not many people consider precisely how it ends, or what it takes to file for divorce.
Thinking about these details and developing a plan beforehand can help individuals feel prepared for the next chapter of their life.