Divorce Checklist - Children & Finances

This Divorce Checklist covers:

• Choosing a family divorce lawyer
• The children
• The finances
• The liabilities
• Other

Choosing a family Divorce Lawyer

Choosing an experienced family divorce lawyer is vital to minimizing the losses incurred after a legal separation. This is especially applicable where the custodianship of the children are involved. Considering the divorce laws vary according to the residency of the couple, it is important that a relevantly experienced family divorce lawyer is used.

Divorce and Children Checklist

Children in divorce are the true innocent victims of a relationship break down. It is therefore vital to minimise the inevitable hardship children feel when faced with the parental separation. To do this it is important to recognise that children tend to have an over active imagination, especially when faced with a crisis. The point of concern is that children tend to adversely use their imagination to create scenarios that are often very dark and negative in nature. For this reason, the primary aim of any parent must be to ensure the welfare of the children during the divorce. Research has shown that the following steps may help children to better cope with the parental separation:

1. The children should be told as soon as divorce becomes immanent, but both parents must be present and no blame should be placed on any one parent.
2. The parents must appreciate that divorce often results in long-term emotional and psychological damage to children, however this can be minimised and sometimes even prevented if children are able attend specialised counseling sessions.
3. Children should not be expected to take side or decide on the custodianship.
4. Ideally, the parents need to agree upon an amicable schedule where the children's visitation time is equally divided between them (Unless, circumstances such as abuse etc. may put the child at risk). Careful consideration should be given to the children visitation rights. It is vital that a child feels that very little has been changed other than the fact that the parents are no longer residing together.
5. Consideration must be given to the implications involving the financial support of the children. The financial support could be in the form of Governmental Aid or one parent providing Child Support, but in either case, it is important that the children's cost of living are listed and fully catered for (including clothing, medical bills, food, toys, school fees, pocket money, college and further educations etc.).
6. Careful consideration should be given to the children visitation rights. From the child's perspective it is vital to show that very little has been changed other than the fact that the parents are no longer reside together.

Divorce and Finances Checklist

Divorce and its financial implications are among the most worrying aspects of any relationship dispute. Divorce often results in extensive financial losses, both immediate and long-term. Therefore careful consideration must be given to the following:

1. The division of the family home could be problematic, as its highly unusual for one partner to willingly give up all rights without any expectations or demands. This in turn is further complicated if the house is financed, and splitting the finance can be troublesome process. In addition to which, it is important to ensure the finance company is not unreasonably benefiting from the separation.
2. It is important that consideration be given to any pensions involved, as the pension in itself could amount to a substantial sum.
3. Any financial savings, shares, bonds etc.
4. Any ongoing financial maintenance.
5. The division of all belongings, including furniture, cars etc.
6. Future financial obligations (e.g. life cover etc.).
7. The legal and professional costs associated with the divorce.
8. If a prenuptial agreement exists, then it is important to ensure that the agreement is legally binding.
9. Make full use of any governmental schemes designed to provide financial aid, including any Tax Credits and Child Support.

Divorce and Liabilities Checklist

The Liabilities in divorce refer to the legally binding financial obligations that the couple are jointly responsible for. Consideration should specifically be given to:

1. Tax liabilities from any financial settlements, such as the Capital Gains Tax (from selling your home) etc.
2. Any loans or debts can become a liability if conjointly owned. This includes any bank loans, credit card debts, car loans etc.
3. If the couple are in business together, then the business is a Liability and bankruptcy may also become necessary.
4. The mortgage is a big liability as very rarely does one partner voluntarily agrees to relinquish all ownership without any expectations or demands.

Other Divorce Checklist

The other aspects of the Divorce Checklist includes:

1. The complexity involving the ownership of any pets are often overlooked, and can often be as complicated as any child custody battle.
2. It is important that anything agreed, or implied, is documented and where possible officially recorded.
3. Both partners must have copies of all documentations.
4. List all assets and their values. Be advised that it is common for one partner to attempt to hide, or, "temporarily give away" certain assets prior to divorce.
5. Don't forget to notify all official and relevant organizations of any changes to your circumstances.