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Columbus Family Law Blog

3 expenses that spousal support can cover

Divorce is a stressful process, but for many couples, it is the best option when they grow apart or realize their life goals have diverged. For spouses who have grown accustomed to the financial stability of their marriage, though, separation can be a daunting prospect. How will you maintain your standard of living and adjust to the financial demands of supporting yourself? These are questions many divorcees ask.

The truth is that divorce is expensive, and adjusting to the expenses of singlehood is, too. If you are in a situation where you may need financial assistance in order to remain financially stable after a divorce, alimony may be an option. The following are three expenses it may cover.

How a prenup now saves heartaches later

As you and your fiancé plan your Ohio wedding, try not to become so caught up in dresses, tuxedos, flowers, gifts and all the other warm fuzzies inherent in a wedding that you forget the realities and practicalities of a marriage. The sad truth is that the U.S. divorce rate has hovered at around 50 percent for the past 30 years, meaning that you and your beloved stand a one in two chance that you will not live happily ever after together.

Entering into a prenuptial agreement before you marry could save both of you a great deal of heartache and acrimony sometime down the road if indeed your marriage ends in divorce. Unlike the stereotypical view that only wealthy couples have prenups, signing a prenup may benefit couples of all economic backgrounds to strategically plan for their future. Your prenup establishes the basic financial "rules" of your marriage so each of you remains financially secure no matter what happens.

Can you withdraw a divorce or dissolution petition?

Sometimes while going through a divorce or dissolution, the two spouses realize they would like to give their marriage another try or that they would prefer to stay legally married for reasons such as finances. Maybe the picture with assets is more complicated than previously thought, for example. Alternatively, it could be that the spouses have to move to another state and plan to refile for divorce there.

Is it possible to withdraw your request for a divorce or dissolution even if proceedings have almost ended?

Bitcoin: A new way to hide assets

Attempting to hide assets during an Ohio divorce is not new. What is new, however, is the way in which some high-asset spouses do it. If you have not heard of Bitcoin and the other cryptocurrencies, you should research them and how they work if you suspect that your spouse is hiding assets from you. You also should alert your attorney to them so that (s)he can investigate whether or not your spouse is using them.

A cryptocurrency, a/k/a digital currency, is a “geeky” form of money. Actually, Bitcoin and the other cryptocurrencies are not money at all in the way we normally use that word. You cannot see or touch them. They are virtual money that more and more people are using to buy merchandise and more and more merchants are accepting as payment.

Setting spousal support involves intricate set of factors

A divorce court does not always order spousal support when an Ohio couple splits up. Very short marriages often do not include spousal support requirements, for instance.

However, when deciding whether an order is appropriate, many factors, beyond the parties' assets and current incomes, come into play. The Ohio Revised Code requires the court to consider a list of factors.

When can a Child Support Order be Modified in the State of Ohio?

Sometimes after a child support order has been issued, the circumstances of either of the parents will have changed in such a substantial way that a modification to the child support order may be warranted. A parent who is seeking such a modification may do so either by filing a motion to modify the order with the court or, in some instances, by submitting a request to the appropriate Child Support Enforcement Agency. It is important for a person seeking a modification of child support to consult a knowledgeable attorney in order to determine how best to proceed.

Can I Divorce My Spouse If He or She Won't Sign the Paperwork?

Divorce is undoubtedly simpler when both spouses agree to the divorce and its terms. When this occurs, the spouses often can simply obtain a dissolution, which is in effect a divorce, but allows the parties to agree on most of the terms of the divorce without court involvement. However, when the parties cannot agree to terms, a divorce will be required.

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