During the waiting period, you begin to resolve each of the issues germane to divorce. You are thus working toward a fair settlement for the post-divorce period. Two categories of issues must be resolved: financials, and if you have children, issues related to legal custody and parenting arrangements.
Financials
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alimony or spousal support
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personal property
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division of liquid assets: cash, stock, and bank accounts
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division of retirement accounts and pensions, stock options and less liquid assets
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whether or not to sell the house and other real estate
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who will keep the house and other real estate if it is not to be sold
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tax issues
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child support, medical insurance, and tax exemptions for children
Parenting Related
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legal custody and parenting schedules
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special provisions concerning children: medical expenses, college, extracurricular activities, private school and the like
Considerations Before Settling
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what do you believe is in the best interests of your children?
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can you handle all of your new responsibilities?
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have you considered all of the tax ramifications?
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have you considered the mix of assets you’ll be receiving: liquid vs. non-liquid, and does the settlement meet your immediate needs?
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does the settlement set you on the right path for your long term needs?
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can you live with the proposed settlement, even though your not completely satisfied?
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will a trial cost more emotionally and financially than what you hope to gain?
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if you cannot settle, will what you’re fighting about matter in 5 years?
Agree upon what to tell family and friends so that there is no misunderstanding about what the living arrangement signifies.
Making sure you are prepared and know all your options will help things go much more smoothly for you and your family. Be sure to visit the Peace Talks resource center at
http://www.peace-talks.com/resources.php. For basic divorce information, see http://www.peace-talks.com/divorceinformation.php.
Excerpted from Your Divorce Advisor: A Lawyer and a Psychologist Guide You Through the Legal and Emotional Landscape of Divorce (Simon & Schuster/Fireside 2001). For more information: http://www.yourdivorceadvisor.com/.
For more information contact Peace Talks www.peace-talks.com
(C) 2008 Peace Talks Mediation Services, Inc.
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Tags: Working with Your Spouse, Your Responsibilites, Your Rights
