Going through a divorce doesn’t only take an emotional toll on everyone included, but it also signifies that a certain part of your life has come to an end. Dealing with this fact is never easy, and what’s more, you have to make numerous changes in your life.
As if this isn’t enough, there are many potential legal issues that can arise during the whole process. It doesn’t matter if your divorce is amicable because there are some things that have to be addressed and resolved before it is concluded. It isn’t possible to avoid these, and in the following text, we will provide you with some essential information about every aspect of the process.
Division of property
The very first thing you have to agree on with your partner is the property division. The duration of your marriage doesn’t matter since there are almost certainly assets and debts involved. According to Attorney Jeffrey D. Brownstein, both sides must gather all the documentation regarding the finances. Generally speaking, assets usually include property and real estate, a company (if there is one), retirement accounts, stocks and bonds, vehicles, and even personal property, such as home furniture, devices, appliances, jewelry, etc. On the other hand, when it comes to debts, these usually consist of mortgages, personal loans, business and student loans, medical bills, credit card debts, and so on.
Yes, you can complete this stage of the process without having a representative, even though this may not be a good idea, especially if you are not sure that everything will be divided fairly. Whatever the case is, you have to write down each of these points and add a rough estimate of their value. This way, everyone included in the process will be able to understand what is on the table quickly, and it will be easier to complete this initial aspect of the divorce and divide the property equally.
Can adultery affect this?
One of the most frequent questions people have is whether adultery or cohabitation can affect property division. This mainly depends on the state you live in. Some states recognize fault-based divorces, and in these cases, the spouse who committed adultery may receive a smaller portion of the assets if the judge decides so.
In addition, this may also happen if one of the spouses starts living with another love interest. Naturally, this won’t be considered adultery, but the judge still may decide that you are using martial funds, and you may be forced to reimburse them to your ex-partner.
Alimony or spousal maintenance is not as frequently awarded as it used to be, but there are still some situations where one side can demand it. For example, if you believe that alimony is appropriate in your case, you should present the other side with your monthly spending and budget. Obviously, these have to be realistic. If you cannot meet these and your ex-spouses can contribute, you may be eligible for spousal maintenance.
The most important thing during this process is to determine how long one side will receive alimony. In most cases, this is a long-term commitment, but some limitations have to be set. For example, in some cases, the amount of money steadily decreases over a certain period of time until it completely stops. This usually happens if one of the spouses is currently unemployed, and it is presumed that they will find a job sometime in the future.
Can you lose alimony?
Yes, you can. There are three things that effectively terminate spousal maintenance. Naturally, the first one is the death of a spouse, the second one is remarriage, and finally, if you decide to move in with a new partner, you will stop receiving payments. In a nutshell, if you really need this income, you should wait and take it easy with your new partner.
If you have children, this is the most important thing you and your ex-spouse have to discuss and make an agreement. First of all, there is legal custody that is usually awarded to both parents, meaning that they will have to agree on the education their child will have, any major medical concerns and surgeries, and so on.
Furthermore, there is also physical custody. When it comes to this, parents have to make a co-parenting schedule that will enable them to spend an equal amount of time with the child. This is something that completely depends on spouses, so some may decide to have a week-on / week-off agreement, while other choose to spend two days of the week with the kid and switch weekends. In some cases, if one of the parents doesn’t live in the same country, the child can have a permanent residence at the other parent’s house but travel to the other one for holidays and school breaks.
Finally, there is a matter of child support. Generally speaking, it is relatively easy settled. If the child lives with one parent permanently, the other party pays the alimony to cover all the day-to-day expenses. The factors that affect the amount of money received are custody agreements as well as incomes from both of the parents. It is expected that both parents will participate in paying all the child-related expenses based on their incomes. If their incomes are somewhat similar, parents may agree that they will both contribute equally. As you can see, this is another reason why it is vital to gather all your financial records and present them to both your attorney and the other party.
All in all, these are the most important things you have to take care of during your divorce. Naturally, each of these can pose a challenge of its own, especially if your relationship with your ex-partner is strained. However, keep in mind that when it comes to your children, your main responsibility is to ensure that every agreement works in their favor. The judge and your representatives will also make your kid’s interests a priority.