Those who’ve been through a divorce would vouch for the fact that the process can be both emotionally and physically taxing. The involvement of numerous factors, such as property, assets and debts, children or other separation issues, makes it a complicated and time-intensive exercise. As the dissolution of a marriage is an exhausting process, it is essential to hire the best divorce lawyers available, with whom the couples can comfortably discuss the details of the situation, and find a solution that works out well for both of them. To help get started, this blog post discusses five focus areas couples need to consider when filing for a divorce.
1. Financial Agreement
The court’s decision about the property division is final at the time of divorce. It is, therefore, important to not get carried away when deciding the financial implications of the separation. If a partner never paid too much attention to the family’s financial planning, it is advisable for them to first find out all the assets and liabilities of the family, before they may discuss the terms of separation. In addition, it is essential to be completely transparent about the assets available, as hiding or altering any piece of information will only lead to problems in the future.
2. Tax Obligations
Divorce proceedings may entail tax consequences, and therefore, it is necessary to have a clear idea about any hidden tax obligations. Spouses need to understand that taxable gains, such as receiving stocks, shares, real estate or bonds can leave them vulnerable. Get the help of a tax professional to discuss the tax implications of capital gains, maintenance payments, child support and the separation of retirement assets.
3. Spousal Maintenance
Spousal maintenance (alimony) is an additional amount of money that a spouse pays temporarily to support the ex-spouse after a divorce. To get spousal maintenance, the plaintiff needs to prove that, after the divorce, they will not have enough means to meet their minimum expenses.
Spousal maintenance can become a legal requirement if:
- The couple has been married for 10 years or more and the spouse made efforts to earn a sufficient income or develop necessary skills to earn an income
- The other spouse committed family violence
- The requesting spouse faces an incapacitating disability
- A child of the marriage has a physical or mental disability that prevents the spouse from taking up a full time job
4. Parenting Schedule
Couples who have children must have an agreement on all aspects of the parenting schedule, including pickup and drop-off times, holiday and vacation schedules, and other finer lines of parenting. People’s approach to parenting responsibilities often changes after divorce, and therefore, it is necessary for separating couples to work out on a plan that prevents any misunderstandings in the future. A specific parenting plan is also helpful for the children as it saves them from the turbulence that may arise from future confusions and miscommunications.
5. Court-ordered Attorney Fees
Courts, in certain cases, order one of the spouses to contribute to the attorney fees of the other spouse. If the person fails to pay the court-ordered attorney fees, it may lead to legal consequences. Taking into consideration these regulations, it is advisable to ensure that the agreement clearly mention the total amount that needs to be paid and the last date for making the payment. Mentioning the terms for court-ordered attorney fees provides the spouse the ability to enforce the agreement if the other spouse fails to follow the agreement.
Divorce laws vary from state to state, and therefore, separating couples need to hire a divorce lawyer with experience local Family Law Courts. Hiring a legal expert not only protects your assets and property but also ensures that the divorce process proceeds in with as few hiccups as possible. If you are looking for the best divorce lawyers in Texas, look no further. We are Texas divorce lawyers, licensed to try both jury and nonjury cases. Get in touch with 123 Divorce Company for a round of no-obligation consultation. You can reach us at 214.599.9979.