The Financial Aftermath of Divorce

The Financial Aftermath of Divorce

The Financial Aftermath of Divorce

The emotional impact of divorce on parents and children, if the couple has children, can take a toll on a family, but the financial costs of divorce can have serious implications if legal counsel is not sought for advice. Some couples get divorced and the husband or wife ends up having to pay for over half of the other’s property expenses or child support. In other cases, a spouse may refuse to make any payments after the divorce is settled, even if they are legally obligated to. If you are in one of these situations, contact a divorce and family law lawyer to ensure a fair deal.

Child Custody Rights

Deciding which parent will gain full custody or partial custody of any children the couple may have, is a difficult deal to make because the children are often innocent bystanders in this matter. This is why laws surrounding child custody have promoted joint custody of children as a legal option for both parents to take turns raising their kids. If the parents are indecisive about who will get full custody, then the judge will decide during the trial.

Visitation is the legal right for the parent who does not get child custody to be able to see their kids on certain dates like weekends or holidays. However, visitation can be revoked if the parent is deemed dangerous by the court. Another option for parents who are deemed dangerous is supervised visitation.

Financial Payments

Child support payments are only required for the parent who does not receive custody of the child and the amount required depends on the income of both parents. This ensures that the divorce will not cause harm to the child’s well-being.

Property distribution is another financial factor that may be divided up evenly or mostly to one The Financial Aftermath of Divorceparent. When determining how property payments will be divided, Oklahoma courts consider the duration of the marriage, tax repercussions, each person’s finances, child custody, and alimony.

Alimony is the amount of money that one is obligated to pay the other after the divorce. Oklahoma offers temporary alimony that may only last the length of the divorce proceeding, but may also last half the length of the marriage. These payments can be paid all at once or on a monthly basis and may be extended if one of them is unable to work because of health problems.

Legal Costs of Divorce

Getting a legal divorce is not free and comes with a filing fee, fees for serving papers, and hiring a divorce lawyer if you need legal help. Although, a judge may exempt the filing fee if you are unable to afford the cost.  

How to Contact a Divorce Attorney

If you are worried about financial repercussions after a divorce, then contact the divorce lawyers at the Putnam Law Office. We will work with you to obtain a fair financial deal. Mr. Putnam is a practicing attorney in Oklahoma City, OK who puts clients first. Call us today at (405) 726-1010 for a consultation to review your situation.

 

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