Lawyer notice

Not much side effect. Just a 498a criminal case for which you need to spend money for bail, lawyer etc. DV case to spend money on interim maintenance and lawyer fees besides roaming courts, a 125 crpc case as icing on those cases and a divorce case too. All these cases might also be on your parents also mind you. She'll also take away all her and possibly your jewelry etc. as streedhan. If you are lucky you'll come out of the mess as a pauper after 10 years. So don't worry, not much side effect.

Before going to take any legal step first collect evidence against her like when she insult taunt etc you make a video or audio recording of that. These recording will help you in future. Once you move in legal matter your and your kids life will ruin in roaming courts and spending money on lawyers. Once you give her legal notice she will file false cases on you and your entire family &your relationship will finished forever. You should Try to involve elder or common relatives to solve problem before going in legal matter for sake of kids future. Family matter should be solve within four walls.