If you are contemplating a divorce in your 20s or 30s, there are some special considerations you will need to keep in mind. The decisions you make during your divorce could truly impact the rest of your life. Even if you do not believe you have much to lose, you need to avoid mistakes that could have negative consequences for years, if not decades, to come.
One of the biggest mistakes people make during their divorce is to rush through the process. They want to get it over with as quickly as possible, and they prioritize avoiding short-term stress over making decisions with their long-term best interests in mind. But, while is generally best to avoid unnecessary conflict, and while you certainly do not need to become an expert in the nuances of divorce law, as you go through your divorce it will be important think critically about each aspect of the process.
What else do you need to know if you are considering a divorce in your 20s or 30s? Here are some general tips to keep in mind:
During the course of your marriage, you and your spouse acquired items of property. In Indiana, all of these assets are subject to distribution during your divorce. But, that’s not all. Under Indiana law, assets you and your spouse owned prior to your marriage are subject to distribution as well. As a result, as you prepare for your divorce, you cannot assume that property you owned prior to your marriage is yours to keep.
Since all of your assets are subject to distribution, all of your debts are, too. Does your spouse have student loans? Did he or she bring ill-advised credit card debt into the marriage? If so, these could become key factors in your divorce.
While most discussions of retirement plans are reserved for articles that focus on divorce later in life, this is an important issue for younger spouses as well. If your divorce will involve a retirement plan or any other asset that has the potential to substantially increase in value over time, you will need to take this into consideration when determining what constitutes a fair division of your “marital pot.”
In Indiana, there is no such thing as alimony, and awards of spousal maintenance are relatively uncommon. This is particularly true for younger spouses. Unless you or your child has a physical or mental disability that prevents you from working, the most you can expect is three years of financial support while you pursue employment-related education or training.
If you have children, the circumstances and dynamics of your marriage will play significant roles in determining what you can expect with regard to child support and child custody. Do you and your spouse both work? Do you both like to travel? Is it possible that you would move to another state before your child (or children) turn 18? Do you have grandparent-related issues to consider? As a younger parent, these are all factors that could heavily influence your parental rights and responsibilities after your divorce.
If you would like more information about getting a divorce in your 20s or 30s, you can contact our office for a free initial consultation. To speak with an attorney in confidence, call (317) 688-1305 or request an appointment online today.
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