Even though some of Jackson, Mississippi’s coronavirus stay-at-home orders will be relaxed this week, the ongoing effects of the coronavirus pandemic is likely to be with us for some time. If you have filed for divorce, have yet to finalize your divorce, or are planning to file for divorce in the coming weeks, you might be wondering how the coronavirus might impact your Jackson, Mississippi divorce case. Ballard Law, PLLC is a divorce law firm in Jackson, Mississippi that is here to help you navigate the legal aspects of your divorce. Our firm can help you navigate the court system and adjust to closures and other changes that may be in place as government officials work to stop the spread of the virus.
What are some things you may want to keep in mind if you are filing for divorce during the coronavirus pandemic? Here are some things you may want to consider, taking into account our changed reality:
- Many people have lost money and value in their investments. Many couples and families have seen their retirement funds depleted. If you had invested in stocks, and are in the process of dividing assets due to your divorce, now might be the time to take another look at how you plan to split your marital assets in your divorce. Some people have lost their jobs and this might change the financial picture as well. Speaking to your financial planner and talking to your divorce lawyer about your options is a good idea.
- The Family Home. When it comes to the equity of the family home, divorcing couples generally have several options: sell the home and split the proceeds, have one person keep the home (with the other partner buying out the other party or by both parties splitting the value of their estate equitably so that one keeps the home and the other party keeps assets), or by both parties continuing to live in the home. Selling the home may be a difficult option right now given economic uncertainty, but you may want to speak to your real estate agent before you make a decision. It isn’t clear how the housing market will respond to the widespread closures we’ve seen. Every situation will be unique. Ultimately, the choice you make about your family home will be a personal one, but with our new changed financial reality, families will need to take this into account when making decisions about the family home.
- Child Custody. One of the most wrenching decisions couples need to make involves child custody. With schools closed, families have had to alter or adjust their parenting plans. If you are in the process of making child custody decisions, it may be wise to take into account the possibility that we could be seeing disruptions in our everyday lives for some time to come.
These are just some things to consider. Ballard Law, PLLC is a divorce law firm in Jackson, Mississippi that can help you navigate court closures and navigate your divorce process in the smoothest fashion possible given these unique times. Have questions about divorce? Reach out to Ballard Law, PLLC today or connect with USAttorneys.com to get matched with our divorce lawyer.