One of the very first rules students are taught at Law School, when it comes to a marital property settlement, is that a person's entitlement is NOT a "Mathematical Calculation"! In other words, you normally can't just apply a set formula to work out what you are entitled to when it comes to dividing up marital property. Your well-meaning friends may say that you're entitled to 50%, 60% or 70%, based on what occurred with someone they know or on what this person says "is the law". If you want to know what your legal rights are, ask an legal expert - not the next door neighbour.

While the laws dealing with dividing up marital property vary widely from State to Country, a court is usually required to take into account a whole range of factors in determining a marital property settlement in a divorce. For example, the court is often bound, by law, to consider the age of the parties, the duration of the marriage, property contributions before and during the marriage, the state of health of each party, any disparity in income levels, assets received by testamentary disposition, homemaker and parent contributions, a party's financial resources and so on. Each case depends on its own merits and you would be wise to seek some initial legal advice - pertinent to your marriage and your situation.

However, lawyers can be as much a hindrance as a help. They're ALL expensive and you don't want the lawyers ending up with most of the "matrimonial cake". The more emotional you are (as against being objective), the higher your legal bill is likely to be! Common sense and reasonableness, combined with sound legal knowledge as to your rights, will usually result in a better outcome for you.

Here are some things to keep in mind: -

1. Marital Property can have a much wider meaning than is commonly understood. Eg. Life Insurance Policies, present Pension Entitlements, Superannuation/Retirement Funds, royalty rights, a business, shares, & so on.

2. Matrimonial Liabilities extend to unpaid debts or future debts, including any possible income tax liabilities. These must be taken into account so as to ascertain the "net value" of the matrimonial estate.

3. A 50 - 50% division of marital property is probably NOT appropriate where there are children (under 18 years) of the marriage, even if both parties’ contributions have been equal.

4. As a general rule, one spouse has no more entitlement to keep the former matrimonial home than the other. It is often better to try and retain it yourself though but NOT if you can't afford to!

5. Don't take ANY notice of what your divorcing spouse tries to tell you about the law. Ignore "Bluffs" such as "I've got the best Divorce Lawyer in town" or "You'll never see a red cent" or "you left me so you aren't entitled to anything".

6. Don't overlook child support and/or alimony. Also make sure that you fully appreciate the implications of any lump sum component that may be "allocated" as part of the property settlement.

7. Statistically, men are traditionally still financially better off than women (on average), even where the man has received less than 50%! The primary breadwinner in marriages has predominantly been the husband, with the wife having been the primary caregiver to the children. A good income stream allows a party to "get back on their feet" whereas little or no income stream does the opposite!

8. Make sure you understand what you are agreeing to BEFORE you agree to it. By this we mean - understand how you will be affected by what you agree to.

9. Consider this question carefully - " Will you be financially secure if you agree to what the other side wants?" A Property Settlement Agreement is usually final!

10. Seriously consider resolving property settlement through conciliation, mediation or even arbitration, whether any Family Law litigation has commenced or not. Remember, you know your spouse better than the lawyers and which approach is more likely to work. One exception to this is where you have been a victim of domestic violence - it's time to stop being a victim and stand up for your rights!

Barry Roche is the founder of The Self-Help Club http://www.self-helpclub.com and the author of the ebook, “How To “Win” When Facing Divorce”. He is a former Family Law Specialist who wrote this book specifically for women. The book is available for purchase at divorceandwomen.com/help.html. Barry is also the author of a 90 page Manual on “How To Beat Your Financial Worries When You Don’t Have A Job” (also available for purchase at divorceandwomen.com/bookstore.html).

By: Barry Roche

Presented as a legal resource by Resources For Attorneys.

In divorce, a common question is, "what is the alimony formula". Well, there really is no set alimony formula for divorce. This is in complete contrast to child support, which is decided based upon a specific formula in each state. Alimony is based on factors and those factors are decided through divorce negotiation or by a divorce judge. But, there is no alimony formula available to your divorce attorney or you to determine in advance what alimony will be paid in your case.

What does a divorce court look at to determine alimony? Those issues do vary by state. But, there are also many alimony factors that are common from state to state. So, although there is no specific alimony formula for you to rely on, there are alimony factors that you can look at to help you determine what the alimony might be in your case.

In divorce, some of the alimony factors that a judge might look at include the following. First is the length of your marriage. If the parties have been married for one year, the court's attitude towards a request for alimony will be very different than if the parties have been married for twenty years. Because the length of marriage varies so much in all divorces, it is not possible to plug this factor into an alimony forumla to determine the alimony amount.

