Divorce can be a complicated process, especially with children. The acronym PEACE can be used to remember the major points. When filing for divorce, keep these in mind.
P – Parenting Plan: Required under Florida law, and is split into parental responsibility (decision making), child time-sharing (custody and visitation) and everything else that goes along with raising kids.
E – Equitable Distribution: The way your assets (things you own) or liabilities (debts you owe) will be divided. In Florida, the starting point is that marital property is divided equitably.
A – Alimony: This is a payment one spouse makes to other spouse during or after the divorce. The main questions regarding alimony is does one spouse have a need for alimony and does the other spouse have the ability to pay alimony. If the answer to those questions are yes then the question is how much and for how long.
C – Child Support: Child support is based upon a mathematical formula. It typically lasts until the child turns eighteen or graduates high school.
E – Everything Else: This includes the divorce process and how attorney’s fees get paid.