Protecting Your Future And Property In Divorce
Getting divorced involves the complex task of dividing lives that have been woven together – financially as well as emotionally. That’s why two of the important parts of a divorce include dividing assets and debts and determining the living arrangements of the children.
At McCrea & McCrea, we guide clients through the entire divorce process. Whenever possible, we stress efficiency, which ultimately saves both time and money. Financially, this means prioritizing the assets that are worth fighting for and being more flexible with others. From a parenting perspective, this means determining the best interests of the children, and using that framework as a guide to create a custody arrangement.
Fighting For What Matters Most
In particularly contentious divorces, some couples end up spending considerable time (and energy) arguing over ultimately replaceable items such as living room furniture. In many cases, the legal costs associated with fighting for these assets can quickly outpace the value of the assets themselves. Our lawyers are here to help you maximize success in your divorce settlement, which involves minimizing unnecessary legal costs.
Taking Stock: How To Handle Your Biggest Assets
In most divorces, the two biggest assets are likely to be the marital residence and retirement accounts. Knowing how to evaluate and properly tend to these assets is crucial.
Many times, one spouse will want to take ownership of the marital residence, typically because they have primary child custody and want to keep their children in a familiar place. There is nothing wrong with keeping the family home, per se, but there are some important questions to consider:
- Can you afford the mortgage payments by yourself?
- Can you afford the necessary costs of upkeep and maintenance by yourself?
- Does it make sense to keep the house even if it means trading away other valuable assets in the divorce settlement?
With retirement assets, one of the most common mistakes is forgetting that you have them. When getting divorced, it is possible to split retirement accounts, including IRAs, pensions and 401(k) accounts. Our firm will help you identify all assets available and work to divide them appropriately.
Contact Us For A Free Initial Consultation
With an office in Bloomington, McCrea & McCrea is proud to serve clients throughout Monroe County and surrounding communities. To take advantage of a free initial consultation with a family law attorney, call us at 812-650-4425. You can also fill out our online contact form.