Posted on July 25, 2016 in Hidden Assets

It is only natural to want your fair share in a divorce, and there is nothing wrong with protecting assets that are rightfully yours. An attorney can help you with all of this, but it is possible to take things too far and deceptively try to keep more than you should. A civil and potentially even a criminal matter, such practices are known as asset hiding, and they can land you in trouble. Understand the difference and learn how you can legally protect your assets during your divorce.

Protecting Your Business

Like all other marital assets, businesses are valued and equitably distributed during divorce. This does not necessarily mean that you have to take on your soon-to-be ex-spouse as a partner, or that you have to sell the business. In fact, if you are willing to part with an equal sum of your remaining marital estate, you may be able to walk away with your business intact. However, it is important that you tread carefully in business matters while pursuing a divorce.

Continue Reading ››

 Posted on July 20, 2016 in Mediation

Mediation is a process that encourages couples to amicably work through the details of their divorce, such as the division of assets, allocation of parental responsibilities, and alimony. But how, exactly, does the mediation process work? And is it the right option for your divorce?

How Mediation Works

When couples decide to mediate their divorce, they work through their divorce with a mediator, instead of a judge. Details of their divorce are negotiated rather than litigated. An impartial party, the mediator can only make suggestions for working through a particular problem. They cannot make any decisions. However, each party does still have the right to hire an attorney to ensure their rights are protected, and that they have considered all relative factors in the negotiation process.

Advantages and Disadvantages of Mediation

Couples who successfully complete the mediation process often find that there are some distinct benefits. For example, the process is often less contentious because it encourages couples to focus on the details, rather than blame for the dissolution of their marriage. It is also a process that can save couples time, money, and stress. Furthermore, the process is more private and offers more control over the final outcome than traditional divorce.

Continue Reading ››

 Posted on July 18, 2016 in Divorce

Even when you know that a divorce is necessary, the process can be stressful, full of tension, and emotionally taxing. In fact, even those going through amicable divorces find themselves surprised by the sense of loss they feel during the process. Rest assured: these feelings are only temporary and, very soon, you will be on the path to healing. But you do not have to wait until the divorce is over to take positive, healthy steps forward. You can use these tips to help you rise above the stress and tension of your divorce, starting immediately.

Know Your Risks

The first step to solving or preventing a problem is knowing that the potential for one exists. As such, you should be aware of the negative effects that a divorce can have on your life. Studies show that trauma of a divorce can have a lasting impact on your mental and physical well-being. Take preventative steps, such as remembering to take time for exercise and try to eat healthy. Seek emotional support from family and friends. And, if necessary, see a therapist or counselor to help you deal with feelings of anxiety, anger, depression, or guilt.

Continue Reading ››

 Posted on July 13, 2016 in Child Custody

Most parents recognize that they are not the only ones hurting during divorce. Children, who once had a whole family, living under one roof, must now split their time between two homes and two parents. This, in and of itself, can be stressful, but many also assume responsibility for the dissolution of a marriage, or blame one or both of their parents. When paired with the upending of their lives, this can lead to problems with depression, anxiety, and behavioral issues at home and/or school. However, parents can help children survive divorce and better adjust in the months and years after by avoiding some of the most common divorce mistakes.

Be Willing to Take an Honest Look at Your Own Behavior

When going through the emotional stress of a divorce, it can be difficult to take an objective look at your behavior, but unless you are willing to do so, you will never really be able to determine if there is, in fact, a problem with the way you are reacting to your child or your spouse. So, regardless of how you are feeling, be willing to at least try and take a step back to examine your behavior. If you need help from a therapist or a close, trusted family member or friend, seek it out. This can help you be better equipped to help your child in the weeks, months, and even years following a divorce.

Continue Reading ››

 Posted on July 08, 2016 in Divorce

In divorce, couples often assume that debt, like assets, will be appropriately divided. Unfortunately, this is not always true. And, even when debt is assigned in divorce, creditors may still hold both parties responsible for an unpaid debt, missed payment, or late payment. As such, it is critical that you take assertive steps to protect your credit, and your financial future. Our attorneys can help.

Dividing Debt in Divorce

The first step to protecting yourself from debt in divorce is knowing which debts actually belongs to you, and what debts belong to your spouse. With the help of your attorney, you and your spouse can attempt to separate these debts outside of court. However, debt division can be taken to court for litigation if you and your spouse are unable to resolve matters amicably. Factors that the judge may use to determine who is be responsible for debt will typically include:

• Who opened the account or made the debt;
• Who received benefits or proceeds;

Continue Reading ››

 Posted on July 07, 2016 in Divorce

All divorces are legally and emotionally complex, but high asset divorces are exceedingly so. This is due, in part, to the separation, valuation, and distribution of high value assets, but there are often other factors at play as well. Maybe the earning potential of one spouse is much lower than the other. Or maybe the assets came from a family owned business that may placed at risk during divorce. Whatever the reasons may be for the anxiety you feel about about the future, careful and effective preparation can help ease some of the burden.

