Divorce is usually an emotionally exhausting event in the life of a couple. For the parties involved, this can be a stressful time while they decide how to divide their assets, split parenting time, and protect the kids from the complexities involved.
While you may want to finalize your divorce as quickly as possible through negotiations, it’s best to take it slowly, so you can get everything you need for your future and your children’s future. You want to reach a fair settlement agreement with your spouse, so you can have a clean separation and leave the relationship amicably. To make sure you get everything you need in your divorce settlement, have a Turco Legal, P.C. divorce attorney handle your case. The following are things you want to ask for in your divorce settlement:
A Reasonable Share of Assets
Depending on the length of your marriage, you and your spouse must have accumulated assets. You may want to keep some of these assets while caring less about the rest. Also, you may have to keep some items based on your health, income, and the future of your kids.
Rather than dividing your belongings down the middle, you should think about evaluating your circumstances and keeping the assets you will need down the road. Also, have a neutral party perform a property valuation to make sure you obtain a fair hand in asset distribution.
Child Support and Spousal Support
While there are legal guidelines for child support, you and your spouse can decide on a child support amount. But keep in mind that this financial concern revolves around your kids and what’s in their best interest.
As you and your spouse map out child support in your divorce agreement, ensure you account for the lives of your kids before the divorce and how to maintain this after the divorce. Speak with your lawyer to sort out all the particulars of your case.
In addition, you may also want to negotiate for alimony if it is not assumed. Determining a reasonable spousal support amount and duration is often hard. Thus, you should seek help from your attorney.
Investment and Retirement Accounts
A divorce can significantly change your retirement plans. Because you cannot work for life, you must want to get a fair share of your investment and retirement accounts. Take note that premature withdrawals, which are amounts withdrawn from a retirement plan or IRA before age 59, can be subjected to an extra 10 percent tax. Speak with your attorney if you want to roll over funds to a retirement account of your own.