When your marriage seems to be on its death bed, one of the best options you may have is to call it quits before either of you does some regrettable things. News about couples who have hurt each other and even their children are all over the media today. No divorce is similar to the other, including collaborative divorce in Boulder. Nonetheless, the four issues explained in this article must be discussed and handled in all divorces, regardless of whether it is a peaceful separation or not.
Child Custody and Parenting Responsibilities
Undoubtedly, you have been together for a while and sired one or more kids with your spouse. Most of the divorces happening today do so while the children have not attained the age to be independent. Therefore, they cannot be left to fend for themselves. That is why child custody is the first issue that must be addressed as you part ways with your wife or husband. The case can be decided based on two types of custody – legal and physical. Physical custody mainly focuses on the daily life of the child or children.
In most cases, the judge will order you to follow a specific schedule, which has become more prevalent than ‘joint’ vs. ‘sole’ physical custody. This is where you deeply consider a co-parenting plan that you believe will be beneficial to your children. Legal custody focuses on the child’s education, religious life, and essential medical requirements. You and your partner will have to agree on sharing legal custody decisions. In some instances, sole legal custody is the best way to go, especially when considering your kids’ well-being.
Division Of The Assets
It is with no doubt you have created some wealth for the time you have been together with your ex, regardless of how short that could have been. According to the law, you must divide these properties during a divorce. This is one of the pretty technical issues and brought unbelievable disagreements between the divorcing parties. Besides the assets, any debts that you may have accumulated during your marriage years should also be divided equitably. Such debts may include credit card balances, medical bills, student loans, and second mortgages. On the side of assets, you can think of your marital residence, other real estate, motor vehicles, shares, and retirement accounts.
Most people confuse child support with custody, but they are different in several ways. Child support mainly leans on the side of financial commitments to your child (ren). You can agree upon a parenting schedule or follow the court’s order. There are three types of child support;
- Medical support – the medical bills and other out-of-pocket expenses are divided between the divorcees.
- Childcare – the child’s general care expenses are divided between the parties.
- Basic Support – one party sends money to the other for the child’s day-to-day upkeep.
This issue has faded with time, but there are some instances where you can face spousal maintenance or ‘alimony’ issues. This mostly happens when one party feels that they cannot pay their expenses, but the other party can contribute. In such a case, if you or your ex feels entitled to spousal maintenance, you need to create a budget with reasonable monthly expenses. The ‘step-down’ method is the most common for paying for spousal maintenance. This is where the amount paid decreases with time until it is not paid anymore. However, you may find yourself or your spouse entitled to permanent or long-term spousal maintenance.
Divorces are harsh and traumatizing, especially for the little ones who do not grasp what is happening. Going through separation means you have to address a few issues. Some of them are personal, but you should handle others legally.