Technical Issues and Processes of Going through a Divorce: Burdens and potential pitfalls to be aware of and what action you should take.
Going through a divorce is never going to be anything but an exceptionally difficult experience. Knowing some of the technical issues and processes, however, can at least ease some of the burdens and help you avoid any pitfalls along the way. Read on below for a list of the things to be aware of and what action you can take now to help.
Sharing Business Interests With Your Spouse
If you and your spouse share a stake or interest in a business, then this can complicate divorce proceedings. To prepare for the processes around this and try to ensure a smoother transition, get a current valuation of the business; it should be one that can also forecast likely future worth.
Once this is done, there will be three options. You and your spouse can sell the business and split the assets; one of you could buy out the other; finally, you could continue to act in partnership as far as the business is concerned.
Be Aware of State Differences
One thing that is vital to be aware of is that individual states will have different processes when it comes to divorce cases. For example, in California, an expedited divorce can be sought by those couples who have no children, have been married less than five years, and have few assets or debts (as well as satisfying a number of other requirements), while in Montana, a divorce can be filed for without needing to wait for a standard cooling-off period. Continue reading here to learn more about the different divorce requirements in various states. New Mexico ranks as the best state in which to seek a divorce: the filing and attorney fees here are comparatively low, and it has one of the shortest waiting periods before a judge signs off on a divorce.
Issues Where There Are Children
Childcare and custody are likely to be the key areas where divorce can be particularly difficult, and getting support to help you navigate the divorce process is vital. Additional hearings and negotiations may be necessary for spouses to reach an agreement on these issues, which are likely to be extremely emotive.
Getting anything – even if it is a relatively small issue – agreed with your spouse before proceedings begin is a good idea although there are some cases in which having such a discussion is untenable.
If you and your spouse have children, then the issue of grandparents’ rights could come up as a part of your divorce filing. Not all states formally recognize this, but Illinois is an example of a state that will, on occasion, uphold the rights of grandparents in a divorce case. These rights typically revolve around visitation, as well as allowing grandparents to have some degree of influence in the raising of the child or children.
A grandparent may go to court to assert these rights; in most cases, the court will be allowed to decide on a case-by-case basis the extent to which the claimant’s desire may be granted – if at all. If this issue comes up, it is usually a good idea to seek an attorney experienced in family law to assist you.
If you live in Iowa, a no-fault state, when it comes to filing for divorce, the process can be much more complicated if you or your spouse suffer from a mental illness. For example, although you may be able to obtain a divorce from a mentally ill partner, you may be required to continue providing financial support with regards to this issue, even after the divorce, for a length of time determined by the court. However, if you can prove that making these payments would result in financial hardship, then you may be able to appeal against them.
Divorces can be significantly complicated by the existence of speculative or complex assets in the case. For example, valuing shares in a company is notoriously difficult and is further complicated if that business belongs to the other spouse. However, there is a possibility, at least, that they could be worth an inordinate amount in the near future. So deciding on the potential worth of a share versus its up-to-the-minute value in cold hard cash is difficult. Further, litigation can follow down the line if a divorcing spouse has been convinced to part with their shares for their face value…only to discover, a year later, that the value of these same shares has increased stratospherically.
Where present, marital misconduct can complicate divorce proceedings. Alleged drug abuse or domestic violence by one partner, for example, if upheld, will often mean that the other partner is treated more favorably by the courts in terms of alimony, property division, several and child custody.
In some states, a spouse can also allege marital misconduct in cases where it can be proved that the other person’s behavior or activities resulted in the loss of marital funds; if a court finds in the alleger’s favor, then the split of assets will be made to reflect this to act as compensation.