When negotiating a divorce settlement, understand the terms of Social Security benefits. Typically, people are not eligible for benefits until they are 64, but will not receive full Social Security benefits until they are 67. If you plan on Social Security being a major source of your income after divorce, consider these terms in order to modify your budget until then.
Alimony Termination Date
In your court documents, be sure that your divorce decree states that issues surrounding alimony must be revisited in court before payments are stopped. Even though a date for payment expiration has approached, you may still need spousal support after that date, and you want the option of arguing against any kind of termination or modification of support in a courtroom.
If you have children and access to health coverage, whether through your own personal policy or your employer, a court will require you to make sure your children have coverage after the divorce. If neither you or your ex spouse have health insurance, the parent who is awarded custody should request that the amount it would cost for coverage be factored into the child support amount being paid.
Read more in Part 2
Maintaining your financial and emotional security comes hand-in-hand with making very important considerations when you are going through the divorce process. For more assistance on negotiating the best possible settlement agreement, contact a Glendale divorce attorney at The Sampair Group. Contact us today for a free consultation.