Understanding Divorce Settlements


For many North Carolina ex-spouses, moving forward after a divorce is necessary if the two former partners have children, a business or real estate. Some parts of a divorce agreement, such as child support, can be modified later on, but not all ex-spouses want to make changes.

The divorce settlement will dictate what each ex-spouse will be required to do. As such, someone who is going through a divorce should have a voice in drafting the settlement and what it entails. If a person sees a potential loophole that the other ex-spouse could utilize, they should talk to their attorney about how to prevent that loophole. This settlement is a legally binding contract so having a firm understanding will help prevent an ex-spouse from being able to alter the agreement.

This settlement is important in the event of a future dispute or disagreement. By knowing exactly what is decreed in the divorce settlement, a former spouse may have the ability to represent themselves if they are confident about their settlement. If the person does have doubts about what the settlement entails, however, they should not hesitate to contact an attorney.

The divorce process can be complicated especially if the former couple cannot work together to reach an amicable settlement. A family law attorney may guide former spouses through the process so that they know what to expect and how to protect their assets. If spouses have separate assets, then the attorney may assist with providing evidence to show that the assets in question were obtained prior to the marriage. The attorney may also potentially assist with drafting a settlement so that the requirements are spelled out clearly and that there are no loopholes.