Debts and other liabilities will also be divided. In some states, it could be that you both split the marital debt (accounts that you both have or used regardless of whose name it was in) and keep your other separate debts (such as your student loans). It could be that you have three cars in your name and your former spouse has none. The court could order you to sign one over to your former spouse. If the car isn’t paid off, the court would order the car to be refinanced into the other person’s name.
Then, there’s the concept of both child support and possible spousal support. Child support is a federal right given to children and it is usually paid to the parent who will have the children the majority of the time. In some divorces, if the parents of the child agree, neither party will pay child support because they both contribute equally to the financial needs of the child. With spousal support (sometimes referred to as alimony or maintenance), there are several factors that the court considers.
