The holidays can be one of the most stressful times of the year. People spend significant amounts of money on gifts for their relatives and prepare for elaborate holiday events. Unfortunately, the holidays are not ideal for all families, as many suffer from domestic violence almost every day, even on Christmas and New Year’s Day.
The American Association of Matrimonial Lawyers (AAML) was asked about prenuptial agreements, or prenups, in 2013, and almost two-thirds (63 percent) of those surveyed stated that they had seen a significant rise in their use in recent years, especially by women.
Many couples generally understand that when they divorce both their assets and their debts are divided equitably between them. Equity is not the same as equality; it is more related to fairness, which means that you may be asked to pay a debt that your spouse is not able to, because it will cause you less hardship. However, there are certain types of debt that must be handled in more specific ways, and it is important to understand what those may be.
During a divorce, asset division is almost always the most complex and fraught part of proceedings, if only because both spouses are very invested in fairness. However, the process can take on an even more personal bent if one of the marital assets is a spouse’s professional practice—as a doctor, dentist, attorney, and the like.
The holiday season has officially begun, and many shoppers have already decided what they are giving their loved ones this year. For some, however, welcoming a child into their home is the greatest gift of all.
During the long Thanksgiving weekend, families often have plans to spend time together—go bowling, shop at a local mall, eat at a restaurant, etc. Yet when a couple is divorced, there may be days when one parent desires to see his or her children but the children do not have the option to stay with him or her due to the divorced couple’s parenting plan.
Thanksgiving is just days away and many families are planning their festivities with extended family. Yet while these celebrations may be gleefully anticipated for some, recently divorced couples and those experiencing irreconcilable differences may not feel the same.
Statistics indicate that at least 20 percent of all first marriages end in divorce within the first five years. By 20 years, 48 percent of all first marriages dissolve. Even though many divorces are complex, there are alternatives to litigation. To make the divorce process more bearable, many couples seek mediation.
Once you have reached the decision to end your marriage, the real work must begin. You and your spouse will need to decide how to divide your property, how to make arrangement for your children, and how to adjust to your new post-divorce lives. Before you can get there, however, one of you will need to start the legal process of divorce by filing a petition for the dissolution of marriage at the county courthouse. Many clients approach us with questions about this, often wondering how important it is to be the one who file for divorce and whether it makes any difference at all.
Forty years ago, 8 in 10 people were married by the age of 30. Last year, that same number applied to people getting married at the age of 45.
In today’s world, millennials often postpone marriage until they are financially secure. Moreover, during their marriage planning process, they are more likely to protect their assets by establishing a prenuptial agreement in the event of a divorce.