Marriage is a legal contract. When a couple decides they no longer want to be married, they can’t just move out of the home they shared and start living separate lives. They have to go to court to end the contract. If they don’t, each spouse could be responsible for the others’ debts and assets may not be divided equitably. Although the process of getting divorced may not be pleasant, it’s necessary for Kentucky spouses to take this step in order to move forward with their lives.
Sometimes people delay getting divorced because they don’t want to fight over marital property. One way to avoid this is for each spouse to clarify what they really need and want. If they know what the other spouse wants and why, it could be easier for an attorney to negotiate a settlement they’ll both agree with. Filing for divorce could put spousal and child support orders in place.
In order to be sure what’s at stake, a divorcing spouse needs to know what they own. An effective way to get a clear picture of assets and liabilities is to collect financial documents such as tax returns, mortgage statements, quarterly statements from 401(k) or IRA administrators and 1099s. An attorney may be able to help a client gather information about hidden assets and debts. The numbers from these documents are necessary to properly complete the financial affidavit.
An experienced legal team might be able to help a divorcing client decide how they would like to proceed with their case. Whether a person chooses mediation, collaborative or traditional divorce, an attorney may help them negotiate the terms of their settlement. The type of divorce could have an effect on the overall legal fees and the amount of money the couple have to divide but this decision shouldn’t be based strictly on costs. There are pros and cons to each option that an attorney may discuss with a client at their initial consultation.