Family Law Attorney: Financial Arrangements
Money is often at the center of cases involving a family law attorney
. Whether planning for a relationship or dissolving one, money is often the central part of the discussion. Because money is such an important commodity, it is important to go into the case with a legal representative with experience in situations that families often face. You need a set game plan before any type of discussion begins. Here are a few examples of how finances affect relationships.
Prenuptials
Before walking down the aisle, couples often make an appointment with a family law attorney to talk about a prenuptial agreement. This contract determines how the finances are divided if the relationship is terminated. It details how much money the husband will receive, how much the wife will receive, and even list out some specific circumstances that could change the arrangement.
Even though getting married is an exciting time with so many things to look forward to, people still want to protect their assets on the chance that things do not work out. This contract can be drawn up in the office, signed in the office and filed by the family law attorney.
Separation
When couples are not ready for divorce or they are waiting to take that final step, there are still financial questions that need to be addressed. If one person is living in the home, who is paying the mortgage? If there are car payments or credit card debt, who is responsible for handling them? Sometimes couples can work these things out amicably as they wait to see where the relationship is heading. Other times, a family law attorney will need to be involved to make sure that all money issues are handled during the separation.
If the couple chooses to get back together and work things out, the separation's financial arrangement is no longer necessary. If things progress and there is no way to save the marriage, more drastic measures need to be taken. In this case, both the husband and wife along with the children need to be financially taken care of in some way.
Divorce, Alimony, and Child Support
Divorce is not just dissolving a relationship. It is also changing the way that a couple handles their finances. A family law attorney can help to establish how the money should be divided between the two individuals. While some states adhere to a 50/50 policy, most of the time the situation is not that easily resolved. One person may be entitled to spousal support, also known as alimony.
The children also need to be taken care of financially. Custody of the children makes a difference in the amount of child support one-person pays to another. One parent may be responsible for health care while the other takes care of the cost of schooling.
by: Aloysius Aucoin
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