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1. Understanding Financial Considerations: Divorce and separation often involve significant financial considerations, including the division of marital assets and debts, financial support obligations, and maintenance of separate households. It's essential to understand your rights and obligations regarding money and property during this process and seek legal advice to protect your interests.
2. Identifying Marital Assets and Debts: Marital assets and debts typically include any property or liabilities acquired during the course of the marriage, regardless of whose name is on the title or account. Marital assets may include real estate, bank accounts, retirement accounts, investments, vehicles, business interests, and personal property. Marital debts may include mortgages, credit card debt, student loans, and other liabilities incurred during the marriage. Our attorneys can assist you in identifying and valuing marital assets and debts to ensure a fair and equitable division during divorce or separation.
3. Equitable Distribution of Property: In divorce or separation, marital assets and debts are typically divided through a process known as equitable distribution. Equitable distribution does not necessarily mean an equal 50/50 split but rather a fair and equitable division based on various factors, including the duration of the marriage, the contributions of each spouse to the marriage, the earning capacity of each spouse, and any other relevant factors. Our attorneys can help you negotiate a property settlement agreement that addresses the division of assets and debts in a manner that meets your needs and priorities.
4. Spousal Support (Alimony): Spousal support, also known as alimony or maintenance, may be awarded to one spouse to provide financial assistance and support following divorce or separation. Spousal support is based on factors such as the length of the marriage, the income and earning capacity of each spouse, the standard of living during the marriage, and any other relevant factors. Our attorneys can help you understand your rights and obligations regarding spousal support and advocate for a fair and reasonable support arrangement that meets your financial needs and circumstances.
5. Child Support: If you have children, child support may be awarded to ensure that the financial needs of the children are met following divorce or separation. Child support is calculated based on guidelines established by state law and takes into account factors such as the income of each parent, the number of children, and any special needs of the children. Our attorneys can help you navigate the child support calculation process and ensure that your children receive the financial support they need to thrive.
6. Protecting Your Financial Interests: During divorce or separation, it's essential to take steps to protect your financial interests and ensure that your rights are upheld. Our attorneys can assist you in negotiating a fair and equitable property settlement agreement that protects your financial interests and provides for your future financial security. We will advocate on your behalf to ensure that your rights are protected throughout the divorce or separation process and that you receive a fair and just outcome.