It is not uncommon for many individuals to be fearful and uneasy when going through a divorce, specifically when it comes to financial security. This is particularly true, if you are a spouse who remained at home full-time to care for the children and the household. In fact, if you are a financially dependent spouse, you may not even consider divorce due to the financial uncertainties. The fear of losing marital income to take care of yourself and your children is extremely difficult.
If you are considering divorce and feeling anxious about your financial circumstances, the first thing you should do is contact an experienced family law attorney to schedule a consultation. During the meeting, the Director of Client Services will gather facts about you and your spouse, so that he can help guide you on your basic legal rights. He will provide information on financial remedies that may be available to you including, child support, alimony or spousal support and division of marital property.
Child support, as you may already know, are funds paid monthly by the non-custodial parent to help pay for raising and providing for the couple’s minor children. Child support is determined by the court and follows a structured formula.
Spousal support or alimony is financial relief paid to a non-wage-earning or lower-wage-earning spouse. Spousal support can be awarded on a short-term basis while the dependent spouse receives education or training for a new job, improves their career prospects or otherwise become self-sufficient. Depending on the length of your marriage, you may also be able to receive alimony on a long-term basis.
Finally, the division of marital property refers to the distribution of assets you and your spouse accumulated during the marriage, such as real estate, investments, retirement and business interests. Your family law attorney will also advise you, on other benefits that you may be entitled to from, your marriage.
Aside from the above forms of financial relief during/after divorce, you should also discuss alternatives to litigating with your lawyer. Litigation can quickly become expensive; and often times, you and your spouse will be responsible for paying your own court costs and attorney’s fees. Other options, such as mediation, negotiation and collaboration, are much less expensive and provide a less contentious approach. These options will save you money before and during your divorce.
Rather than becoming paralyzed by fear or refraining from ending a bad marriage due to financial insecurities, you should meet with a knowledgeable family law attorney. By obtaining information on your rights under the law and evaluating different options for obtaining a divorce, you can feel more secure about your financial situation before, during and after a divorce.
If you are considering divorce and unsure about the financial consequences, you should consult with a qualified family law attorney like those at the DiPietro Family Law Group. The family lawyers of the DiPietro Family Law Group have decades of experience handling all types of divorces and other family law issues in jurisdictions across Northern Virginia and Washington, DC. Contact us today for a consultation at (888) 530-4374.