If you are facing a divorce, there is a lot on the line. Not only are emotions running high, but your financial future and your parental rights are uncertain.
The best way to move forward through your divorce is to break it down into manageable parts and to work closely with an experienced Ohio divorce attorney throughout the process.
Your divorce will not be exactly like any other couple’s. Your divorce will, however, contain the same basic building blocks (as applicable) as every other divorce. These include:
Each of these that applies to your divorce will directly affect your financial future and your parental rights, which means they require close attention).
The property and assets that you and your spouse acquire during your years of marriage are considered marital property, which – in the event of divorce – is intended to be divided equitably. Equitably can mean equally, but a more accurate definition is fairly under the circumstances involved. Separate property, on the other hand, refers to the property each of you brought into your marriage with you and that you kept separate over the years. While separate property remains your separate property upon divorce, the dividing line between marital and separate property can blur more easily than you likely realize.
Ohio now refers to legal and physical custody as – respectively – the allocation of parental rights and responsibilities and parenting time, and both can be either sole or joint. The allocation of parental rights and responsibilities refers to who will be making important decisions on behalf of the children. Parenting time relates to the schedule you and your ex will each have with your children moving forward. Often, one parent becomes the primary custodial parent, and the other has a visitation schedule, but you can also split your time equally or nearly equally.
Both parents are financially responsible for supporting their children throughout their childhoods, and this responsibility is addressed by child support. Child support is calculated using state guidelines, and the parent with the visitation schedule generally pays child support to the primary custodial parent. If you split your time with the children equally, however, the higher earner will likely pay child support to the other parent – to help balance the support relative to each parent’s earnings.
Spousal support (previously known as alimony) is intended to help balance a financial inequality brought on by divorce. This means that if one spouse experiences a financial decline and the other has the financial ability to help, alimony can help bridge the financial gap.
If you’re facing a divorce, the accomplished Ohio divorce attorneys at The VanNoy Firm are committed to helping you better understand your options and skillfully advocating for your case’s best possible resolution. To learn more, please don’t hesitate to contact us today.
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