From year long marriages to ones that have lasted 40 years, getting an attorney is always the best way to settle a divorce. Whether you have children in play or do not have any kids together, there are still many other areas where serious negotiation is an issue. What will happen to all your assets? Will someone end up paying alimony? Along with emotional distress, financial distress plays a huge role in a divorce. With your life, your finances, and even children’s futures at stake, it is crucial that divorces are handled professionally with the help of an attorney. Why You Need a Divorce Attorney?
Equitable distribution, also referred to as ED, has to been determined whether there are children involved or not. ED handles everything from debt acquired as a couple, debt acquired after separation, assets gained together, and assets gained after separation. This is called the identification process. It is the first step in distribution-identifying everything that is up for valid distribution during a divorce. Next a judge will further identify assets and debt as divisible, marital, or separate. An attorney will help you gather all this information and explain what each category ultimately means and why each debt and asset is being placed in its specific category. After everything is categorized, it will be marked with a net value. Net value is determined based on the current market value of assets while taking into account the amount of debt at hand. Distributed is then decided. One spouse may take on more debt but acquire more assets while the other may take on fewer assets and acquire less debt.
Post separation support and alimony is best solved with the help of an attorney for many reasons. For example, if you were the dependent spouse you may be entitled to PSS. PSS (post separation support) works the same way alimony does but it is only a temporary support. Typically PSS is established only until alimony terms are determined. Although alimony is often thought of as permanent, this is not actual. The dependent spouse receiving payment is only entitled to income based if living under certain circumstances. For example, alimony payments may stop if the dependent spouse remarries. Often times alimony is rewarded for half the amount of time that the couple was married.
Most couples need an attorney when filing for divorce. An attorney is in your best interest if you want fair distribution. They will help you compile any documents needed to help professional support your side of negotiations.