Ending your marriage can be a tedious process. You have to think about property division, custody agreements, and other matters that need to be ironed out before the divorce can be finalized. Aside from that, it can also be emotionally taxing and stressfu
However, it’s important to clearly understand what you must do and agree upon before finalizing your divorce. That’s because not doing so can result in much unnecessary stress down the road. Taking care of these things can also give you more time to focus on the truly important things, like your well-being and your children’s.
So, what do you need to agree upon before finalizing a divorce? Here are some things to keep in mind.
1. Division of assets and debts
Divorce can be costly, so it’s important to understand who will be responsible for what debts and assets. You’ll need to determine who gets the house, the car, and other shared property. You’ll also need to decide how to handle things like credit card debt and mortgages.
Dividing assets and debts is one of the most important aspects of a divorce decree. In community property states, all assets and debts acquired during the marriage are considered joint marital property and are subject to division upon divorce.
In equitable distribution states, the court will divide assets and debts equally, but not equally. Factors that the court may consider in dividing assets and debts include the length of the marriage, each spouse’s earning capacity, each spouse’s contribution to the acquisition of assets, each spouse’s financial needs, and the tax consequences of the division. Once the court has determined, it will issue a decree dividing the assets and debts between the parties.
2. Child custody
Child custody is one of the first things you must agree upon before finalizing a divorce. If you and your spouse can’t come to an agreement, the court will make the decision for you. The court will consider various factors, including the child’s age, education, and health. In some cases, the court may also consider the child’s relationship with each parent.
Suppose you are in the midst of a divorce and have not yet reached an agreement on child custody. In that case, it is essential to consult a competitive divorce lawyer who can help protect your interests. By understanding the law and working with an experienced attorney, you can increase your chances of securing custody of your children.
3. Child support
Child support is often one of the most contentious issues in a divorce. Still, it is important to try to agree on this before finalizing the divorce. The court will usually order one spouse to pay child support to the other based on factors such as each spouse’s income and the custodial arrangement.
However, suppose the parents can agree on an amount of child support that both are comfortable with. In that case, it is often better for everyone involved. In addition, child support can be modified in the future if circumstances change, so it is vital to ensure that the agreement is flexible enough to accommodate these changes. With this in mind, child support is one of the things you need to agree upon before finalizing a divorce.
4. Alimony
Alimony is often one of the most hotly contested issues when it comes to divorce. Alimony, also known as spousal support, is a payment from one spouse to another after a divorce. The payments are meant to help the receiving spouse maintain their standard of living after the divorce.
The amount and duration of alimony payments will vary depending on the couple’s circumstances. Factors that the court may consider when determining alimony include the length of the marriage, each spouse’s earning capacity, each spouse’s contribution to the marriage, and each spouse’s financial needs.
Alimony can be difficult to resolve, but it is important to try to agree on an amount before finalizing the divorce. If you and your spouse cannot agree, the court will decide for you.
5. Pre and post-nuptial agreements
Pre and post-nuptial agreements are essential for protecting your assets in the event of a divorce. While many couples believe these agreements are only for the wealthy, this is not the case. If you have any assets or property that you want to keep separate from your spouse, you should consider signing a pre or post-nuptial agreement.
These agreements can also be helpful in cases where one spouse is significantly wealthier than the other. By signing an agreement, you can protect yourself from having to divide your assets evenly in the event of a divorce. Pre and post-nuptial agreements can be complex, so it’s important to work with an experienced attorney to ensure that your agreement is fair and legally binding.
The divorce process will be much simpler if you and your spouse agree on these key issues. If you cannot agree, you may need to seek help from a mediator or lawyer to negotiate a settlement. In either case, it is important to understand what you want before moving forward with the divorce.
