Divorce: Who Gets What Asset?

Dividing the family’s property during divorce can be quite difficult, especially if there are significant assets such as houses, rental property, retirement and pension plans, stock options, restricted stock, deferred compensation, brokerage accounts, closely-held businesses, professional practices and licenses, etc. Deciding who should get what can be quite a challenge, even under the most amenable of situations. But, if your divorce is contentious, then this can be especially complicated.

Continue reading

Workers’ Compensation & Family Law: The Connection

It would seem that there wouldn’t be much of a connection between a workers’ compensation claim and proceedings in family court. Unfortunately, though, the two are far too often tied together. When a primary breadwinner is injured at work, it can have a dramatic impact on his or her family, whether or not there is discord or divorce. Here are the most common family law issues that arise in workers’ compensation proceedings. Continue reading

Sign Here, Initial Here: Ambiguous Contracts

Have you ever read a confusing contract and scratched your head? Whether it is a lease, operating agreement, or other contract, it is imperative to understand what you want. It is also important to negotiate and draft agreements quickly to avoid losing opportunities. Failure to clearly say what you mean can result in unexpected costs, disputes and lawsuits.

Continue reading

Is Your Divorce Ready for Court?

For most people, the simple act of filing or being asked for a divorce is excruciatingly painful. As a consequence, most parties to a divorce try to keep things as amicable as possible, so that the whole matter can be resolved without going to trial. But what if all your best efforts to avoid that don’t work. What if you can’t find mutually beneficial solutions to difficult issues and have to ask the court to resolve matters for you? Are you prepared for your day in divorce court? If you have to go to court, the more you know and understand about the process in advance, the less stressful it will be and the more effectively you’ll be able to participate. Continue reading

How Your Credit Score Matters During Divorce

Lawyers and litigants alike have long understood the importance of maintaining a good credit rating before, during, and after the divorce. As the parties, particularly one who has not had significant employment during the marriage know, a positive credit rating is critical to establish a new residence, purchase vehicles, and start a new, single life. Often however, the actions of one party can have the effect of damaging irreparably the credit rating of the other. Continue reading

Divorce- Do You Lose Your Inheritance?

A common plan among our married clients is to leave their property to their spouse, either outright or in trust – oft-referred to as the “I Love You” Will.

Sometimes, love is lost and the couple divorces. We recommend our clients update their Wills after any life-changing event, including divorce. But what happens if the client does not, and the Will in existence at the time of death leaves everything to his or her (now-ex) spouse? Continue reading

How Divorce Can Affect Your Tax Filing Status

 

Are you currently undergoing divorce?

If your divorce will not be finalized until 2016, you have 3 options: married filing jointly, married filing separately, and if you qualify, head of household. Continue reading

Bankruptcy and Divorce

Bankruptcy is the legal process by which the debt of the party filing for bankruptcy is discharged, thereby absolving a party of a portion of their debt. Unfortunately, the bankruptcy process is not as simple as it sounds, and it can be further complicated when the parties—or an individual—are in the middle of a divorce or considering a divorce. Continue reading

How Is Equity Determined in a Divorce?

In many situations, the family home is the most valuable asset in a divorce. It is common for spouses not to agree on how to treat this asset that they both may have been paying for during a number of years. However, determining the equity of a home is a vital component to reaching a final divorce settlement.

Options Regarding House

Continue reading