Divorce Essentials

Prior to beginning divorce proceedings, there are a number of things that should be considered to avoid delays or unnecessary conflict between the parties. First, the one should have a clear and complete understanding of the nature and extent of the community estate so that a fair and equitable division can be made. These are just a few considerations, including:

1. Are there retirement plans such as 401k, SEP, Keogh and what is the value of these assets? Are there stocks, bonds, mutual funds or other kinds of retirement accounts? Is it possible to take a loan against the 401k to avoid a division and the taxes and penalties?
2. What is the value of the parties’ residence and how much equity would be available after the costs of sale are paid?
3. Does either party have any property acquired before marriage or by gift, devise or descent? If so, what is the value of that property and has it increased or decreased in value during the marriage. Has either party contributed separate property to improve the community estate?
4. What does is cost to operate the parties’ household each month? This will be an important consideration if one party is requesting temporary spousal support.
5. Are the children enrolled in private school? Rather than pay this from child support, it may be possible to negotiate with the non-custodial parent to bear this expense in addition to the child support?
6. Do any of the children have special needs, learning disabilities or other conditions which may require specialized care or tutoring? If so, child support above guidelines may be appropriate.
7. How long did the marriage last? If it was more than ten years, under certain circumstances, the custodial spouse may be eligible to receive post divorce spousal support. Contractual alimony can also be negotiated and included in the Final Decree of Divorce.
8. Child support is based on a percentage of the non-custodial spouse’s net available resources, ranging from 20% for one child to 40% for five or more children. Net available resources are the amount remaining after Federal withholding, FICA, Medicare, Social Security, union dues and the cost of the dependent health insurance coverage.
9. Are the any health conditions of the party paying child support which may lead to a premature death, i.e., before the children attain the age of eighteen? If so, consider demanding that the party obtain a term life insurance policy that names the custodial parent as the beneficiary for the children.
10. Once the divorce is on file, have your attorney send discovery that will require the opposing party to answer questions about all these issues under oath. Have the Final Decree of Divorce award any undisclosed or concealed property to the party not in possession.
11. If your client is a woman, determine if she wishes to take back her maiden name and include that request in the Original Petition for Divorce.
12. If there is a possibility that the other spouse may react to the divorce by seizing joint bank accounts or emptying them, it is prudent to transfer fifty per cent of the available balance to a separate account.

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