- When dividing assets and liabilities, the courts often begin with an accounting and confirmation of all real estate, accounts, retirement assets, investments, Â stock options, inheritances, Â gifts, Â debts, Â personal property, vehicles, and all other possessions.
- The courts have to differentiate between marital property that was created or acquired during the marriage and non-marital property that should stay with one party. Â Non- marital property may include assets from before marriage, Â gifts or inheritances, and student loans.
- Non-marital property stays with the receiving party. Â Marital property is divided equitably. This is often interpreted as equally, Â although there are some exceptions if the outcome is deemed unfair.
- Division of property is a separate question from cash flow (child support and spousal maintenance).
- Child support in court is often calculated with the guidelines based on percentage of overnights with each parent and incomes. Â Then medical expenses and extra curricular activities are shared by percentage of income.
- Spousal maintenance or alimony is a discretionary area of the law. It is based on the needs of the recipient and the ability of the other spouse to provide support.
- Court requires an analysis of budgets and income or potential income of both parties. Â It can be difficult to address income if a party has not or is not working.
- Some of the factors for determining support include: length of the marriage, education and age of the spouses with regard to work ability, work history, parenting needs of children, and reasonableness of expenses.
- Because spousal maintenance is one of the most discretionary areas of family law, Â it is difficult to find consistent outcomes in the court as every case is decided based on the individual facts (and judge).
Two Paths, One Decision: The Divorce Dilemma
Emily and Daniel were in love. Their love story had once been the envy of the neighborhood—a whirlwind romance that blossomed into a marriage filled with laughter, shared dreams, and whispered secrets. But as the years went by, cracks appeared in their fairy tale....