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Coral Springs Divorce Law Blog

The fate of the marital home is a huge divorce consideration

A marital home is the most valuable asset that most married couples own. When the couple divorces, they have to determine what to do with the home. This can be a problematic issue because of the desire of both parties to keep the home.

Here are some points to consider when you are trying to decide what to do about the house:

  • Keeping the home might be costlier than you realize. Remember that you have only one income now, so payments that were easy before might not be now. On top of the mortgage, you also have insurance, taxes and upkeep costs.
  • Selling the home might mean that you are responsible for a capital gains tax. This is only going to apply to some homeowners, so find out if it applies to your case before you make any decisions about whether or not to sell the house.
  • You can use other assets to balance the property division agreement. Since the home usually has a higher value than other assets, the person with the house might end up with a larger share of the debts to balance out the fact that the other person doesn't have as many assets.
  • Think about the children when you are deciding what to do with the marital home. In some cases, the custodial parent will keep the home and continue to rear the kids there. There can also be an agreement about what will happen to the home after the children move out.

Child custody over the holidays might require some changes

The weather is starting to get a bit cooler, which means that the winter holiday season is just around the corner. Now is the time that parents need to take a look at child custody agreements to determine whether the plan for parenting time will work during this period. There are a few special considerations that come with the winter holidays.

First, check to see who has the children on which days this year. Some custody schedules change annually, but others remain in place year after year. Writing down when your child will be with you might help you to make plans for the season.

Address stress from divorce that impacts your children

Divorce can make even the most peaceful person stressed. There is also a chance that your stress is going to transfer to your children. This isn't an ideal situation since stress can impact every aspect of the child's life. You should be aware of signs of stress in your children and be prepared to address them.

Many of the signs of stress vary based on the child's age and maturity level. Some older children might complain of head or stomach pain. They may have trouble concentrating — which can impact schoolwork — or feel lonely. Younger children might become clingy, have trouble sleeping, cry often or wet the bed.

Asset and debt division is often complex

Asset division in a divorce is a challenge for people who have amassed a large asset portfolio. The difficulties that come with this are often greater when you have multiple types of assets. Oftentimes, these cases will take a while to work through because of the valuation process. We know this can seem like a nightmare when you are ready for the marriage to be over.

When you are dividing assets, you have to think about what they are actually worth to you and how they help you or harm you in the future. Don't think only about how they will impact your life now. You have to think about what might happen in the future. The long-term cost of various assets is important, especially when you are considering real estate. These can have a big impact on whether they benefit you or not.

Uninsured medical expenses can be challenging matters

Child support payments cover many of the normal expenses involved in raising a child. Any parent who receives these payments can tell you that there are many costs of raising a child that aren't covered by child support. One area that can be particularly troublesome is medical care.

Oftentimes, one parent has to include the child on their health insurance. This covers some of the costs of getting the child medical care. However, there are still some other expenses that will come with getting this care. Co-pays, deductibles and uninsured medical costs are some of the ones that have to be paid out of pocket.

Have the right mindset during child custody matters

Once you and your ex determined that you were dissolving your marriage, you also made the decision to raise your children in two different homes. This is a difficult situation for the children because everything they've known is changing. It is also challenging for you because you have to figure out how to navigate the new situation while you are also helping the children to adjust to the new way of life.

Many things can impact how you and your children fare during this time. One of these is how you approach the child custody matters. You shouldn't approach anything as a "me versus the ex" mindset. Having an all or nothing mindset can work against you.

Alimony can repay you for your marital sacrifices

Getting a routine down after a divorce can be challenging. One thing that you might find takes on a new level of importance is becoming financially stable. If you spent your married years caring for the house or the children, you might realize that it is going to be hard to enter the workforce again.

For some individuals in this position, alimony provides a temporary solution to the problem. One form of spousal support is based on the need for the recipient spouse to try to find ways to earn a living. Rehabilitative alimony is a short-term arrangement in which the paying spouse supports the recipient spouse while the person receiving the money attends classes or goes through training to do a job.

These signs signal a healthy parenting relationship

A healthy co-parenting relationship is a good thing to have after a divorce. Even when things are difficult between you and your ex, having this type of situation going on for the child custody matter can be beneficial for the children. There are a few signs that you can look for to find out if the situation is heading in the right direction.

One of the most important signs is that you and your ex handle the important adult matters. You can't count on the children to pass messages back and forth. They shouldn't be brought into arguments or disagreements. Instead, they should be able enjoy being a child and relish in the security that comes from two parents who are working together.

Property division can be a complex matter

One of the difficult aspects of divorcing is having to go through the property division process. Not only do you have to find and account for all assets, you must do the same for debts. Once you know what must be divided, you need to figure out the arrangement. This is often done through a collaborative process.

As you are going through the mediation process, make sure that you are thinking logically about what you are doing. It is easy to become focused on what your emotions are telling you that you need to do. The problem with this is that what is right for your emotions might not be good for your finances. Thinking logically will allow you to weigh all of your options and determine how they might affect your life.

Find out how divorce will impact your financial stability

It is easy to think of divorce as a bad thing because it is the end of your relationship. What many people don't realize is that you can turn this end into a good beginning. One important thing for you to do is to ensure that you are financially ready for your new life. Climbing out of a financial slump might not be as easy as you might want it to be, but it will be worth the effort in the future.

One of the most important things to do right now is to take an honest look at your situation, even if you are ending a marriage in which you were financially comfortable. There is a good chance that there will be at least a little tightening of the purse strings with the divorce since you are likely losing one income. You need to set a budget based on what you earn so that you know what you can afford.