Mistakes To Avoid When Going Through A High Asset Divorce

high asset divorce

High asset divorces attract a lot of attention as they involve a lot of money. When you are going through the process, you need to do everything right to avoid problems. To help you out, here are some of the mistakes you should avoid when going through a high asset divorce:

Failing to organize your assets

When most people are going through a divorce, and there are a lot of assets involved, the first thing that comes to their mind is how they can shuffle ownership, hide, or even liquefy the assets so that they don’t lose them. This is wrong.

Remember that your credibility is of great importance in the court of law and when the judge realizes that you are lying, you will be in trouble.

Instead of thinking of how you will hide the assets, you should think of how to organize the assets. If there are a lot of assets involved, consider hiring a forensic expert to help you in creating an inventory.

Failure to think long-term

Although, a given asset might be valuable at the moment, it doesn’t mean that it will be the case in a decade’s time. Many assets such as real estate properties, while very lucrative, tend to attract huge taxes and even debts which can be an expense in the later years.

Before you start fighting, sit down with your accountant and determine how valuable the asset will be in the coming years.

Rushing the divorce process

Divorce is very emotional, and many people want to rush through it so that they can forget about it. If you don’t have a lot to lose, you can rush it through, but when there is a lot at stake, you should take things slowly.

You should consult your family lawyer so that you can come up with good parting strategies. You also should carefully discuss alimony, child support, child custody, and any other pertinent issues.

Hiring the wrong divorce attorney

It’s stupid to go through the divorce process alone—you should hire a divorce attorney who will not only advise you on what to do, but also maintain communication with your former spouse especially if you aren’t in good terms.

Conclusion

These are some of the mistakes you should avoid making when going through divorce. To have an easy time, work with a reputable and experienced divorce lawyer.

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Child Support Lawyer: Everything You Need To Know About Child Support.

child support lawyer

When you divorce your partner, and there are children involved, you have to provide child support. In Virginia, you are supposed to pay child support until the child reaches 18 years. Sometimes you have to pay for a longer time if the child is still in school or unemployed and has to rely on you for support.

To ensure that you don’t pay more than you are capable of, you should arm yourself with a child support lawyer who will present your case in court.

Factors considered in deciding the support amount

For the court to arrive at a value of child custody that you should pay, it pays attention to many factors. Some of these factors include:

Payments to other family members: If you are paying money to the other family members, you will pay just a small amount and vice versa.

Custody arrangements: Who is having custody of the children? Of course, you should expect that the parent having custody of the children be required to pay less as he/she will be spending more time with the child.

Amount of income: Here the court takes a look at the amount of money that both of you have. If you have more, you should expect to pay more as you have more muscle.

Special needs: Does the child have any special needs? A child with the requirements will require more money; therefore, you should expect to pay more. You should note that the needs can be emotional, medical, or physical.

Standard of living: This is how well you were living before the divorce. For the comfort of the children, the court will ask you to pay an amount that will maintain the child in the same living conditions as before.

Things you should know about child support

One of the things you should note about child support is that it isn’t fixed—you can change it. When the court makes a ruling on the amount that you should pay, you shouldn’t shut up and continue paying the amount even if you are uncomfortable with it.

You should work with your family lawyer and present a petition in court. You also should present the issue in court if your financial situation has changed. For example, if you are unemployed or you just got another child.

Conclusion

This is what you need to know about child support. As mentioned, to avoid paying an amount that you aren’t comfortable with, work with a reputable divorce lawyer.

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Family Lawyer: Understanding Legal Coaching

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Legal coaching is a practice where you work with an experienced family lawyer who coaches you on how to properly represent yourself in a family court. The lawyer doesn’t represent you—he/she simply helps you to navigate the family law process.

When you have a sitting with the lawyer, you stand to gain a lot. Here are some of the ways in which a legal coach can help you:

Information on the legal system

It can be intimidating navigating the courts especially if you have never done it before. There are plenty of steps you need to follow, many forms to fill, among many other things. The lawyer you hire will guide you on what you should watch out when in the courts.

The professional will also guide you on the necessary forms you need to fill to ensure that the process is flawless. A good attorney will also help you in filling the forms.

Help you in managing your expectations

There are two ways in which the judge can rule your case. He/she can rule in or against your favor. The divorce lawyer you hire will carefully go through the case weighing in the evidence that you have and help you on what you should expect.

