Often, the terms “limited” and “absolute” are used when it comes to divorce. Knowing the differences between the two may help in understanding the process better. A limited divorce isn’t a divorce; it’s a legal separation. It’s a tool used by the court to legalize separation and provide financial support. The property owned by both spouses remains the property of both.
The types of child custody include physical, legal, sole and joint. In physical child custody, the parent has the fight to have the child live with them. Generally, the parent with whom the child primarily lives will have primary physical custody with the noncustodial parent having the right to parenting time with the child. Joint physical custody may be awarded when a child spends significant time with both parents.
Any divorce can have challenging disputes over marital property, but those couples with complex marital assets often experience more difficulty in reaching a resolution. Determining the division of property an equitable distribution is complex and technical with complex marital assets, such as investment portfolios, executive compensation packages, multiple real properties and family-owned business assets.
Alimony and spousal support are the same thing and designed to help an out-of-work spouse or lower earning spouse. Its intention is to financially assist that spouse get through the divorce process and transition into becoming self-supporting. Alimony has become less common over the past decade, and its duration is typically brief. In situations where both spouses work and there isn’t much different in their incomes, it’s unlikely the court would award alimony.