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A divorce proceeding is
initiated by the filing of a Petition by one party and the Response by
the
other party. The party originally
filing the Petition is known as the "Petitioner" and the other party
is known as the "Respondent." The date of
service of the Petition on the
Respondent is important as it
initiates the 6-month waiting period between the start of the
dissolution and
the eligibility to request that the marital status of the parties be
terminated
and final Judgment entered. It is
possible to terminate marital status before all other issues are
resolved.
At any stage of the
process, the parties may draft a full Marital Settlement Agreement
agreeing to
specific terms regarding disposition of their assets.
Where the parties have arrived at such an
agreement, that
agreement is incorporated into the "Judgment" which is then signed by
a Judge and made an order of the Court.
In more complex divorce
proceedings, time of trial is usually delayed considerably to allow
time to
determine the fair market value of or the amount of encumbrances on
each item
of community and/or separate property. In
any dissolution of marriage proceeding, the
goal is to divide the
community's assets and obligations equally between the parties. Examples of assets are: the
community home, the family business, the
pension and 401k plans, etc. Examples of debts are:
credit card debts, educational loans,
mortgages, etc. The issues involved may
include: As between the parties who will
stay in the
house? Who will pay for the
mortgage? To whom should the
educational loans be assigned and when will the proceeds of the 401k be
divided? How is the interest in the
family business divided? Who will keep
the business? There are other litigants
who concern themselves with who gets the custody of the dogs and the
horses. We try and also urge our
clients to attempt to keep a sense of humor while decisions about their
children, lives and finances are being made.
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