Another factor affecting the award of alimony is employment status. Obviously, if the spouse seeking alimony has been unemployed or underemployed for a number of years to care for young children, the home, or the spouse, that is a factor that will militate in that spouse's favor if he or she is seeking alimony. On the other hand, if that spouse has the ability to obtain employment that will more than adequately meet his or her needs, the court might think a little differently about awarding alimony to that party. Other factors that are considered closely with this factor include level of education, job experience, the age of children in the household, and work history.

A major factor that can affect an award of alimony is the amount of property to be retained or divided by the parties. If the spouse seeking alimony has been a stay at home parent, but will have signifcant assets after divorce or has separate assets, like a trust fund, the court's attitude towards the award of alimony will be affected. The court will certainly view a request for alimony under these circumstances much different than a request made by an individual who is receiving no assets in the divorce or who does not have any separate property.

The health of the party seeking alimony is a major factor that can impact a court's decision in awarding alimony. If the spouse seeking alimony has a debilitating physical condition that impacts whether or how much they can work, the court will not want to impoverish that party after divorce and the court will be more likely to use alimony to address at least basic living needs.

One other factor that should be considered by the divorce court and by the parties, is the taxability of the alimony payments. In most instances, if there is no specific provision to the contrary, spousal support payments are taxable to the recipient and tax deductible to the payor. The tax benefit obtained by spreading out economic wealth in this fashion can be significant and should be discussed in depth with your divorce attorney.

One issue that is not always considered by the court, but should be discussed with your divorce attorney, is that alimony payments are, in general, not dischargeable in bankruptcy. If there is any possibility that the party who is to pay alimony will be filing for bankruptcy, the divorce attorneys will negotiate very hard on both sides to maximize the final benefit to their client in divorce.

It should thus be apparent that in divorce, there can be no easy alimony forumla, no matter what state you live in. It is impossible to plug these and other factors into a mathematical equation to arrive at a "correct" alimony formula. It is necessary that the divorce court, or the divorce attorneys review how these varied and different factors affect both parties in the divorce and then arrive at a solution that encompasses all of the divorce issues, including property settlement and alimony. They cannot simply set up an alimony formula that would work for all parties.

Jean Mahserjian is an attorney and the author of numerous websites and books devoted to helping consumers through the process of divorce. To download free excerpts from her divorce and alimony books, visit: http://www.millenniumdivorce.com

Featured as a Legal Resource by Resources For Attorneys.

This article is designed to give someone who is considering or planning for the possibility of divorce an idea of what documents are needed. Even if you believe your case is ultimately agreed to and settled without a trial, you will be in a much better position if you already have the relevant documents in your possession. Better safe than sorry.

You should locate the relevant documents, make copies, and keep them somewhere secure, like your office or with a friend. You will then have access when it is needed.

Here are the most important seven categories of documents you should focus on.

1. Income Documents

Your spouse's income is relevant to a number of issues in a divorce case. At a minimum, get your spouse's last paycheck statement and your most recent tax return. Ideally, you would have access to all tax returns filed during the marriage, along with all supporting documents and schedules.

2. Bank Records

The monthly bank statements are very important and can lead you to other documents (cancelled checks, deposit slips, registers, etc.) that you also may need to obtain. Get at least the most recent statement for each account that is either held in your name, your spouse's name, or jointly. If possible, get copies of all statements going back to the date of marriage. In most cases this volume of records is not required, but in some cases these records can be very helpful and even necessary to analyze the case.

3. Retirement and Other Investment Records

Often the biggest asset a couple will own will be a 401k or pension account. So you will definitely want the most recent account statement and ideally all statements dating back to the time of marriage. Also, the last statement prior to marriage can be very significant (especially in community property states) to show the pre-marriage balance.

4. Credit Card statements

Again the most recent statements are a necessity, but a lot of important evidence can be garnered from the historical statements. In some cases, the credit card statements will show questionable transactions that can be of real evidentiary value. For example, they might show evidence of gifts or dinners purchased for paramours, questionable hotel rentals, or other dubious purchases.

5. Real estate documents

The most important real estate documents are the Deed of Trust and Warranty Deed for any property you currently own. If you have the entire file from (the giant stack of paper you got after the closing) for each real estate purchase or refinance transaction during the marriage it can be helpful. Additionally, documents evidencing real estate owned by either spouse prior to marriage can be significant, especially in community property states.

