Divorce can be a complicated process, especially with children. The acronym PEACE can be used to remember the major points. We talk through each of the points on the show today. 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: How 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 another spouse during or after the divorce. The main questions regarding alimony are: 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 is yes, then the question is how much and for how long.
- C – Child Support: Child support is based on 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.
This conversation goes back to the beginning for a refresher in the core elements to keep in mind when you’re going through a divorce.
Links & Notes
- (00:00) - Welcome to How to Split a Toaster
- (00:26) - P.E.A.C.E.
- (04:24) - P for Parenting Plan
- (21:00) - E for Equitable Distribution
- (29:02) - A for Alimony
- (32:22) - C for Child Support
- (36:45) - E for Everything Else
- (39:06) - Wrap Up
