When child custody cases are discussed, the term you'll hear over and over again is that any decision has to be in your child's best interests. What's important for you to understand is exactly what that means.
When you have children, it can be difficult to decide on how to divide your property. Things that you might not normally worry about, like splitting up furniture, suddenly becomes a bigger problem when it's your child's bedroom set, and you're already concerned about finances following a divorce.
The difference between nonmarital and marital assets is important when divorcing. Your marital assets are part of the property division aspect of your divorce, but nonmarital assets are considered separate. As a result, any assets you can have assigned as nonmarital assets will not be given to your spouse, unless you give them the asset yourself.
A divorce is stressful at the best of times. You're ending a relationship that you may have thought would be forever, and at the same time, you're dealing with financial and legal stressors.
When you decide to get a divorce later in life, there are many factors that you need to consider. Divorcing later in life means that you have a few additional things to think about, like dividing your retirement account or finding out if you're entitled to any of your spouse's pension.
When you got married, you probably did not even think about divorce being a possibility. Moreover, you probably didn't bother to draft a prenuptial agreement. Fortunately, if you are thinking about divorce, it is not too late to take steps to protect your assets. With a little bit of planning, you can prepare for divorce and protect your interests so that when it comes time to start your new life, you will be ready.