Divorce: What It Can and Cannot Do for You
Normally, people contemplating divorce have some idea of what to expect from a divorce. They have witnessed divorces on television and in movies, and often personally know at least a handful of people who have been through a divorce. Increasingly, people have also experienced their own parents' divorce. In spite of this "second-hand" experience, facing your own divorce is one of the more frightening events in life. Not only do you face a court-sanctioned ending of possibly one of the more significant relationships you have ever had, you also must begin to think about such unpleasant things as the division of property and new living accommodations. In many cases, there is also the unhappy prospect of no longer seeing your children on a daily basis.
Predictability and divorce do not go together. But, armed with realistic expectations, you will have the best chance of being satisfied with the end result of your divorce. Consequently, it is wise to understand the realities of what a divorce can and cannot do for you.
What Divorce Can Do
Property Division. A divorce court will attempt to divide the property of a marriage in the most economic way possible. Most states will exclude from this division any property that was acquired prior to the marriage or that was acquired via gift or inheritance. In some states (community property states) this involves a 50/50 split of the property acquired by the parties during the marriage. Other states (non-community property states) will inquire into the couple's individual financial circumstances, financial plans for the future, and other relevant matters in attempting an equitable distribution of the property.
Because the division of property is never predictable, if you have a strong need for some item of property, it may be best to have your attorney negotiate and settle the property distribution ahead of time with your spouse's attorney. For example, you may decide that, although you would really like to stay in the family home, you really need to keep your business. Therefore, you might forgo the home in favor of the business. In this manner, you can attempt to strike a mutually satisfying agreement for dividing property with your spouse.
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