Going through a divorce or separation for the first time is not as simple as it seems.
Therefore, most people do not know where to start, so you should learn more about family law in general.
Still, the Internet features numerous misinformation that may confuse you in the long run, which is why you should understand each step along the way.
It is vital to check here to learn more about the divorce procedure.
In the further article, we wish to talk about important things you should remember regarding divorce and separation.
Table of Contents
1.Parents Have Responsibilities While Children Have Rights
In the eyes of the law, parents have responsibilities, while children have rights, which is an essential factor to remember. Therefore, parents do not have rights for children.
It means that parents will not have the right to equal time with children, no matter how much they support a child. At the same time, parents may agree on how much each of them will spend with the child, but the court will decide based on the child’s interests.
Therefore, you should start with things that are best for children and work backward. That way, you can formalize both parent plans and arrangements to ensure both of you are on the same page.
2.Divide Shared Property Pool
You should add all liabilities and assets in the shared property pool, and it does not matter whether you got them before or after the separation.
We are talking about things such as superannuation, trusts, interests in companies, and liabilities and assets you share with other parties.
Of course, it does not mean you should divide everything, but it is vital to remember that all assets you have can contribute to the pool’s value.
For instance, if you owe certain things, including loans and credit cards, you should add them as well. Therefore, you should create a comprehensive picture of your property bool, which will help you divide it.
At the same time, most separating couples think they should split everything jointly owned in half or 50/50. Even though it is an appropriate option and solution in some situations, the family law will create transparent principles on dividing properties based on needs and contributions.
Future and current requirements are essential aspects of determining the way you should divide liabilities and assets. The court will consider your age, health, and ability to earn in the future.
Besides, caring for children is also an essential factor that will determine the dividing process. For instance, if one partner is in the worst situation than the other, courts will compare the characteristics and create adjustments to balance both sides.
Of course, contributions can be financial, but they can come in other forms, such as renovating a household, caring for children, and many more.
The main goal is to make sure your liabilities and assets are fair for both sides, while each partner can revisit the decision in the future. Therefore, you should get professional legal advice by finding a divorce lawyer, which will provide you with a perspective on the case.
That way, you can reach a mutual understanding and agreement depending on family law regulations within your state.
Watch this video: https://www.youtube.com/watch?v=fF2om0HVTZI to learn everything about family law.
3.Financial Settlement and Divorcing are Two Different Things
Getting a divorce certificate and finalizing finances are two separate processes. If you wish to end the marriage formally, you should deal with the application. On the other hand, for completing the finances, you should create a binding financial agreement.
As soon as you get divorce papers, you will have one year or twelve months to handle a divorce process.
We recommend you handle financial settlement as fast as you can, which you should do by finding a proper attorney to help you out with the process.
4.Married and De Facto Couples Have the Same Rights
The same things work for de facto couples. You should talk with family law attorneys to help you understand the similarities and differences between de facto and married couples.
The separation law and divorce are the same when dividing your liabilities and assets and child support, which is an important consideration to remember.
Of course, they are different in some aspects, including how you formalize things, but both options must undergo the same process with the same outcomes.