Divorce and finances

Divorce and finances

I am a big believer in marriage and have been happily married myself for 6 years to Mrs. Money Finance. It’s not always been easy, with lots and ups and downs along the way. Although I am not a fan of the idea of divorce (although I don’t know everyone’s unique situations), I am not naive to think that it doesn’t occur. Life will throw you interesting curveballs sometimes, and perhaps your in a relationship that you don’t need to be. While divorce is never something easy to do, money can often complicate it, regardless of how much you have (although more money might complicate it a little more). So, let’s think through a few scenarios if you find yourself going through a divorce and how you should approach it.

Considerations

For most individuals seeking advice regarding a divorce settlement, it’s hard to know where to start; who to ask for help and what they should be asking. In fact, this is the case for most legal disputes. I’d of course recommend turning to close friends or family for their advice. Experiencing a divorce settlement in itself is, of course, an extremely stressful time. Ensuring that you receive the best advice and go about obtaining it the easiest way possible will take a big weight off your shoulders and help you to cope through the process. 

The complexity of your case will obviously depend on an array of different factors. For instance, a common area of concern revolves around your business (if you own one). Business owners will want to protect their business assets and wealth, and this can be a lot more complicated than you may imagine. If you own a house(s), or have a large retirement account, you’ll want to divide it up carefully. The advice of an experienced legal professional is something which is certainly needed. 

Photo by Bill Oxford on Unsplash

If you have any issues regarding your divorce settlement then the first step should be to consult a legal expert like Bikel Law. They will answer all of your questions for you – even ones you did not know you had. Knowing that you are in safe hands is a relieving feeling and once you have had your first meeting with your legal advisor you will already feel much clearer about the situation and hopefully a lot more confident. 

It is also a good idea to seek advice from your legal expert when it comes to the next relationship you are involved with. Going through a divorce, it may be unlikely that this is on your mind, however, your advisor will be able to give you a helping hand in order to ensure the same thing does not happen again and that you are protected from any future issues. 

Getting the right help

Many individuals are unsure of what a family law lawyer actually does. Let’s face it; unless you have had the misfortune of needing one before, why would you know the specifics regarding their role?

First and foremost, it is essential to be aware of the responsibility of a lawyer in general before specifying to merely family law. Lawyers can do a whole number of things to help, both inside and outside of the courtroom. Hopefully it won’t come to a point where it needs a court with a judge in jury, but if it does, you’ll want a lawyer with experience in court. Lawyers will also provide clients with legal advice and give an opinion on what they should do regarding their case. In general they tend to specify in a certain area of law, for instance criminal law and commercial law. 

As I am sure you have presumed, a family law lawyer deals with issues regarding family law. They tend to represent one of the following; a parent, a child or the local authority. In basic terms they deal with anything which may affect a family, with a common example being divorce. A divorce may lead to disagreements in an array of areas which can only be solved in the courtroom, for instance; child custody, maintenance support and visitation rights.

Many individuals often make the mistake of thinking that divorce is the only area of expertise a family law lawyer provides legal aid for. This is certainly not the case. Their job encompasses an array of areas, for example, they regularly deal with paternity cases. This is when the parents of a child are not married and legal action is required to determine the rights of the biological father. As well as this, a family law lawyer will deal with cases of harassment and domestic violence. There are also issues regarding step parents wanting to adopt their partner’s child. In addition to this, there are cases in which a guardian is required to look after someone who is not able to take care of themselves or their children, this could be for an array of reasons; they could be terminally ill or financially incompetent.

If you are dealing with a family issue (I hope you won’t!) which is being taken to court level then seeking a lawyer with experience in family law is essential. As stated, their job entails a vast range of areas, however if you are still unsure as to whether your case falls under family law then simply contact a family law firm – they will be able to tell you if they can help, and if not they will certainly point you in the right direction. 

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