Help in identifying the strong and weak points of your case

During the analysis of the case, the attorney you hire will work at identifying the weak and strong points in your case. The professional will also help you in determining any loopholes that you can use to win your case.

Having a weakness isn’t wrong. When you work with the right professional, you will be able to turn your weakness into a strength. For example, the lawyer can coach you on how to respond to an argument strongly so that you have high chances of getting a fair outcome.

Help you in making a good impression

If you have made a public presentation you know that how you present yourself is as important as the facts that you have. In addition to having a good argument, you also should represent yourself adequately.

The family attorney you hire will coach you on what you should wear, how to speak to the judge, how to state your facts, and many other things that will help your case.

Conclusion

These are some of the ways in which legal coaching can be of help to you. When looking for a coach, look for someone who is an expert in a given area. For example, if going through a child custody case, work with an experienced child custody attorney.

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Child Custody Lawyer: Understanding Child Custody

child custody lawyer

If you have divorced with your partner and children are involved, you need to think about who is going to have custody of them. To avoid long and annoying battles in court, work with your child custody attorney and reach an agreement on who will have custody of the children. It’s only when you have failed to reach an agreement that you should head to court.

Factors that the court puts into consideration when making the decision

When you drag each other to court, you leave for the court to make the decision on who will have custody of the children. The factors that the court puts into consideration include:

The better parent standard: Who is the better parent between the two of you? This will depend on the parent who provides for the children, who is always there for the children, and many other things. As you might have guessed, the judge makes a ruling that favors the parent who looks the best in the eyes of the court.

Court etiquette: While this might seem like a minor factor, the judge will pay a lot of attention on how you present yourself in court. The court will consider how you dress, how you speak, how early you arrive and many other things.

Due to this, it’s imperative that you are smart all the time, carry yourself with a good attitude, and arrive early in court.

Communication: This is how ready you are to speak with your former spouse and work at getting a solution that is for the best of the child. The court will take time to understand who is ready to work with the other to make the life of the child better.

To make yourself more attractive, work with your divorce lawyer and open the lines of communication.

Child’s best interest: The judge aims to ensure that the child gets the best thus he/she will make a ruling that will favor the child.

How to win a child custody case

As mentioned, the court will make a ruling depending on how well you represent yourself in court. Due to this, you should work with your family lawyer and ensure that you present your best foot forward.

When you are in court, you should be clean and professional. You also should remain cordial with your former spouse. This calls for you to avoid arguments and heated debates that might give you a bad look.

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Myths About Drafting And Reviewing Prenuptial Agreements

drafting and reviewing prenuptial agreements

Just like other things in life, prenuptial agreements have their fair share of myths. Here are some of these myths:

The agreements are for the rich

If you ask many people why they haven’t undertaken the drafting and reviewing prenuptial agreements, they will tell you that it’s because they think it’s only done by the rich. There is nothing that is further from the truth than this. You don’t have to own considerable properties to sign the agreements.

In addition to the agreements protecting your property, they also provide guidance on what should happen in the event you divorce, or you are no longer there. For example, you can state in the agreement who you want to include in the family—if you have children from the previous marriage.

Due to this, you don’t have to wait until you are wealthy for you to draft the agreement.

The agreements are essential when you divorce

As mentioned above, you not only specify how you will share your property in the event of a divorce, you also include your wishes in the prenuptial agreements. For example, when you give information on how you want a specific property to be used after your death, you don’t have to wait until your divorce for this to happen. When you die, the property will be used according to your wishes.

You can also work with your family lawyer and include information on how you will handle your money during your marriage, which comes in handy in preventing issues in the future.

The agreements jinx the marriage

Even marriages without prenuptial agreements come apart. The success of your marriage depends on how you treat each other; therefore, it has nothing to do with the fact that you drafted the agreement.

In fact, divorce experts show that couples that draft the agreements stay together. This is usually due to the fact that they are able to communicate better and handle their finances better.

The agreements aren’t upheld by the court

If you had drafted the agreement properly and followed the laid up procedures, there is no reason why the court can’t enforce the contract.

While this is the case, you should note that the court can fail to uphold the agreement if you don’t follow the given instructions. This calls for you to carefully work with your divorce lawyer and ensure that you follow all the instructions.

