Divorcing is often a protracted and frustrating process. It can take months for a divorce to move through the courts. When it's all finished and you have a parenting plan and custody order in place, you may feel like the last place you ever want to be is inside a courtroom again. No matter how stressful the process may have been, it's important that you understand that the terms of your divorce are not set in stone.
Ohio single parents struggling to make ends meet often rely on child support in order to pay the bills for their children's educational, medical and other needs. Many people may see news reports about high-profile celebrity divorces and custody cases, and these reports can skew expectations and beliefs about the child support system for everyday people. For most people, child support provides just the necessary funds in order to cover basic expenses, and many parents still struggle to support their children adequately.
Considering that nearly half of U.S. marriages end in a split, America has one of the highest divorce rates in the world. Furthermore, the fact that the divorce rate in Ohio is about 40 percent places the state median close to that of the nation. However, what all of these statistics fail to mention is the amount of anguish and emotional turmoil involved in the process. Besides having to break a vow that was supposed to be upheld till death, couples have to deal with splitting up assets, maneuvering child custody battles and hashing out all the details pertaining to alimony and child support.
According to a study by the Urban Institute, the income of parents who owe 70 percent of child support debt ranges from $0 to under $10,000 annually. Filmmaker Rel Dowdell says that many of these parents are African-American men who suffer disproportionately under the child support system, and their children in turn suffer as well. Some Ohio parents may struggle with these issues.
When the children of wealthy Ohio families are planning to get married, they may not always consider using a prenuptial agreement. This is often an option that is pushed by the parents who may be concerned about keeping wealth within the family rather than going to a spouse in case of divorce. However, children may resist it.
For many married couples getting divorced, one of the biggest challenges will be the division of child custody and parental responsibilities. In most cases, both parents want to remain a significant presence in the life of the children. This can lead to serious conflict, especially if the divorce isn't amicable. Parents who can't agree on how to divide custody before heading to court will have to let the Ohio family court judge hearing the case make the major decisions.
For some couples in Ohio who are getting a divorce, their retirement accounts might be the most valuable assets they own. They may need to divide these assets during the divorce, but it is important to ensure the proper documents are in place so that it is not necessary to pay taxes or penalties. People should also take precautions, such as not approving a change in beneficiaries for a 401(k), until the divorce is final. Otherwise, if the spouse who owns the retirement account dies, the other person may not receive anything.