Divorce can be an emotional and complicated process, without the added stress of the convoluted court system. Whether you are considering a divorce or in the process of a divorce, below are 3 things you need to know about the process.
#1: “Fair” Division of Property
The courts view a divorce like dissolving a company. There are assets and there are debts that have to be divided. A fair and equitable division of these assets and debts does not necessarily mean a 50/50 split between you and your spouse.
Depending on your ability to earn income, your contribution to the homestead, and a variety of other factors, you may be entitled to more than 50% of the marital property. An attorney can assist in determining these factors, articulating them to the courts, and negotiating a settlement.
#2: Full Disclosure of Assets
As a party in the divorce, you are entitled to a full disclosure of all marital assets and debts. Both parties are required to submit a “financial affidavit,” in which each party lists all assets, including bank accounts, retirement accounts, life insurance accounts, and more.
An attorney can assess the available assets, the marital portion of those assets, and investigate the assets further in order to determine what you are entitled to in the divorce.
#3: Peaceful Resolutions Can Lower Unnecessary Costs of Litigation
The more parties fight in a divorce, the more the divorce can cost and the longer the process can take. You can lower costs by seeking a peaceful resolution.
The right attorney can assist in negotiating a settlement in your case, while still assisting in getting your voice heard in a courtroom, advocating for your best interests, and timely moving your case forward toward an amicable resolution.
Contact The Diggs Law Firm today and Get Your Voice Heard: 312-380-1070.
Written by: Erik B. Diggs