Many people go through a painful divorce or mutual separation for the first time, which is why it is agreeable for them to not know much about the process. However, it is shocking to know that many people know absolutely nothing about a divorce process when they decide to walk through it. It is best to patch up and move on with your life if there’s nothing serious in your relationship. However, if nothing has worked out, it is okay to move on and think positively. In this blog, we will sift you through 5 things about the family law and your divorce.
Check out the fours things
1. Children Have Rights
Unfortunately, parents aren’t entitled to any rights when children are included in the process. Keep in mind, having no children and filing for a divorce is the complete opposite for when you have the little ones involved. In simple words, parents have responsibilities, which they must fulfill when a divorce takes place. So no matter what you pay to the child support, you and your spouse will no longer have the opportunity of spending plenty of time with the kids. However, if parents believe it is imperative to spend some time together with the kids, the court can agree to give the order for spending quality time as a family. So if you have decided to file the divorce, it is crucial for you to talk with your spouse for the best interest of the kids.
2. Property isn’t Always Divided in a 50/50 Ratio
Contrary to what you’ve read and heard everywhere, the property is often not divided in half. However, most couples will agree that they should get an equal distribution of wealth and property after parting ways. When it comes to family law, the distribution of wealth is calculated according to the contribution made by each partner and their income spent. This will also be inclusive of the repairs made by the partners through their respective income when they were living together. Secondly, future needs are also taken into consideration when the division of assets takes place. For example, if you are claiming the responsibility of children, more than half of the wealth will be given to you.
3. Super is Also Included in the Property Pool
When it comes to the distribution of wealth and property, the family law includes all the assets and liabilities. This means, regardless of what happened when you both were together, or after you people got separated, everything will be included. This will be inclusive of trusts, interests in different companies, assets, shared liabilities, and superannuation. However, this doesn’t imply that everything will be divided in half. Even the current loans and credit cards will be brought into the episode so that the overall picture can be viewed. If you are worried about not having enough information about this situation, you can contact a veteran family lawyer. They will help you in the best possible way according to their skills and expertise.
4. Financial Settlement is Different Than Divorce
In simple words, getting divorced and dividing the finances are two different things. When it comes to financial settlement, you will need the consent orders from the court. On the other hand, when it comes to a divorce case, you need to file the application to get rid of your spouse and finish the marital contract. Intriguingly. After a divorce, you have 12 months to settle for the finances. If you are on friendly terms with your former spouse, it is best to talk about the financial settlement right now. This way, you both will not engage in a heated argument post the divorce.