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Annapolis Family Law Blog

How will divorce affect your finances?

As you move through the divorce process, it is only natural to realize that your financial situation will be changing in the near future.

For example, this means that you'll only have one income. It also means that you will only be responsible for caring for yourself (and any children you have).

What do you know about sole custody?

Are you going through a divorce? Do you have at least one child with your soon-to-be ex-spouse? If so, you probably know a thing or two about sole custody and joint custody.

Although you may have heard these terms in the past, it doesn't mean that you understand the finer details associated with each one.

Child custody and visitation: Many factors are considered

When it comes to matters of child custody and visitation, the court takes many factors into consideration.

To start, the court will always focus on the best interest of the child. With this in mind, some of the factors used to determine child custody and visitation schedules include:

The division of retirement assets can be complicated

Are you faced with the divorce process? If so, you know that matters of property division will require your full attention in the near future.

Generally speaking, the family home is the largest asset that a couple owns together. However, there is something else that can be just as large: retirement assets. This includes but is not limited to the following:

Don’t overlook the future value of a prenuptial agreement

Are you closing in on your wedding day? Are you looking forward to spending the rest of your life with your soon to be husband or wife?

As excited as you may be, now's the time to think about the potential of something going wrong in the future. For example, you could be faced with the divorce process at some point down the road. While you hope this doesn't happen, you never know what the future holds. For this reason, you should never overlook the future value of a prenuptial agreement.

Follow these tips to get a child support modification

Are you required to pay child support? Have you been good about making on time payments in full every month?

If so, you hope that this will continue well into the future. However, you know that something could happen that could change your approach. For example, you may run into financial difficulties that make it a challenge to stay on track in the future.

There is great value in divorce mediation

If the time has come to file for divorce, you know that there are many key steps you need to take in the days, weeks and months to come. Like most, you want to put the divorce process in the past as quickly as possible.

While there are times when you have no choice but to meet your former partner in court, there's nothing wrong with considering the benefits of divorce mediation. In fact, many have found that this is the best way to work out their problems in a more affordable and time efficient manner.

Are there things to try before divorce?

At some point, you may realize that your marriage is in trouble. If you find yourself in this position, you have a couple of options.

First off, you can decide to move forward with divorce. You may realize that this is the easy thing to do, especially if you've done your best in the past to make things better.

How can women financially prepare for divorce?

Women and men alike face a variety of challenges as they prepare for the divorce process. As a woman in this position, it's imperative to look toward the future. This is the only way to ensure that you're making the right decisions in regards to your finances.

Here are some of the top tips to follow as a woman faced with the divorce process:

A shared parenting plan should focus on all the right details

If you're going through divorce, if you and your soon-to-be ex-spouse wants to do what's best for your child, it's time to consider the benefits of a shared parenting plan.

While there are sure to be times when you disagree on certain aspects of raising your child, a shared parenting plan can provide an outline that keeps both parents on the same page as the years go by.

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