1. Custody and Parenting Time (if you have children) 2. Child Support 3. Spousal Support (Alimony) 4. Division of Assets […]
1. Custody and Parenting Time (if you have children)
- Legal custody: Who will make major decisions about education, healthcare, and religion?
- Physical custody: Where will the children live, and how will time be shared?
- Parenting schedule: Be specific about holidays, school breaks, and special occasions.
- Communication and co-parenting terms: Consider guidelines for respectful communication.
2. Child Support
- Make sure child support is fair and in line with your state’s guidelines.
- Ask for clarity on payment amounts, frequency, and how long payments will last.
- Address extra costs like school supplies, extracurriculars, daycare, or medical expenses.
3. Spousal Support (Alimony)
- If one partner earned significantly more or sacrificed career growth for the family, spousal support may be appropriate.
- Discuss how much support will be paid, for how long, and under what conditions it could end or change.
4. Division of Assets
- Be thorough—include everything:
- Real estate (home, rental properties)
- Bank accounts
- Investments and retirement funds
- Vehicles
- Business interests
- Valuables like jewelry, art, or collectibles
- Consider future value as well as current value—especially for things like retirement accounts.
5. Division of Debts
- Who will take responsibility for:
- Mortgages
- Credit card debt
- Car loans
- Medical bills
- Personal loans
- Be sure to protect yourself from debts you didn’t agree to take on.
6. Health Insurance
- If you were on your spouse’s insurance, find out when coverage will end and what your options are (e.g., COBRA, individual plans).
- For kids, decide who will pay for insurance and out-of-pocket medical costs.
7. Tax Considerations
- Who will claim the children as dependents?
- How will filing status change after the divorce?
- Will spousal support be taxable or tax-deductible in your case?
- Get advice on how dividing retirement accounts or selling property will impact your taxes.
8. Legal Fees
- Decide if each person pays their own legal costs or if one will cover part or all of the other’s expenses.
- Make sure this is clearly outlined in your divorce agreement.
9. Name Change (if applicable)
- If you want to change your last name after the divorce, include that request in your paperwork—it’s often easier to do it now than later.
