Things To Ask For In a Divorce Settlement
Divorce is a critical process to go through, and it is typically filled with many emotions and unbearable feelings, stress, and heartbreak. The ratio of divorce is 30% to 40% each year, we can easily say that it may not be easy, but it sure is a very common process nowadays. The entire process is challenging, and you have to consider a lot of things before you proceed to the divorce settlement. It is also referred to as a marital settlement or divorce agreement. In this article, you will understand what things to ask for in a divorce settlement, so you get the most out of it.
A divorce settlement may be a heartfelt moment, and many people let go of things they shouldn’t. It is best to take what’s rightfully yours, and this is why a divorce settlement is important, which legally binds the involved parties to settle. When your spouse agrees to the terms and conditions of the divorce, you will be able to get the full range on topics like child support, division of property, spousal support, child custody and visitation, and all other relevant issues in your situation. Most people do not know these things, and that is why they contact a reliable and professional Divorce lawyer who can make things easier and smoother for them.
When you take the agreement to court, the judge will look at it and implement all the terms according to the violations. But how are you going to make a proper divorce agreement ready for the court?
Here are some things to ask for in a divorce settlement, some tips for creating a foolproof divorce agreement for both parties involved.
Start with the Basics
First, gather all the necessary forms that you will need for your divorce settlement to be completed according to the court’s requirements. You download the forms from the official website. You can also get the forms from your courthouse library. Now you have to include the details about your marriage that includes, but is not limited to:
- The date you got married.
- Date of separation
- Names and ages of any children
- Grounds for divorce
The next step is to confirm the agreement to let the court understand that you and your spouse agree upon all the terms and conditions present in the contained agreement (an uncontested divorce). Move on to the next step, which is getting it signed by the witnesses. This agreement will legally bind you and your spouse.
Now, let’s move to the things you can ask in a divorce agreement.
Identify and Divide Assets and Debts
Start by evaluating the money involved, which you and your spouse will divide according to your divorce agreement. Generally speaking, anything that you and your spouse owned or owed before the marriage will remain as a separate asset or debt. Anything you acquire during or after marriage will be considered marital property even if only one of you has used it. All the assets that are considered marital assets will be subjected to division at the time of divorce.
Average couples may have a variety of assets such as a house, car, electronics, recreational vehicles, pieces of equipment etc. some of them will be considered separate, and some won’t.
There is a very important thing you and your spouse need to do to develop a seamless divorce experience, and it is communication. Who will own the property and other assets, and how everything will be divided. You both will need to conduct the matter in a civil way.
If matters are not quite civil, then the involvement of a lawyer is important. You will have to hire a family lawyer that may help smoothly conduct the matter. This lawyer will talk to your partner on your behalf.
You will move on to how your finances will be divided.
Start with all the bank accounts involved, such as joint accounts, investment portfolios, retirement assets, and earned amounts during the marriage. Move on to the joint debts, such as bank loans, credit card debts, mortgages and car payments etc., unless you both agree, otherwise the court will hook both parties to pay the joint debts.
Creating Parenting Plan for Custody and Visitation
Now move on to discuss an agreement if you have children. You will have to decide if one of you will be getting sole custody or not. It depends on the condition of the divorce and your family situation. Since divorce has become a norm, most couples decide to divide the custody in half, which means 50/50. In some cases, the division is 60/40, whatever works best. For instance, if the couple chooses 60/40, the individual getting the most custody will be referred to as the primary parent. The other one will be the secondary parent.
If one parent chooses to be responsible for sole custody will be given a chance to spell out the term and conditions for the visiting parent. It would be best if you made sure days, weeks, and times of visitation. When will it start and stop, and how will it work during the holidays? It will help you minimize all the problems down the line.
Child Support and Spousal Support (Alimony)
Last but not least, you will have to discuss the child and spousal support. In this case, you need to remember that you can only vouch for yourself for spousal support. Any monetary support for the child will be decided by the state or provincial guidelines that will suggest the final amount payable. If the parents can afford it, they can increase the amount payable on the expenses such as music lessons, sports camp etc.
In most cases, things to ask in a divorce settlement are adequate, and it rarely happens that the matter gets complicated. If you think your matter is complicated, you can always contact us, and you can get a free consultation regarding your matter.