what is fair to ask for in a divorce
In that location tin exist a huge divergence between an equitable divorce settlement and a fair divorce settlement.
In the hope of helping those who are in the nighttime well-nigh what is and isn't a fair divorce settlement, hither is a drove of examples of unlike scenarios and what we believe to be off-white divorce settlements.
Nosotros must caution you though that every instance is different. The examples below are not accented examples of what yous should expect from a divorce settlement. It is withal what we feel is off-white when taking into consideration the short-term and long-term needs of those going through the divorce procedure.
6 Examples of Fair Divorce Settlements:
1. Ken and January
Marital Profile:Ken and January have been married for five years and have no children. They both entered into the wedlock with established careers, earning similar salaries.
Divorce Settlement:The marital avails are split fifty/fifty between the spouses. There is no spousal support or child support.
Both Ken and Jan are basically in the same position financially at the end of their marriage that they were before the marriage. Neither has given up their career or lost any income potential during the marriage.
With the advent of no-fault divorce laws, the courts volition non accept into consideration any bad behavior by either party unless one or the other has caused severe financial distress by spending liquid marital assets. That is non the example in this divorce scenario. It but makes sense that avails be split 50/fifty and both spouses move on and rebuild their lives.
2. Joseph and Karen
Marital Contour:Joseph and Karen have been married for 14 years and have no children. Their matrimony is a medium-term marriage where spousal support and an unequal division of marital holding may be considered.
Divorce Settlement:The marital assets are carve up lx/40 in Karen's favor.
There is no spousal support or child support.
Joseph and Karen both take high-paying careers. Joseph makes more than Karen though and has greater earning potential in coming years. Due to the fact that Joseph's standard of living will continue to increase and Karen's volition stagnate, the approximate awards her a higher percentage of the marital assets to offset the loss of benefits Karen enjoyed during the spousal relationship.
3. Mark and Joan
Marital Profile:Mark and Joan have been married for 26 years and have no children. Both earn high salaries in well-established careers. Joan earns 1/3 more than Mark which makes her the higher earning spouse.
Divorce Settlement:The marital assets are split 50/50 and Joan is ordered to pay Marker rehabilitative spousal support for a term of five years. The long-term marriage established a lifestyle that both Marking and Joan had become accustomed to.
Mark'southward standard of living will decrease once at that place is a divorce due to the fact that he makes less than Joan. The 2 went to mediation and Joan chose to pay temporary spousal back up that is deductible at revenue enhancement time rather than splitting assets in John'southward favor.
4. Jim and Claire
Marital Profile:Jim and Claire accept been married for viii years and have two children under the age of six.
Claire is a stay-at-domicile mom who has not worked for six years. Jim has a manufacturing job and earns $52,000 a yr.
Divorce Settlement:Jim and Claire will share joint legal custody with residential custody awarded to Claire. Jim pays kid support co-ordinate to state guidelines which are based on the income shares method.
They agree to split 50/l whatsoever expense of sending their children to college and all extracurricular activities while the children are still in primary school. There is a 60/40 segmentation of marital assets in Claire's favor and she is awarded short-term, rehabilitative spousal support for 2 years.
Claire will exist attending a training program and agreed to be fully employed inside a two-year menstruum. At that time child back up will be recalculated and lowered due to the increase in Claire's income and spousal support volition end.
five. Bill and Grace
Marital Profile:Pecker and Grace have been married for xvi years with two teenage children. Grace has been a stay-at-home mom for fourteen years; Nib has an executive position and earns a six-figure salary.
Divorce Settlement:Grace is awarded the marital home and all equity in the habitation. The equity in the home is deducted from other marital assets and in that location is a 50/l deduction of the rest between both spouses.
Grace is awarded spousal support for a length of 10 years. She is awarded half of Bill's retirement benefits and since she volition retain custody of the children is awarded child back up according to land guidelines.
Grace wanted the marital domicile because the equity in the abode is more than than she could have gotten if there has been a basic 50/50 split in marital assets. She also wanted to remain in the home her children had grown up in until they graduated from loftier school. Since the home will appreciate in value Grace has an asset that she can one mean solar day liquidate.
Bill had no interest in the marital home. He was more interested in the assets that could exist liquidated immediately should the need arise. They both agreed that Pecker would continue to pay into their children's college savings funds.
When negotiating a divorce settlement information technology's imperative that you understand that "equal" doesn't mean a fifty/50 dissever. Equal means what is off-white to both parties involved. You lot won't get everything y'all believe you lot are entitled to and, you will need to exist able to compromise for the sake of all involved.
vi. Lance and Katy
Marital Profile:Lance and Katy have been married for eleven years and have a small kid. Katy is the CEO of a non-turn a profit arrangement, she earns a substantial salary. During her career, Katy has done extensive traveling which fabricated information technology necessary for Lance to quit his job and become a stay-at-home dad.
Divorce Settlement:Lance and Katy will share joint, legal custody with residential custody going to Lance. Lance was awarded the marital home and all equity in the home.
He was likewise awarded spousal support for a catamenia of five years and child back up based on land kid support guidelines.
Katy fought for custody and against spousal support. Lance was able to give evidence during divorce court that showed Katy had little interest in her children and would not exist able to care for them due to her piece of work/travel schedule.
The marital assets were split 60/40 in Lance's favor because the judge felt that Lance, beingness the lower income earner and caretaker of their children should go along to alive the standard of living he and his children had become accustomed to.
Lance will have the opportunity to keep in his role equally a full-fourth dimension father, rebuild his own career and one day earn an income equal to or greater than that of Katy. Until and so Katy is responsible for taking intendance of the people she left behind.
There tin can exist a huge difference between an equitable divorce settlement and a fair divorce settlement. When negotiating your divorce settlement the outcome is based on many factors. The courts will take into consideration standard of living and the long-term needs of a spouse if you lot, the one going through the divorce demands your divorce attorney fight for what is "fair."
Source: https://divorcedmoms.com/divorce-settlement-what-is-and-isnt-fair
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