If you and your spouse are considering a divorce, you have different options depending on the nature of your separation. You can file for an uncontested divorce when you both agree on the legal reason for separating and how to manage your marital assets.
An uncontested divorce is generally less expensive and more efficient since there is often no need for a trial, but you should have a separation agreement that resolves key issues.
Division of assets
One potential point of contention between you and your divorcing spouse is how to split your combined assets and debts. These could include any jointly or separately held property:
- Real estate
- Financial accounts
- Stock options
If you can agree about who gets what, you may be able to save time and money with an uncontested divorce.
If there is a significant gap in earnings or assets between you and your spouse, you may want to determine what kind of spousal support to include in your separation agreement. During a contested divorce, a judge considers the length of your marriage, the degree of income or asset inequality, and future earning potential to determine alimony terms.
Before filing for an uncontested divorce, ensure you and your spouse discuss your options and agree on a spousal support solution that works for both of you.
When children are involved, the parties need to address:
- Custody (legal and physical)
- Child support payments
- Parenting plan
It can be painful when a marriage ends, but discussing the terms of your divorce and coming to an agreement with your spouse can streamline the process and save you both time, money, and stress.