Most families who have experienced the process of a divorce can attest that the most difficult implication is its negative emotional strain on the family as a whole and further on each individual adult or child. While this is usually true, it is also true that a divorce can be extremely costly causing economic hardship that can last well into the future.
Unfortunately, many studies suggest that divorced spouses will need to regain an average of thirty percent of their income in order to maintain a similar standard of living they had while married. Being aware before the first document is filed can safeguard from a financial strain after you have entered into the divorce process. Taking precaution can ultimately make the process less costly and perhaps even minimize the emotional distress.
Facing Financial Obligations After Divorce
When there are children involved in a marriage, it should always be both parent’s primary concern to ensure the children’s wellbeing. Unfortunately, due to many turbulent separations, this is not always the case. Unfortunately sometimes the non-custodial parent who is responsible for making child support payments feels that the former spouse is taking advantage of the funds and not spending it on the children. The non-custodial parent sometimes also feels that the court ordered support payments are too excessive or simply beyond the ability of the payer to maintain. It is important to remember, however, that there are several elements that are accounted for when the monthly payment amount is calculated. Some of these factors include:
- Both parents’ gross incomes,
- How many minor children of the relationship
- Certain expenses such as union dues, health insurance for the children, and
- The amount of time each parent will spend with the children.
If your divorce order includes a child support award, the payer is required to make those payments. Court orders are not suggestions but rather like a set of instructions for the parties involved. If for any reason your financial status has changed or there has been a change in the child custody or visitation, you may be able to request a child support modification. Once you have requested the modification, the child support can be reviewed and can ultimately be adjusted to reflect the current financial situation. This is not an uncommon process through either the court or the Department of Child Support Services.
Another financial effect, which you could face after a divorce proceeding, is that of spousal support, which is also commonly known as alimony. Spousal support can be paid to the spouse whose standard of living is compromised to the extent that they are unable to be self-sufficient. Determining the amount of spousal support is sometimes more difficult than determining the amount of child support. It’s always easier and better in the long run if both parties work together to decide the terms of spousal support. This agreement can be done through the use of private family law mediators. Another advantage to working this out together is that court appearances are not usually required.