Have you filed for divorce?
Every day, more than 2,400 divorces are finalized in the United States. Each one of those cases involved a person or couple who got caught up in the day-to-day of divorce proceedings.
They put off understanding their rights and responsibilities. And when they didn’t have anyone in their corner, they often accepted divorce settlements that left them in financial jeopardy for years.
Well, you don’t have to be one of those people.
Here’s what this guide will cover:
- Your Basic Legal Rights During Divorce
- What You’re Responsible For In A Settlement
- Property Division Explained
- Alimony Basics: What Is Spousal Support?
Your Basic Legal Rights During Divorce
First things first:
When you file for divorce, you have rights.
These are legal rights that you have under the law, whether you know about them or not. Working with the right divorce lawyer ensures that your rights are protected throughout the divorce process.
Your key rights include:
- The right to fair property division
- The right to spousal support (in some cases)
- The right to child custody arrangements
- The right to full financial disclosure from your spouse
And keep in mind:
69% of women are the primary petitioners for divorce. In other words, more and more people are taking control of their situation and fully understand their legal rights and responsibilities. You can be one of them.
You also have the right to negotiate your settlement.
Divorce court isn’t as common as the media makes it seem. The fact is most divorces are settled outside of court by negotiation.
Negotiation gives you more power in the process.
What You’re Responsible For In A Settlement
It’s important to remember that divorce is a two-way street.
You have responsibilities, too.
A divorce settlement isn’t just about what you get, but what you give. To start with, you’re expected to fully disclose your financial information.
By law, you must disclose everything when it comes to:
- Your income
- Assets
- Debt
- Expenses
Do not lie about your finances or hide any assets. The court can punish you if it’s discovered later on down the road.
Another major responsibility is for child support and custody.
If you have children, the court will require both parties to financially support them, no matter what custody situation you have.
Property Division Explained
One of the biggest causes of conflict in divorce is over property division.
The devil is in the details.
How your property gets divided depends on where you live and the type of property involved. The main difference is between community property states and equitable distribution states.
In community property states, all assets are divided 50/50 between the spouses. Separate property that each spouse brought to the marriage or received as a gift stays separate.
In equitable distribution states, the court divides marital property “equitably” or fairly. This doesn’t mean equally.
Courts will look at income, length of the marriage, and both parties’ contribution to the marital estate.
The marital home is always one of the biggest assets. Couples often have a hard time deciding what to do with it during a divorce. Sometimes they sell and split the proceeds. Sometimes one spouse gets to keep it while the other gets other assets of equal value.
Retirement accounts and pensions are also marital property that must be divided.
Alimony Basics: What Is Spousal Support?
One of the biggest misconceptions about divorce settlements is around spousal support.
Let me tell you a secret:
Not everyone is eligible for spousal support. The courts look at need and ability to pay before they award it.
If both parties make roughly the same income, then alimony probably won’t be part of your divorce settlement.
If the courts do award alimony, then they will look at a number of factors like the length of the marriage, each party’s income and earning potential, the standard of living, age and health, and contributions to the marriage.
Alimony can be temporary or permanent. Temporary alimony helps a spouse until they can support themselves. Permanent alimony continues indefinitely, or until they remarry.
Things are changing when it comes to alimony.
Men are traditionally paid alimony more often than not, but things are beginning to change. Increasing numbers of women are paying alimony and spousal support after divorce. This is a reflection of modern society and our changing gender roles and income.
The Financial Reality Of Divorce Settlements
Let’s talk about divorce costs.
The divorce process is expensive. It costs an average of $7,000 to $15,000. For many, it’s more when contested divorces and high asset divorces are concerned.
That’s why it’s important that you know your rights and responsibilities before you sign anything. You need to know:
- What you are entitled to receive
- What you are required to pay
- How to negotiate effectively
- When to compromise and when to stand firm
Divorce settlements need to be done right the first time. A lot of people rush through the settlement process just to get it over with.
But a divorce settlement is a legally binding contract. A bad settlement can financially cripple you for years. Don’t rush it.
Get professional legal help.
Protecting Your Rights During Settlement Negotiations
Negotiation is where your settlement is won or lost.
Negotiation is where an experienced and professional divorce legal services firm comes in. A professional attorney is trained to negotiate aggressively on your behalf while minimizing emotional involvement.
They understand the law and know when the other side is making unfair demands.
Here are a few reminders for negotiation:
- Everything is negotiable until it’s in writing. Don’t just accept an offer because you’re sick of being divorced.
- Document everything. Keep records of your assets, your debts, your communications, and your agreements. These records will protect you if disputes arise later.
- Focus on the big picture. Don’t let your divorce turn into a petty squabble. Save your energy for fighting over the big stuff and don’t sweat the small stuff.
- Watch out for the tax implications. Divorce settlements can come with hidden tax burdens that aren’t immediately obvious. A settlement that looks great today could cost you thousands in tax time.
Keys To A Fair Settlement
A fair divorce settlement is a settlement that meets the needs of both parties.
The characteristics of a fair settlement include:
- An equitable distribution of property and debt
- Reasonable spousal and child support arrangements
- Clear custody and visitation terms
- Provisions for health insurance and medical expenses
- Plans for dealing with future disputes
Fair doesn’t always mean equal.
Fair means that both parties have the financial stability and dignity to move on with their lives.
Your settlement should be realistic and sustainable.
For example, support payments that are too high breed resentment and lead to motions to modify the agreement later on. The arrangement must be one that is sustainable in real life, not just on paper.
Final Thoughts
Understanding your legal rights and responsibilities in divorce settlements is not a luxury. It’s a necessity.
Every divorce is different. The legal framework is the same, but every case has its own unique set of factors that influence the outcome.
This is why hiring a professional divorce legal services firm tailored to your unique needs is so important.
Let’s review:
- You have legal rights during divorce
- You also have legal responsibilities
- There are legal guidelines for property division
- Spousal support is determined by many factors
- Professional divorce legal services are worth the cost
Your divorce settlement is the legal document that will financially impact you for the rest of your life. The decisions you make during the divorce process will have a direct bearing on your financial well-being for years to come.
Make sure you take the time to understand all of your rights, all of your responsibilities, and negotiate a settlement that is truly in your best interest.
We are not lawyers and this is in no way intended to be used as legal advice . We cannot be held responsible for your results. Always do your own research and seek professional legal help.
