Separation or divorce not only brings emotional stress, but also financial challenges. Often there is uncertainty about which steps to take in order to secure oneself and which rights and obligations exist.
In this article you will find important information and tips on how to protect yourself properly after a separation or divorce. We provide answers to questions about managing joint accounts and assets, alimony and custody, and coverage in the event of disability or death.
An important aspect is also the early settlement of financial matters in the event of an impending marriage or partnership breakdown. We explain the options available and the pitfalls you should avoid at all costs.
With the following information we would like to help you to keep a clear head during this difficult time and to make the right decisions in order to protect yourself and your family in the best possible way.
What happens to the common property?
After a separation or divorce, the question arises as to who gets the joint property. It is important to know whether the assets are marital or non-marital assets. In the case of marital property, the principle of community of gains applies. This means that each spouse can build up his or her own assets during the marriage, but in the event of a separation or divorce there will be a settlement.
When it comes to the non-marital property, it is necessary to distinguish whether a partnership agreement was concluded or not. In the case of a partnership agreement, the assets have already been settled beforehand and all that matters is what has been stipulated in the agreement. Without a partnership agreement, property is divided in proportion to financial participation.
In order to protect yourself properly after a separation or divorce, it is advisable to make a detailed statement of assets and then to reach an amicable settlement. Mediation can also help to find a fair and equitable solution. It is also advisable to sign a prenuptial or domestic partnership agreement in advance to prevent potential disputes.
- After a separation or divorce, joint property is divided in proportion to financial participation.
- In the case of marital property, the principle of community of gains applies and an equalization takes place.
- To avoid disputes, it’s a good idea to make a detailed statement of assets and liabilities and come to an amicable agreement or sign a partnership agreement in advance.
How to be properly covered after a separation or divorce
A separation or divorce is often an emotional matter. But in addition to the final end of a relationship, the question of maintenance also arises. Regardless of whether you have to pay or receive alimony, it is important to make sure you are properly protected.
First of all, you should be clear about what kind of maintenance is due. As a rule, there is postmarital maintenance and/or child maintenance. The post-marital maintenance is limited to the income of the debtor and ends at the latest with the death of the recipient or with a remarriage.
In order to properly protect yourself, you should carefully analyze your financial situation. Here it may be useful to consult a financial advisor or lawyer. In addition, it may be advisable to take out term life insurance or disability insurance in order to be covered in the event of financial difficulties.
- A division of assets can also be a way of providing for oneself. However, it should be borne in mind that in the event of a subsequent divorce, there may be renewed disputes. A clear regulation and protection within the framework of a prenuptial agreement can help here.
- Another important point is the arrangement of custody of joint children. Here, too, it can make sense to agree on a clear arrangement in the form of a contract. Custody does not have to be shared, but can also be transferred to one parent alone.
In summary, it is important to inform yourself thoroughly after a separation or divorce and to ensure adequate financial security. A quick settlement without sufficient information and protection can lead to financial problems afterwards.
How important is custody after a separation or divorce?
After a separation or divorce, one of the most important issues is who has custody of the children. It is about who has the right to make important decisions in the child’s life and who will take care of the child. Custody is an important aspect of securing the future of children after separation or divorce.
If both parents have custody, they must make decisions together concerning the child’s life. If only one parent has custody, he or she must make all decisions, but this can lead to conflicts if the other parent does not agree. It is therefore important to carefully consider custody rights in order to avoid possible conflicts in the future.
It is also important to note that custody is not the same as the right to determine the place of residence. The right of residence determines where the child lives and with whom it has its center of life. Often, the right of residence is awarded to the parent with whom the child mainly lives.
Custody plays a decisive role after a separation or divorce. It is important to carefully consider who should have custody in order to best secure the future of the children and avoid potential conflicts. The right of residence should also be considered in order to make the child’s life stable and secure.
Retirement provisions after separation or divorce
It is not uncommon for a separation or divorce to have an impact on retirement provisions. Especially in marriages with joint retirement provisions, separation can lead to significant changes. It is important to think about the possible consequences for retirement planning in advance.
In the event of a divorce, the accumulated assets must be divided up. This also applies to retirement planning. If the old-age provision is in the form of a private pension insurance, this must be divided with the partner. It is advisable to seek professional help here to find the best possible division.
In the case of a separation without divorce, the joint pension provision usually remains in place. However, difficulties may arise if one of the partners makes further pension contributions in the future. Here you should clarify exactly who will make which contributions and how the joint pension provision will continue to be maintained.
- A separation or divorce often means changes in retirement provisions.
- In the case of divorce, the pension provision must be divided up.
- Professional support can help to find an optimal solution.
- In the case of separation without divorce, pension contributions should be clarified in detail.
It is advisable to think about the impact of separation or divorce on retirement planning in advance. Professional advice can help to find an optimal solution and to secure retirement provisions in the best possible way.
Properly secured after a separation or divorce
Separation or divorce often means not only an emotional burden, but also a change in the financial situation. One of the key questions that arises in this context is that of the insurance policy. Do you need to take out new insurance after a separation or divorce?
The answer to this question is: It all depends. As a rule, you do not have to take out new insurance policies. Most insurance policies are personal and not tied to relationship status. However, it may be advisable to check on your insurance policies after a separation or divorce and make adjustments if necessary.
This is especially important when it comes to liability insurance and homeowner’s insurance. Here you should check whether there have been any changes with regard to the living arrangements. Disability insurance and private health insurance should also be reviewed so that adjustments can be made if necessary.
- In summary, you don’t automatically need new insurance after a separation or divorce.
- However, it may be wise to review your existing insurance policies and adjust them if necessary.
- This is especially important when it comes to liability insurance and homeowners insurance.
- Disability insurance and private health insurance should also be checked.