El Paso couples who are getting a divorce might want to consider negotiating their settlement instead of going to court and having a judge decide. People can take steps to prepare that include organizing finances and understanding the legal situation. An attorney can be of assistance in the latter area.
Organizing finances is an important element in preparation. This can help people anticipate whether they might need to pay or ask for child or spousal support and how much that might be. The information may also help an attorney assess what might be the outcome if a judge were making these decisions.
People should create a budget and consider what their wants and need are. This can help them make a list of priorities for the negotiations. People should also think about what their spouse's wants and needs are likely to be as well so they can aim for a solution that satisfies both sides. An attorney can assist in negotiations but can also represent a client in court if the case has to go to litigation.
It is important for people to think about protecting their financial well-being during a divorce. After a divorce, a person's standard of living often decreases. In a community property state like Texas, the assets that a person acquires after the marriage are usually considered shared property. For example, if only one person contributed to a retirement account, it still might be split between the two spouses. This can provide important protection to the spouse who has not worked outside the home or who has a lower income, but it may be a cost the other spouse is not anticipating.