A divorcing couple often faces emotional and financial turmoil during the process. Dividing a single household into two futures, even if it is the best decision for both spouses, can cause significant stress and worry. Unfortunately, many couples become overwhelmed during the divorce process and overlook numerous factors.
Two factors that might often be overlooked in the divorce process are uncommon parenting plan provisions and intangible assets.
- Uncommon parenting plan provisions: Divorcing parents will struggle to include every contingency in their parenting plan. They might consider it a victory to include primary and secondary holiday rotations, alternate locations for a custody exchange or acceptable exchange proxies, but there are other provisions that are often overlooked. Couples should also note how punishments are handled across households, how bad weather custody exchanges will be addressed and what type of communication regarding the child’s desire for body modifications are preferred.
- Dividing intangible assets: Most couples will immediately consider how the process of property division relates to physical assets such as a house, car or prized book collection. Asset and debt division, however, can cover nearly anything. Intangible assets can include digital property, deferred compensation, bonus packages or retirement accounts. Additionally, couples might overlook the division of season tickets to a sports venue, club memberships or tickets purchased in advance of an event.
It is important to remain calm and clear-headed during the divorce process. With the sheer amount of stress and worry inherent in the process, it is not uncommon for the divorcing couple to overlook factors that need to be addressed. Work with an experienced legal professional to ensure you have the right guidance from start to finish.