January is usually the busiest month of the year for relationship counsellors and divorce lawyers in Australia.
It’s ironic that after spending Christmas with the entire family and having the entire holiday period to think about resolutions, it seems that many Australian couples decide to break up early in the year.
For many, a divorce during this time becomes so difficult to deal with that they forget about the important practicalities. Who moves out? How much do you get? Who gets custody of the kids?
Need answers? Read on.
“What Should I Do First?”
Make sure your ducks are in order and understand your family’s finances first. Lay it all down: how much you earn, what your assets are, and how much debt is associated with those assets.
Get the help of a financial adviser specialising in divorce—these professionals can predict your cash flow moving forward so that you know how much you need to cover settlement expenses. More importantly, these people will help you understand what you are entitled to. Get an experienced lawyer as well; some family law attorneys, like those at Rapid Legal Solutions, will work with your adviser to determine an equitable split.
“Who Gets What?”
How you split the pie depends on a number of factors, and one of them is the length of the relationship. A long-term marriage (more than ten years), for example, trumps a quickie marriage when dividing the pie. Other factors include dependent children, who contributed financially during the marriage, which assets were brought into the marriage, and so on.
“What About the Children?”
Some divorce cases see spouses try to use the children as pawns in the negotiation game. Don’t think this happens much? Think again.
In a study by The Australian Psychological Society, about 50,000 children experience the effects of separation every year. If you do not want your children to suffer the same fate, do not let your soon-to-be ex use them during the divorce process.
Know everything there is to know about divorce, including marital assets and child support. When you do, you will not be as powerless as you may feel.