6. Mortgage statements & any Other Debts

You should get the most recent statements showing the current payoff balance for any other debts. For those debts that have only a coupon book with no regularly generated statements showing the current balance, you will probably need to contact the creditor by phone for the current payoff information.

7. Relevant emails or other correspondence

Correspondence or emails can be extremely helpful (or damaging, depending on your viewpoint) pieces of evidence in the case. Whether the communication is between spouses or between a spouse and some third-party, the communication is potentially relevant. Two common examples would be where your spouse makes a damaging admission about some issue in the case, or communications with paramours.

Conclusion

Determining which documents you need to obtain for your divorce case can be a very time-consuming and daunting task. Use this list as a starting point and discuss your situation with a quality divorce attorney. This person should be able to advise you specifically on the documents you need to obtain in order to protect your interests.

Scott Morgan has been a practicing divorce attorney since 1994. To learn about California divorce visit www.california-divorce-info.com for a litany of divorce resources, a free newsletter, and a local attorney directory.

Furnished by: Resources For Attorneys, a legal resource and lifestyle directory.

by Everett Sizemore:

Divorces are time-consuming, emotionally taxing, and often unnecessarily expensive. However, the following tips may help the amount of time you need to spend on your matter, which, in turn, may cut down on your costs when working with your divorce lawyer.

Ask your lawyer before "helping" her or him Sometimes, your best intentions turn out to be very bad ideas. For instance, many people try to record their spouse's telephone conversations with third parties, or they try to hide income. These actions may lead to more work on the attorney's part and that will increase attorney's fees. There are many other examples of how people have tried to "help," while only making the situation worse. The important thing to remember is - always ask your divorce lawyer first.

Keep your cool Most couples would not even consider a divorce if their relationship were not already a volatile one. The actual legal process of a divorce often exacerbates the situation and sometimes pushes one or the other spouse even closer to the edge of reason. This is when people smash vases, flatten tires, and burn clothes… Not only does the property itself cost you money, but such behavior makes the entire process more time-consuming, and therefore even more expensive. Even something like changing the locks without a court order can add hours of work to your divorce attorney's schedule and you will pay for that in the long run. Take a deep breath, and remember that you are hurting yourself financially and emotionally by losing your temper.

Collect records and keep track Find and organize receipts for recent purchases. Avoid spending more than usual. Proving what you have or have not spent can make a big difference in your divorce settlement. Keep track of who picks up your children from school and who attends their events and activities, as this may be useful in custody cases. Every divorce case is different, so be sure to ask your lawyer what records you should create and keep.

Promptly do what your divorce attorney asks Every time your lawyer has to call and remind you to get those receipts or documents, that's a little extra addition to your bill. If your lawyer is forced to get the records elsewhere, your bill can grow unnecessarily.

Prepare for telephone calls Rather than calling your attorney's office five separate times with five different questions each day, make a list throughout the day and call to ask all of your questions at once. This saves time and money for everyone, and will allow your divorce lawyer to serve you better.

Your divorce attorney is not a therapist Most people involved in a divorce will have a lot on their minds. In many cases, your divorce lawyer will know more about your situation than even your family and friends know. This may tempt you to discuss the emotional side of your divorce with your attorney. Depending on how much your attorney charges, this might be more expensive than seeing a therapist, who would also be better qualified to assist you emotionally. If you just need to vent, calling family and friends is probably the way to go.

Tell the truth Your divorce lawyer may ask you some personal or embarrassing questions, or you might be stashing away some money on the side. Regardless of your reasons, it is never wise to lie, hide or manipulate the truth when speaking to your attorney. If something pops up later that should have been known from the start, it could end up costing more than just your pride.

How much will a divorce cost? Marital dissolution is like removing a piece of tape from your skin; the slower you go, the more painful it gets. When asked how much a divorce will cost, New Jersey divorce attorney, Karen Meislik said, "The answer is up to you. Divorce attorneys work on an hourly basis. If you and your spouse can work out some of your issues and limit the scope of your disagreements, your divorce will be less costly".

Now that you know how to keep the time and costs to a minimum while getting a divorce, you can concentrate on more important things - like your health and emotional well-being.

This content does not constitute a client-attorney relationship in any way. It is not meant to be used as professional legal advice. If you require advice about divorce proceedings, please contact a divorce attorney.

For more information on divorce and other family law in New Jersey, please click here.

Furnished by, Resources For Attorneys, a legal resource and lifestyle directory.