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Jan 31, 2020
What Does a Divorce Settlement Include
Anybody who’s going through a divorce has several questions: how will my life change? Will I be okay? What does a divorce settlement include? The concerns are endless. We understand your concerns and we’re going to help you understand the divorce settlement. Continue reading to learn more.
Assets and debts
The divorce settlement gets into one area that causes a lot of arguments and fights—the division of assets and debts. With the help of documents and timelines, your attorney will do their best to get you what you deserve. In general, assets and debts that an individual occurred—and incurred—before the marriage remain with that individual, though there can be some exceptions.
Alimony
Your divorce settlement will also include the amount and duration of alimony payments. There are some scenarios where you may not receive alimony, but in most cases, alimony is involved one way or another. You’ll likely receive alimony if you’re unemployed, underemployed, or if your spouse made the primary income—though your attorney will help you identify your eligibility.
Child support
If children are in the middle of a divorce, there’s another important financial factor you can expect on a divorce settlement—child support. Many factors that courts use to decide alimony are applied to child support. For instance, if you weren’t the primary source of income, but you’re getting the kids, you’ll probably get more child support.
Custody and visitation
Lastly, when children are involved, your divorce settlement will include the details around custody and visitation. Depending on the reason for the divorce, you and your spouse may be comfortable with joint custody, which is the best-case scenario. However, we understand that’s not the reality for every divorce. If you want to fight for sole custody, you’ll have to negotiate visitation availability, holidays, and so on.
If you’re in the middle of a divorce, it’s best to avoid surprises as much as possible. Doing your fair share of research will help you know what to expect in the process and plan accordingly. Through your research, you’ll develop a general understanding of your options and you’ll know details like what a divorce settlement includes.
At SDF Law, we understand how challenging divorce is—that’s why we take our clients’ stories seriously. We work on your behalf with integrity, patience, and expertise. If you’re looking for a family law attorney in Illinois, contact us today.
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