Almost 50% of most marriages end in divorce. Each couple's reasons for seeking a divorce would be slightly different. If the complications that cause a couple's unhappiness get to a point where the relationship cannot be resolved, most couples will look for a divorce to overcome the misery and distress inherent in a rough or loveless marriage. Yet, many people are haunted by the financial part of a divorce. So here are a few important money problems that you should be aware of:

How will child & spousal support payments be determined?

While alimony refers to the court-ordered support paid by one spouse to support the other, child support payments are intended to cover child/children's expenses. This typically includes food, shelter, clothing, education, and health costs. In most states, including California, child support payments are determined using an "income shares" model to ensure the children receive the same amount of financial support that they did before the divorce.

Who funds the children's healthcare expenses?

Children most often remain covered under the insurance provided by the same parent before the divorce. However, when it comes to out-of-pocket medical expenses, the cost may be split between parents depending on income.

Who pays for the divorce & legal fees?

Generally speaking, the divorce expenses are covered individually but can be split between both parties. Sometimes, the cost can be negotiated, or the court can order a spouse to cover some of the other spouse's expenses, depending on the financial situation. You must ask your Family Law Attorney how the costs of divorce can be split.

Who is accountable for debt acquired during the marriage?

Deciding who is accountable for the debt a couple has incurred is often more challenging than dividing physical property. It is essential to identify which debts are shared by both parties and which debts are only in your spouse's name. You should consult your Family Law Attorney on the best way to either pay for or split the debts.

Who gets tax exemption for dependents?

It's important to discuss this and other tax questions with your Family Law Attorney since your taxes - including exemptions & deductibles will likely change once you are divorced, especially if you receive full custody of your children.

Mr. Binoye Jos, at Jos Family Law, the best Family Law Attorney, focuses on aiding families with legal matters. That involves the most crucial people & aspects of their lives. Reach the law office of Mr. Binoye Jos, the best Indian Family Law Attorney in Orange County. At 1-714-733-7066, to get the guidance you require. And to execute smart, knowledgeable judgments.