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Negotiating Divorce Settlement Agreements – Factors to Consider

Posted on: May 2nd, 2013 by Scott Law

Maintaining financial security is the top consideration for any person who is faced with a divorce. So, the aim must be negotiating a divorce settlement that will keep you financially viable throughout your life. Before you separate, you, your spouse, and your attorneys must get together and decide how to divide the marital assets.

Retirement plans

If retirement has been accumulated during the marriage by either spouse, the amount accumulated would need to be divided equitably.  This can often be done by agreement of the parties and in working with the plan administrator.  Sometimes, however, a specialist is required to accomplish the division of retirement and to draft the appropriate orders.   If retirement is going to be a major source of income for you, it must be taken into consideration during the divorce settlement.

Health insurance

If you have children and also have health insurance, the court would ask you to extend the coverage to them. If neither parent currently has access to health insurance, the parents need to determine what the cost of insurance would be in order to factor it into the child support payments.

Marital home

The court takes into account the kind of life the child is accustomed to and ensures that the lifestyle is maintained. So, the parent who gets the parenting time with the child most often may also be awarded the marital home as it plays a huge part in maintaining the pre-divorce lifestyle of the child.  In negotiating a divorce settlement, marital home must be addressed as well as any equity, negative equity and debts.

Child Care and Extracurriculars

The parents should consider how to divide child care costs and extracurricular activities for the child. These expenses may be factored into the child support payments.   They may also be agreed upon as expenses divided outside of child support.  The parents will determine what works best for them and utilize the resources of a Phoenix family law attorney to assist