Sadly, not every married couple lives ‘happily ever after.’ Whilst it can be for various different reasons, many people end up getting divorced. This can be a difficult process emotionally, mentally, financially, and legally. In this article, we’ll discuss 6 of the most common legal difficulties divorcing couples face.
1. Restricted Stock Units
Restricted stock units (or RSUs) are a form of compensation that is awarded by employers. RSUs don’t actually grant shares until vesting has occurred, so employees are required to work for a certain amount of time before they can receive their compensation.
There can be circumstances where this process becomes more complicated. If someone has restricted stock units in a divorce any of the shares of company stock earned during the marriage will be deemed marital assets (to be divided in the separation agreement). Many people employ divorce lawyers to help them work through the division and to advise them how they would impact alimony and child support.
2. Property Division
The goal of the divorce will be for any property to be fairly divided between the two spouses. This process can be a complex one, especially if the couple has many assets (eg homes, furniture, bank accounts, vehicles (cars, boats), land).
This can be difficult to resolve, especially when there are disagreements about who gets what. Experienced family law attorneys can guide you through the process and ensure that your interests and rights are fully protected. Often, couples will need to go to court in order to have a judge settle the disputes.
3. Alimony (Or Spousal Support Payments)
They are periodic payments one spouse makes to the other after a divorce. These payments can either be paid monthly, quarterly, or annually. The purpose of this payment is to help the receiving party get back on their feet and become financially independent again.
Someone may be ordered by the court to help the lower-earning spouse maintain his or her standard of living after the divorce or to reimburse the other spouse for financial contributions made during the marriage.
4. Custody And Visitation Of Children
Child custody is about who will have the child/children living with them after the divorce. It will be their responsibility to raise the children, provide for them and protect them.
The who doesn’t have custody of their children is often granted visitation rights to see them. In most cases after divorce, parents are given joint custody. This means that both spouses will be involved in making decisions about the child’s future including healthcare, education, and religion.
Parents with shared custody must create schedules so that each one gets ample time with their children without disrupting school or other activities (eg sports teams or family vacations). The court will determine how much time each spouse should spend with their children. This will be based on what they believe is best for the kids while giving equal consideration to both parents’ desires and circumstances.
5. Child Support Payments
They are monthly payments made by one parent to the other to help cover the costs of raising a child. These payments typically go towards things like food, clothing, housing, and healthcare expenses. The amount of child support that is paid usually depends on factors like each parent’s income and custody arrangement.
Determining how much child support should be paid, and who should pay it, can be very complicated and emotive. In some cases, one spouse may try to avoid paying child support altogether.
6. Division Of Debts
Divorce not only changes the division of assets but also the division of debts. In order to ensure that each party is fairly compensated for their contribution to the marital estate, it’s important to have a clear understanding of who owes what.
Debt that was not incurred by both parties together may not need to be split up in divorce proceedings. However, any type of shared debt must be settled between the two parties before the finalization of the divorce can occur. Often, this can be resolved through negotiation between the couple. However, if an agreement can’t be reached, the court will make a determination based on state law.
These have been 6 common legal difficulties that divorcing couples face. Many major decisions need to be made during this time, and that’s why it’s invaluable for a divorce lawyer to become involved. They can be by your side advising you from start to finish, and ensuring the best possible outcome for your circumstances. Then you can move on with your life as you enter the ‘new normal.