Nassau County Family Law Blog

Friday, October 30, 2015

Divorce Settlements

What should you ask for in divorce settlement negotiations?

It was a hard decision, but you have finally decided that you want a divorce. Unfortunately, it might get worse before it gets better. At this point, you have to contemplate what your situation will be like after you transition from being part of a couple to being a single person. There are financial and logistical matters to address and an experienced divorce attorney can assist you in identifying and obtaining what you want out of your divorce settlement.

If you have children, they are likely your number one priority. Decisions relating to children can be difficult, but they must be thought through. Do you want custody of your kids or would you prefer visitation? Are you likely to get custody if you petition for it? If do not want or receive custody, can you pay child support? All of these matters can be agreed upon or litigated and incorporated into your divorce settlement agreement. It is always best to negotiate agreements that are as detailed as possible when it comes to custody, visitation and support matters, as these agreements are difficult and expensive to modify after the fact.

Another important matter is where you will live after your divorce. Do you want to stay in the marital home? Can you afford to buy your partner out and make any necessary monthly payments? Or would you rather sell and move somewhere that is better suited to your new status? You can work out all of the details of either buying or selling the family home and including these terms in your divorce settlement agreement.

It is also essential to think about your greater financial future. Can you afford to live on your own after your divorce? Will you need time to get back on your feet? Will you need maintenance during the transition? You must also make an accounting of all of your assets and liabilities, especially those held jointly, and determine how each will be dealt with. Do you have any assets, such as a house, that you will not be able to afford to maintain? Would it be better to liquidate these? You must also think about joint debt. Which spouse should be responsible for which debts?

More than likely, you and your spouse will have differing opinions on many of these issues.  You will have to negotiate and possibly compromise to put together a divorce settlement agreement that works for both of you. That is why it is essential to have the best attorney possible by your side.

Nassau County, New York divorce attorney Howard B. Leff has years of experience working with individuals going through a divorce.  Contact his office today at (516)739-7500 for a consultation.

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