- Example VI: Lance and Katy
Marital Profile: Lance and Katy have been married for eleven years and have a small child. Katy is the CEO of a non-profit organization, she earns a substantial salary. During her career Katy has done extensive traveling which made it necessary for Lance to quit his job and become a stay-at-home dad.
Divorce Settlement: Lance and Katy will share joint, legal custody with residential custody going to Lance. Lance was awarded the marital home and all equity in the home. He was also awarded spousal support for a period of five years and child support based on state child support guidelines.
Katy fought for custody and against spousal support. Lance was able to give evidence during divorce court that showed Katy had little interest in her children and would not be able to care for them due to her work/travel schedule.
The marital assets were split 60/40 in Lance’s favor because the judge felt that Lance, being the lower income earner and caretaker of their children should continue to live the standard of living he and his children had become accustomed to.
Lance will have the opportunity to continue is his role as a full-time father, rebuild his own career and one day earn an income equal to or greater than that of Katy. Until then Katy is responsible for taking care of the people she left behind.
There can be a HUGE difference between an equitable divorce settlement and a fair divorce settlement. When negotiating your divorce settlement the outcome is based on many factors. The courts will take into consideration standard of living and the long-term needs of a spouse if you, the one going through the divorce demands your divorce attorney fight for what is “fair.”
