It Depends

It Depends

One of the most frustrating answers I often receive in life is “it depends.” The question, “How do I get divorced?” should seem simple enough, right? Unfortunately, my answer has to be, “It depends.” Let me show you why by example. Consider the following scenarios:

Couple number 1

  • No kids
  • No property
  • Married 3 years

Couple number 2

  • No kids
  • Own a home
  • Each have retirement
  • Married 10 years
  • Significant debt

Couple number 3

  • Two kids
  • Own a home
  • Sam has retirement
  • Married 10 years
  • Sara hasn’t worked outside the home in six years

At first glance, it may not seem that these couples would have any significant issues to consider when divorcing. However, take a look at the following issues that these couples may face:

  • When kids are involved so are parenting time plans, legal decision-making, and child support.
  • When you have property, decisions have to be made about how the asset will be handled. Will it be sold? Can someone afford to take over the mortgage alone and buy out the other person’s share of the equity?
  • What if all that is really being divided is debt? How do you protect your finances and your credit moving forward?
  • Should one of the spouses receive spousal maintenance, aka alimony? How long and for how much?
  • What about the retirement plan? How much of it has to be shared and how is that accomplished?

There is no one-size-fits-all solution, and the division of property, co-parenting, and personal finances will vary significantly from person to person. So, how you will get divorced will “depend” on your personal set of facts and circumstances. For more general information please read the follow on article titled “Things to Consider” or contact Family Law Legal Consulting directly for information regarding your specific situation.

 

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