Always Prepare for the Worst

In divorce, emotions are often high and may fluctuate several times throughout any given day, week, or month. Old wounds or arguments can be unearthed or rehashed. New issues can arise. In short, even an amicable divorce can quickly turn contentious, and sometimes without notice. For this reason, you should always hope for the best and then plan for the worst in a high asset divorce. Hire a high quality divorce attorney, try to avoid giving into the desire to "win" your divorce, and be ready to disengage if you sense an argument brewing or your spouse becomes combative. If necessary, limit contact to avoid unnecessary arguments.

Continue Reading ››

 Posted on June 20, 2016 in Divorce

Divorcing couples with a reasonable sum of assets and money usually want to ensure they receive their fair share. Unfortunately, obtaining that fair share is not always an easy task. For some, the division of assets is a long, drawn-out battle, with each party arguing over what he or she is entitled to have or keep. For others, there could be deceptive practices like asset hiding or transferring that is meant to rob the other party of his or her fair share. Regardless of the situation, arguing over assets carries a number of possible risks for all involved.

Losing Assets or Money You May Have Been Owed

Most people realize that settling before every possible factor, condition, and offer has been considered may result in the loss of assets or monies they might have otherwise been owed. However, few fully understand just how significant and far-reaching the impact of an early settlement can be. If, for example, you have been a stay-at-home parent for the last several years, you may struggle to find employment that offers a salary comparable to what you would have made, had you stayed in the workforce. This, paired with possible child-care costs and single-income household expenses, could affect your life for many years after the divorce is complete.

Continue Reading ››

 Posted on June 15, 2016 in Divorce

With nearly one million divorces occurring in America each year, one would think that the stigma surrounding the decision to end a marriage had dissipated-or, at the very least, waned over the years. Unfortunately, recent studies indicate that nothing could be further from the truth. In some cases, this could deter some couples from pursuing divorce, despite knowing that it is in their best interest. In the worst of circumstances, the fear of becoming an outcast and lack of support could keep victims in a dangerous marriage. Then, of course, there are those who do go through with divorce and must pick up the pieces alone. Suffice it to say that, the effects of this stigma can be detrimental to society.

Stigma Affects the Religious and Non-Religious Alike

Initially, it would make more sense to assume that the stigma surrounding divorce would only affect those who are religiously affiliated. However, a study on 11 female participants found that even non-religious individuals feel the effects of divorce stigmas. These women, who are often met with a higher social expectation to marry and have children, reported feelings of failure. They admitted to being fearful of talking to their family, friends, and co-workers about the divorce, for fear that they might face judgement for the "failure" of their marriage.

Continue Reading ››

 Posted on June 13, 2016 in Divorce

Divorce can take much longer than most people anticipate; however, high net worth divorces can take much longer. The division of assets and property and determination of spousal maintenance are extremely difficult to sort out, even in marriages among those with very little to divide. The more there is to divide, the higher the couple's income, the more complex the process becomes.

Case in point: a cancer treatment founder has been in the process of divorce for seven years now and is not even close to being completed, despite there being a valid prenuptial agreement. Therefore, if you are planning on a divorce and have a high value estate or expect there to be arguments over the division of property, assets, and determination of spousal maintenance, be prepared for a potentially lengthy process and know how to ensure you are effectively represented.

Know the Value of Estate, Income and Assets

While not all spouses hide money, the National Endowment for Financial Education found that approximately 31 percent of Americans are deceptive about money in one form or another. The deception could be as simple as a hidden bank account, a secret credit card, or a stash of hidden cash. It could be as complex and difficult to track as an offshore account. Or it could fall somewhere in the middle, which could include anything from lying about how much the house or the vehicles are worth or being elusive about how much money is coming in each month.

Continue Reading ››

 Posted on June 06, 2016 in Alimony

The subject of alimony (spousal maintenance) can be a touchy one for couples entering the divorce process. It is common for a spouse to request alimony following the dissolution of marriage, but the definition and parameters of alimony can vary and are sometimes difficult to determine. This is often due to differing opinions and disagreements between spouses when it comes time to settle the details.

The purpose of spousal maintenance is to arrange and guarantee financial support for one spouse-provided by the other-to prevent any financial difficulties after the divorce. The spouse who earns less is given a monthly payment from the higher earning spouse to account for regular living expenses and necessities.

The Roles of Mediators and Attorneys

If you and your spouse have decided to divorce, then it is time to make alimony arrangements. Yet where do you start? First, you will need to consult with an attorney. Lawyers and Mediators are trained to break down the legal aspects of the negotiation process for you. They will not only explain the process and technical details, they will also assist in determining the correct amount you should receive, answer any questions you might have, and guide you in a way that protects your best interests from start to finish. Mediation is an efficient process with proven success rates. Moreover, mediation facilitates communication and negotiation between both parties and helps them reach a mutual agreement.

Continue Reading ››