Keep your divorce from taking over your life
Since no one goes into a marriage with the expectation that it will end in divorce, it can be difficult or impossible to prepare for this eventuality. Unfortunately, many marriages do result in mutual separation. When the time comes to part ways, spouses who wish to get the process behind them as quickly and painlessly as possible would do well to understand some of the factors that can complicate a divorce. These four are among the most common.
1. Lots of Assets
Although high-asset divorces can certainly be amicable, the existence of vast quantities of marital assets is likely to complicate even the most friendly proceedings. Whether you’re dealing with seven-figure retirement accounts, expensive pieces of real estate, illiquid investments or other valuable holdings, you’ll need to keep track of the state laws and legal precedents that govern their division. Arranging a prenuptial or postnuptial agreement may dramatically simplify this part of the divorce process.
2. Lots of Debt
The flip side of the “assets issue” is the matter of debt. These days, many divorces are caused by financial disputes that center around debts that were either brought into a marriage or incurred after the fact. Even when debt isn’t the primary cause of a divorce, determining who is on the hook for what can be a contentious, legally fraught process. Debt is another issue that can be mitigated by a prenuptial agreement.
3. Uneven Earning Power
“Modern” families increasingly include two breadwinners, but some families continue to operate single-earner households. While there’s nothing wrong with living in a single-earner household, these family structures tend to produce a variety of issues during a divorce. Spouses who haven’t accumulated career-relevant skills may be entitled to larger alimony and spousal support payments after a divorce. If the nonworking or lower-earning spouse receives full custody of the couple’s children, this is even more likely.
4. Child Custody Issues
Children always add an additional layer of complexity to the divorce process. Although it’s hard to settle these matters in a prenuptial agreement, it can help to discuss child custody matters with your spouse before initiating the divorce. It’s also important to take the wishes of your children into account and pay close attention to the Indiana Parenting Time Guidelines.
Talk to a Trusted Indianapolis, IN, Family Law Attorney
No matter what circumstances brought you and your spouse to the point of divorce or what sorts of factors could complicate a divorce for you, it’s important to work with an experienced divorce attorney who can shepherd you through this trying time. For more information about how to approach your divorce and what to do to make the situation easier for everyone involved, fill out our online contact form or call (317) 842-8283.