A divorce is not just defined by the termination of a marital association between two people, but it also involves the division of a couple’s properties including debts. If there are minor children involved in the process, the process of divorce includes custody, support, and inspection considerations as well. In a wide range of cases, both spouses feel entitled to get the biggest part of the marital assets. Likewise, there are lots of sensitive issues that need to be covered in a divorce settlement.
Apart from the emotional turmoil, financial assets also have their say. This is why it is necessary to get an impartial divorce settlement which can only be done if one has the knowledge of all the important elements. For your reference, we have highlighted some of the important things that you need to ask for in a divorce settlement.
In a typical divorce settlement, there are four main things including resolve are domestic support obligations, property separation, marital debt apportionment, and custody. If you are asking for things in a divorce settlement, it is necessary to think through these important issues.
Staying in a marital property can be extremely crucial, particularly if there are minored children involved. If you wish to hold the marital home but are not given your spouse’s equity in the home as per the signed divorce settlement, you may need to buy it. Due to this, it is recommended to think carefully about whether holding the marital home is a financially viable decision before opting for this asset in a divorce settlement.
Division of Debt
This is one of the toughest things to consider in a divorce settlement. If there is a joint debt, both the parties incur the running debt. Note down all the debts both of you owe, both combined and separately, to find out which debts would be under your liability after the divorce. Be ready with your reasoning behind the separation of debts.
The division of retirement funds is an extremely critical issue during divorce negotiations for couples married for longer years or who are approaching the retirement age. It is necessary that you ask for your fair share of retirement funds, particulalyas you cannot depend on your spouse’s Social Security or pensions after the divorce.
Life Insurance and Health Insurance Policies
If you have a family floater health insurance, you can choose to continue the remaining coverage in the divorce settlement. Consult with your divorce lawyer regarding this. Ask your partner to continue paying the premium for the insurance coverage if you and your children as its beneficiaries.
School and College Tuition Fees
As education is an essential part of our lives, it is necessary to discuss this matter with your spouse’s divorce lawyer. Even if your children are not in school, it is better to seek clarity on this matter to avoid any confusion in the future. Always remember that it is an important part of the divorce settlement.
Except there is a big reason why your child should not mingle with your ex-spouse, proper parenting time is essential for both the parties and the child. Your child ceases to develop a better relationship with both parents which is actually beneficial in all aspects. Moreover, equal parenting time is found to decrease the chance of conflict between ex-spouses and child care expenditures for both parents.
Family Heirlooms and Jewelry
Jewelry and family heirlooms may contain a significant value for you. According to a leading divorce lawyer in San Diego, it is better to prepare a list of these items given their preference which can be extremely helpful, particularly if you want to negotiate on them during the process.
Also Read: What Is the Secret to Be Happy in a Marriage, According To A Divorce Lawyer?
The process of divorce tends to be complex and one needs to have a thorough knowledge of various elements that play a substantial role in the final outcome. This is why it is better to choose a skilled and experienced family lawyer or a divorce lawyer in San Diego from Mesnik Law Firm who can understand your specific situation and suggest the best way forward.