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PLM Family Law

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How to get the best possible divorce settlement

Ideally, you won’t let your emotions get in the way of negotiating a favorable divorce settlement in a timely manner. While you may harbor feelings of anger or resentment toward your spouse, it is generally in your best interest to put them aside during settlement talks. Mediators in North Dakota may be able to help you protect your assets and build a more secure financial future for yourself.

Equitable distribution doesn’t necessarily mean that you get half

Depending on your financial situation, you may receive a majority of assets that you and your spouse acquired while married. However, there is also a chance that you will receive less than half of any joint assets that are split during a divorce proceeding. This may be true if you are better suited to reenter the workforce after the marriage officially ends.

Take your spouse’s name off joint accounts

A judge could order your former spouse to pay down a joint credit card balance or to refinance a loan as part of a divorce decree. However, there is no guarantee that this will happen. If your name is on a credit card or other joint account, your credit score and history may be tainted if this person fails to live up to his or her obligations.

While it may be possible to ask a judge to issue a new order, there is little that you can do to get your spouse to actually make the payments. Ideally, you will ask that the debt be placed solely in that person’s name so that you won’t suffer any negative consequences if the balance isn’t paid off.

If you are going through the divorce process, you may want to hire a family law attorney. An attorney may help take your name off of joint accounts, obtain a significant share of joint assets or take other steps to maximize your chances of a favorable settlement.