Divorce is different for every couple. An uncontested divorce involves both parties agreeing on divorce issues like property division and child custody. However, the many divorces are not this simple. Contested divorces are more difficult. The spouses do not agree on how to resolve divorce issues and the divorce may including complications such as custody disputes, high-value assets, and business ownership. In general, here are some concerns to look for that make your divorce far more complex.
Complex Factors To Look Out For
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Child-Related Issues - If you have children, this will complicate the divorce. The focus will revolve around who will be the sole caretaker for the child, parenting time rights, and who will pay child support. Child support payments may lead to questions about who will pay for the expenses of the child, such as potential medical bills or college tuition. The best case scenario to make these decisions less complex will be for the couple to create a parenting plan. This will help the couple decide what is not only in the best interest of the child but for both of the parents as well. Of course, even with a parenting plan, the ultimate decision will be approved by a judge whose main interest is in the child’s well-being.
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Valuable Assets - A high-asset divorce is any divorce with expensive assets or substantial wealth. In these cases, dividing these assets can prolong the divorce and make the process more complex. These types of assets may include big-ticket items such as expensive homes and retirement accounts. In a divorce dealing with these types of assets, a forensic accountant may be required to ensure that all assets are accounted for and valued properly.
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