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Spousal Support Lawyer: Understanding Spousal Support

When your marriage is over, you will have to pay spousal support to your former spouse. You can go to court and let the court decide for you the amount that you have to pay, or you can have a sitting with the divorce lawyer and your spouse and reach an agreement. If this is the first time you are facing divorce, here are some of the things you should know about spousal support:

Many factors are considered in coming up with the exact amount

When you go to court, the judge doesn’t come up with an abstract number of the amount that you should pay as alimony—he/she pays attention to many factors. Some of these factors include: age, emotional state, physical condition, and financial condition. Of course, the longer your relationship was, the more you will have to pay as alimony.

You should note that unlike before when the men were the ones that were required to pay alimony, now the high earning partner is the one who is required to pay the amount. This means that either the man or woman can be asked to pay the amount.

There are many types of alimony

If you have never gone through a divorce before, you might have the impression that all alimonies are the same. Far from this. There are primarily four types of maintenance that you will face. These are: permanent, temporary, rehabilitative, and reimbursement spousal support.

Temporary alimony is given to one spouse (usually the woman) before the divorce process is over. Rehabilitative alimony is given to the spouse who is earning less money. If you are asked to pay the amount, you have to do it until the spouse becomes sell sufficient.

Permanent spousal support is given the lesser earning spouse until death. This is usually given to the spouse who doesn’t have employable skills or had dedicated his/her life towards taking care of the home.

Finally, reimbursement alimony is given as a reimbursement for the expenses that a spouse incurred during the time of the marriage. You should work with your family lawyer and settle on the one that is ideal for your situation.

Conclusion

This is what you need to know about spousal support. To avoid long battles in court, you should have a sitting with your spousal support lawyer and agree on an amount that you can comfortably pay to your ex-spouse.

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Tips To Consider When Drafting And Reviewing Prenuptial Agreements

drafting and reviewing prenuptial agreementsWhen you are getting married, you shouldn’t simply go ahead with it. Remember that the current divorce rate is 50% thus you should protect your yourself from losing money in the event you divorce by drafting and reviewing prenuptial agreements. When writing the document, you need to consider a number of tips that include:

Discuss beforehand

Some people make the mistake of presenting the prenups a few weeks before the wedding day, but this shouldn’t be you. Remember that when you do this, you might provoke your future spouse to be hostile as he/she might have the impression that you are trying to deny them access to your money or you don’t trust them.

To avoid this, you should start discussing the prenup early on in the relationship. During your discussions, you should be clear of what you are looking to achieve from the prenup. If you are looking to separate the family property from yours, let your partner know about it.

Include all the necessary information

Just as some people delay in speaking with their partners about the writing of the prenuptial agreements, others make the mistake of failing to include all the necessary information in the document which results to issues. To avoid problems in the future, include all the information. The must-have information in your prenup include:

Property ownership: This is the property that you own. You should mention all the houses that you have and any other that you own jointly with other people.

Pension: Your pension determines the quality of your life later on. If you are marrying late or for the second time, it’s wise that you protect it so that you don’t suffer. You should work with your family lawyer and your spouse and agree on the amount that you are looking to separate in the event of a split.

Death: Death is a common occurrence, and it’s important to include it in the prenup. Here you should specify who should get what when you die. You also should specify what should happen to your businesses and houses when you leave earth.

Conclusion

These are tips to consider when drafting a prenuptial agreement. As mentioned, to avoid offending your partner, start the negotiations early enough. To have an easy time, work with an experienced divorce lawyer who will not only help you in drafting the document, but also guide you on what you should include and what you shouldn’t.

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Child Custody Lawyer: Things That Can Jeopardize Your Child Custody Case

child custody lawyer

When you divorce with your spouse, the last thing you want is keeping on meeting them. To cut all the communications with their former spouses, most people, work with their child custody attorney and try to get sole custody of their children. While some of them are successful, some fail due to many reasons.

Things can get you denied child custody

Your previous records: Have you ever been arrested before due to a simple thing such as DUI? Your former spouse can present it in court and use it to get your denied child custody. Your spouse together with his/her lawyer can use the arrest records to show that you are an irresponsible parent and you can’t be trusted.

Disobedience of temporary custody orders: Before the court gives issues a court order on who should have custody of the children, it often gives a temporary custody order. The court can order that both parents have custody of the children or give custody to one parent.

If the court has ruled that you share responsibility and you disobey the orders, you can be denied child custody. Most people make the mistake of returning the child out of the specified time. The parents with the custody of the child also move out without notifying the court, which is wrong.

