When differences between two spouses cannot be reconciled, divorce is inevitable. Unfortunately, this can be emotionally challenging no matter how long or short of a time a couple has been married. It can also be financially difficult.
Family functions have changed over the years. In many modern households, both spouses work full time -- an arrangement unheard of not so many years ago. In such a situation, each partner likely contributes fairly equally to the marital assets from a financial point of view. Should the couple divorce, dividing the assets may be reasonably straightforward, though likely not without some conflict.
If you have children and you're from Raleigh, you've probably been to Frankie's Fun Park a time or two. If not Frankie's, then perhaps you've enjoyed outings to some of the other popular theme parks throughout North Carolina. Spending recreational time together as a family is adventurous, and helps stitch memories that become the patchwork of your lives.
Undoubtedly, the divorce process is stressful for all parties involved. Not only are you ending a marriage that you likely believed would last forever, but you're also having to deal with the financial consequences of the dissolution of marriage. Since divorce can have lasting consequences when it comes to your finances, it is vital that you make wise decisions. Chances are, you and your soon-to-be ex-spouse have different ideas in terms of how the financial assets should be split. Here a few tips that should help you protect your finances during a divorce.
When couples divorce in North California, the court can award alimony to one of the spouses. Before awarding alimony, the court must consider an extensive number of factors to ensure both parties are treated as fairly as possible. The alimony award, also referred to as spousal support, can vary in duration and amount. If you plan on getting divorced, here is some information about alimony awards in North Carolina.
Although most marriages begin with the best intentions, sometimes separation and divorce becomes necessary in order to assure that both spouses can continue to leave a fulfilled life. However, when each person has gotten used to living within certain financial parameters of the marriage, it can be hard from an economical standpoint to break free from the marriage. Normally, spouses do not wish to sacrifice their standard of living, and in most cases, existing financial obligations would make it hard to do. This is one of the reasons why North Carolina courts make a practice of awarding alimony, aka spousal support.
Divorce is a very difficult emotional process for most. However, it is also financially challenging. When a marriage has ended, it often means attempting to maintain the same standard of living that existed during the marriage. However, this time, it is on only one income instead of two. Because of this fact, financial worries are an inherent part of the process. It is not surprising that many couples are left with no choice but to file bankruptcy.
Nowadays, people are divorcing later in life more than they did in the past. Although the overall divorce rate has held steady in the last 10 years, the number of divorces for couples that are over 50 has increased. Now, about one-quarter of divorces involve people in this age group.
When you think of divorce, you may think of a long drawn out battle over child custody, alimony and other issues. Although this type of divorce certainly exists, not every divorce has to be this way. With some advice from your attorney, as well as cooperation from your spouse, you can end your marriage rather peacefully, quickly and amicably through divorce mediation.
If you are planning to file for divorce, you may think that no preparation is necessary. However, like many other things in life, it is beneficial in divorce to have a plan before you act. Taking the proper steps before you enter the divorce process can make the process go more smoothly and increase the likelihood that things will go your way.