Did you know that as of 2024, approximately 40% to 50% of first marriages in the United States ended in divorce? Divorce can be one of the most difficult and emotionally draining events in a person’s life.
Knowledge of what you are entitled to in a divorce helps you assert your rights regarding property division, alimony, and custody of the children.
Dividing assets is often complicated, especially regarding alimony and custody rights for children.
Let us look at what you might be entitled to during a divorce, focusing on three key areas: assets, alimony, and custody.
Understanding Asset Division
When considering asset division in a divorce, carefully study how much a divorce lawyer costs and whether you need one. Determine what constitutes marital and separate property.
Marital property refers to assets obtained during the marriage, such as houses, cars, or pension plans.
Separate property could be things owned before the marriage or assets acquired through a gift or inheritance.
Depending on the applicable state laws, your assets can either be equitably or equally divided. Unlike equal asset division, which divides marital property equally, equitable division distributes marital assets fairly based on specific factors.
Debts are taken into account during the division process. You can share accumulated liabilities during the marriage to prevent asset division.
Cooperate with your ex-spouse to work out a suitable settlement. If communications fail, it is better to have a divorce lawyer assist you with investigating every possible legal option for resolving the issue.
Exploring Alimony Rights
Spousal support in a divorce is decided based on several factors.
One of the most important factors in determining alimony is the length of the marriage. The longer the marriage, the larger the alimony amount is likely to be. Keep in mind that courts tend to provide for equivalent lifestyles for both parties.
The court will review your income, expenses, and earning ability. You may be eligible for long-term support if you are a stay-at-home parent or if you have minimal work experience.
Any changes in a person’s financial situation will influence the court’s decision in the divorce case. Courts use the standard of living established during the marriage to keep the parties as close to that level as possible after the divorce.
Other factors that affect alimony are age, health, and financial capacity. Speak with a lawyer who can explain the process and is familiar with both federal and state laws regarding divorce.
Child Custody Arrangements
Child custody arrangements are regarded as the most emotional aspect of a divorce.
The court will make its decision based on what is best for the children.
Custody resolution involves one of two concepts: legal custody and physical custody. Legal custody is about how parents will make important decisions for their child. Meanwhile, physical custody concerns where the child will reside after divorce.
You can choose whether to have shared custody duties or sole custody. The former splits parental duties among parents and the latter gives custodial duties to one parent.
It is advised to cooperate with your ex to formulate a parenting plan that fits all your children’s needs.
A lawyer can help draft a parenting plan for visitation, holidays, and education.
Steps to Protect Your Rights
Prioritize hiring an attorney to handle your divorce. Having a legal professional by your side guarantees the protection of your rights. Choose someone who specializes in family law.
Obtain all financial records and arrange them properly. Include documents like bank statements, tax returns, and property deeds. These documents will affect the distribution of assets and child custody.
Start documenting everything that relates to the divorce process.
Open a separate bank account to regain control of your finances. This will help avoid financial complications in the future.
See to it that the welfare of children is prioritized. Your custody agreement should be clear and straightforward.
Always consult a divorce lawyer for legal advice before making any decisions.