If you do any of this, your former spouse, together with his/her divorce lawyer can use your record to show that you don’t respect the court order which will have a negative impact on your side.

Refusing to co-parent: As mentioned, above, when most people go to court, they want to be given sole custody of their children. For the betterment of the children, most courts are on the opinion that the parent should undertake co-parenting. This is where the parents share custody. If you insist that you don’t want co-parenting, the court can deny your application.

Tips on how to have a successful child custody case

The first thing you should do is to arm yourself with an experienced family lawyer. This is a professional who will guide you in your divorce journey. The professional will also bring you and your former spouse into agreement so that you avoid airing your dirty linen in public.

If you find yourself in court, you should honor all the court orders regardless of how minor they are. If the court orders you to have access to your child for only two hours a day, do so.

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Divorce Lawyer: Tips To Consider When Going Through Divorce

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Divorce is an emotional affair, and you need to be cautious when going through it. Due to the emotions involved in it, many people make plenty of mistakes that tend to jeopardize the process. To be on the safe side, you should consider a number of tips when going through the process.

Tips to consider when going through divorce

Have a lawyer: One of the things you should do is to hire a divorce lawyer. This is a professional who will provide you with the guidance you need to go through the process. The professional will also act as a mediator between you and your former spouse. To save money, it’s recommended that you solve the divorce issue without going to the courts.

If you are still on talking terms with your former spouse, the lawyer will mediate the talks so that the divorce process can be flawless. In the event you have no way out other than to drag each other to court, the professional will represent you there.

Avoid hiding property: If you have gone through the divorce before, you know that you have to split the things that you obtained together during your marriage. To avoid sharing the property, some people try hiding them. This is wrong.

While you might get away with it, you will be in for a lot of trouble when the court knows about it. When the court knows that you are lying, your integrity will be jeopardized which will see you being on the wrong side of the law. To be on the safe side, put everything on the table.

Put your emotions in check: As mentioned, divorce is a highly emotional affair, and this can see you doing things that you never imagined you can do. For example, you can call your former spouse bad names. You can also try hurting her/him. If you are still emotional about the break, you will be better off hiring a family lawyer to represent you in all the discussions with your former spouse.

Leave the kids out of it: If you have kids, you should avoid dragging them into the mess. If they are big, you can tell them what is happening, but if small, you should leave them out of it. While you should strive to keep them out of it, you should provide for their upkeep. This calls for you and your child support lawyer to come up with an amount that will keep the kids comfortable.

Conclusion

These are the tips you should put into place when you are going through the divorce. Avoid doing the wrong things, and you will have a smooth divorce process.

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High Asset Divorce Tips

Everyone wants to be rich. Unfortunately, studies show that many people in high asset marriages have a high divorce rate. It’s unknown why, but it’s predicted that it’s because people want to benefit from the tremendous assets. To have an easy time when going through a high asset divorce here are some of the tips that you should put into consideration:

Consider the liquidity of the assets

The liquidity is the ability of quickly converting the asset to cash. It’s common for people to share the assets when they are parting ways. While two assets might be having the same value on paper, they might not have the same liquidity. For example, you can easily convert stock shares to cash, but it’s impossible to do it with collectible materials and even real estates. For the better future of both of you, you should share both the liquid and non-liquid assets equally.

Consider the taxes

In addition to the liquidity of the assets, you also need to consider the taxes on the assets that you are sharing. Just like liquidity, two asset pieces of the same value might not have the same taxes. For example, a piece that you bought recently for $10,000 might have the same value with another than you bought several years ago at a cheaper price, but has appreciated over the years.

The piece that you recently bought will have a lower tax compared to the one that has over the years appreciated in value. Before you complete the divorce process, sit down with your former spouse and divorce lawyer and carefully evaluate the taxes imposed on the assets.

Put everything on the table

To avoid sharing, some people hide some of their assets. They do so by having hidden credit cards, secret accounts, and transferring their assets and money to friends and relatives. While some of the people get away with it, it can sometimes backfire putting you in a lot of problems. You should note that when you try to cheat the court and realizes it, it will deem you insincere thus everything you say won’t be believed in court.

Conclusion

These are some of the things you should know when you are going through a divorce with a lot of assets. When going through the process, you should have a budget in place. The money will cater for the family lawyer, transport expenses and many other things.

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