Arizona couples who are ending their marriages often become the target of unsolicited advice from well-meaning family members and friends. However, the advice they are given is often incorrect, and, if followed, can have cataclysmic consequences.
One popular misconception is that parents do not need the help of an attorney when determining child support. Many divorcing parents believe they can easily figure out what will be owed by looking at published state guidelines. However, there is much more involved in setting child support payments than simply referring to a chart, and an experienced family law attorney would understand that. Differences in determining actual income versus what is reported on the tax return, child care expenses and employee benefit programs all play a major role in determining child support. Therefore, divorcing parents could be cheating themselves and their children if they don’t seek competent legal guidance.
The family home is likely the couple’s biggest asset, and the mortgage is often their largest financial obligation. The party who gives up the home should not assume that his or her responsibility for that debt also disappears, even if the divorce settlement agreement so states. Lenders are not bound by that agreement. Accordingly, the mortgage will have to be refinanced in the sole name of the party who is staying in the home. Alternatively, an indemnification agreement could be prepared.
The end of a marriage can be an emotional time, and some people want to get the divorce process over with as quickly as possible. This may result in them agreeing to terms that are unfavorable, which is why having legal assistance could be advisable.