Finalizing a divorce provides a much-needed breath of fresh air. When things are uncomplicated, your life takes a turn for the better. To fulfill the dream of a better life after divorce, there are some common myths you should avoid.
1. Custody Guarantees the Home
Getting custody of the children does not guarantee that you’ll also get the home. Family lawyers Melbourne looks at the case the same way a judge looks at it. That means both sides will look at the evidence objectively before coming to a conclusion. While television shows have a spouse getting everything in the divorce, the real-life truth is that the home and sole custody are two completely different things. Lawyers will often discuss uncomfortable outcomes where a choice needs to be made on what to pursue. Although children are considered property in the eyes of the law, it’s still a good practice for professionals to be honest about divorce needs vs wants.
2. Property is Divided Equally
Just like custody, equally divided property is an incredible myth that has become its own story. Standup comedians will often joke about losing half of their wealth in a divorce. But if you look at the most publicized divorces of the past decade, the half myth has long overstayed its welcome. This is important to mention for potential divorcees that own their own business. A spouse does not automatically get half of the business in a divorce. Things get even more complicated if the company in question shares publicly. Although some contracts are in place to protect a company when the CEO gets a divorce, many businesses don’t even have them active.
3. A Lawyer Is Required
This is a fun myth that has two sides. A lawyer is not required for a divorce. Furthermore, a lawyer is not required to help with the proceedings when dividing up property and other assets. This sounds good on paper for couples that don’t want to spend money on a professional. Now here is the other side of the equation – you should always hire a lawyer. Divorce is a major event in the life of a person, and there is no guarantee how emotions will come into play. If you go into a divorce proceeding without a lawyer, you’re making it 100% easier for an unfair split of the property.
4. Unkept Homes Are a Smoking Gun
Daytime judge shows have made the ‘smoking gun’ a bit unrealistic compared to real life. During the divorce proceedings, there are no big ‘aha’ moments that turn the tide of a case. It’s very cordial, with a lot of paperwork. The back and forth between the two parties is a debate, where one side is satisfied while the other isn’t. When the house is on the line, bringing pictures of an uncut lawn or unwashed dishes will not magically get you a home. Showing a picture of the car with badly treaded tires will not grant you the car. The only smoking gun in a divorce case has to do with character profiles, and even that is hard to prove.
5. Common Law Marriage is Exempt from Property Laws
This is a difficult one, as not all territories recognize common law marriage. This is a myth that very much becomes a fact depending on where you live. Property law is another wrinkle in the legal system that quadruples in difficulty when you add in common law marriage. If children are involved, things get even more difficult. But the important thing to remember is that these cases have unpredictable outcomes, even in territories where common law marriage isn’t recognized. Time matters, and a longer relationship will always have a higher chance of crossing over into property splits.
6. The Price of The Home Doesn’t Matter
The price of the home matters – sometimes. When assets are divided up to a certain percentage, things can get complicated when the value of the house eclipses the value of the split items. This leads to situations where a couple may decide to sell the home and split the profits from the transaction. In situations where split assets aren’t an issue, alternative assets are used to equal the current value of the home. When there is a disagreement on the value of the home, a delay in the property settle becomes expected. During divorce proceedings, determining a fair value of all physical assets is one of the most difficult things to do. The home in particular will hold sentimental value and be overvalued from its original worth.
7. Face Values Are Absolute
You don’t get sentimental value for the price of an asset. But the actual value of an item is not a perfect number that can be looked up in a few seconds. Real estate is a good example of this, as several listings will have different values that differ in the thousands. It also isn’t unheard of to have three different home inspectors give three completely different reports. There are some rules attached to asset valuation to make things fair, but not to let you ‘shop around’ for the best price. When the court considers specific items irreplaceable, a little bit of rough math is required.
8. Everyone is Against You
This is the biggest myth about any divorce, with property being in its own category. Some spouses get obsessed with weaponizing the divorce and all of its available assets. When a few rulings don’t go their way, negative emotions begin to surface. Judges follow the law, and lawyers do everything possible to get their clients the best resolution possible. Neither judge nor lawyer benefit by going against their code of honor. To get the best possible property settlement during a divorce, trust is a requirement for the lawyer you hire.
Use Your Head
No one can see into the future and predict where your life will lead. Divorce is harsh, but falling for divorce myths will make things worse. Be smart about the facts so that your happily ever after will have no consequences.