The Factors in a Divorce Settlement

By: amnorge | Posted: 11th January 2011

Divorce can be a stressful process with many issues needing to be resolved. Of course, some are more complex than other. If the couple have children together and own property the process of deciding who is entitled to what can be long and drawn out, whereas without these complications things are much simpler.

In terms of children and possessions there may be things that can be agreed upon by the couple. For example they might decide it suits both of them, and the children, if the children primarily live with a particular parent. But there are many potential stumbling blocks and there can be many disagreements as to who should be entitled to what. Below are some things that may need to be decided upon during a divorce settlement.

Children

This is obviously the area that can be most emotional. The most important thing is where children will live; will they primarily live with their Mother or Father, or will they live with each parent a little each? Assuming they will live with one parent most of the time then decisions need to be made as to the visitation right of the other parent. There are situations where visitation is deemed inappropriate and one parent is not allowed to see their children, but this is only in extreme situations, for example where abuse is involved.

It is not just who the children physically live with that needs to be decided in a divorce settlement but also how decisions regarding children are made. Although custody may not be split, decision making might be. This will mean that the parent who the children don’t live with will have to be consulted when making decisions regarding medical issues, where they go to school, and which religion they are bought up in.

Then there is money to be taken care of regarding children. One parent might have to make child maintenance payments to the parent who the children live with. If one parent earns more than the other, then this is the likely outcome.

Real Estate and Other Property

The area of real estate can become an important issue during a divorce settlement. If it goes to court it is usual for it to be ruled that real estate is equally owned, especially if bought while the couple were married. This may mean having to sell the property and divide the money made from the sale or one person buying the other out, something that is not an option for many. There are similar decisions to be made regarding other property, possibly with similar outcomes, although due to the monetary value of a home, housing is often the most complicated issue.

Alimony

Alimony is where one spouse must make payments to the other to help support them. This may be a monthly payment or a one off payment after the divorce settlement. The amount of alimony that is paid can vary vastly, from £20 a week to a one-off payment of £40 million, for example. This will largely come down to the earnings of the two members of the former couple as well as their personal situations. If one works and the other does not then the worker is likely to have to pay the non-worker. If one parent gave up work to look after the couples’ children, then they are likely to receive alimony from their former spouse.

Beatrice Sareen (c)

Beatrice Sareen Divorce Settlement.
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Tags: money, real estate, possessions, religion, making decisions, disagreements, decision making, medical issues, extreme situations, divorce settlement