“I’m going to take you for everything you’re worth.” This kind of threat is usually reserved for fictional couples who seek a divorce on the television programs we watch or in the books we read. However, it is common for individuals to worry about whether they will lose everything when they divorce in real life.
Put simply? This should not happen
As we have mentioned in previous blog posts, the legal process of divorce is meant to assist couples in becoming legally and financially independent from one another. The laws on North Carolina’s books generally:
- Prevent anyone from “losing everything” in a divorce
- Work to uphold your current standard of living as much as possible
Even so, it is still critical to obtain legal guidance from a family law attorney. That way, you can understand how these laws work and the process of divorce before you begin.
4 matters to keep in mind
“Losing everything” is an extreme. A divorce may mean ending a marriage and losing a partner or confidante, but it will not mean losing all you have. However, you should remember that in a divorce you will have to:
- Divide your assets: Your marital property can include your financial accounts, home and other real estate properties, vehicles and business assets. Many people – especially business owners – might see property division as a type of loss. However, there are steps you can take to protect your assets and negotiate a strategy that can help secure the assets that are most important to you.
- Rethink finances: After the divorce, you will likely rely on one income. Depending on the financial situation you had during your marriage, this prospect can seem stressful. It is often necessary to adjust your saving and spending practices according to this new normal.
- Divide time with children: If you have children, you and your ex-spouse will also have to arrange a custody agreement and parenting plan to divide time with your children. This is often a primary worry for parents – and it can often feel like a loss as well. You can work with your spouse to create a fair arrangement that promotes the best interests of your children while also protecting your parental rights.
- Adjust to changes: It is not a secret that your life will change after a divorce – and those changes can be quite significant. Dealing with grief and the prospect of loss can have a considerable impact on your mental and emotional health. Throughout the process of your divorce, it can be beneficial to seek support as you manage these changes.
While you will not lose everything in your divorce, it is important to take measures to protect your rights, assets, future and everything for which you have worked. The process of a divorce can often be complex and emotionally stressful, but remember: a divorce is not about winning or losing.