No longer reserved for the rich, prenuptial agreements are becoming common place as long-standing taboos fall by the wayside. Increasingly, the happily engaged and newly wed understand the importance of having a road map should their marriage dissolve, based not necessarily on what the happy couple has at the time of the marriage, but what they may acquire during the marriage.
In my last article, I listed several reasons newlywed couples may enter into a prenuptial agreement. We ended that article asking, “So what should you do to “bulletproof” your prenup?”
Some may find their betrothed may not view the idea of a prenuptial agreement in such a favorable light. So, for starters, when broaching the issue, remember that a little finesse goes a long way. Of course, be honest with your partner about the reasons for seeking such an agreement, but avoid presenting it in a manner that leaves them with the impression that you are planning an exit strategy before the vows are even exchanged. Indeed, there have been times where a poorly-planned or ill-proposed prenuptial agreement derailed the wedding entirely.
{5:01 minutes to read} In our first article we discussed: 1) what divorcing parents of a child with special needs should know about structuring a settlement agreement; 2) how a Supplemental Needs Trust needs to be addressed in the Agreement to ensure that the child with special needs maintains eligibility for government benefits; and 3) how child support needs to be earmarked, allocated and ordered into the Supplemental Needs Trust to ensure continued government benefits.
In Part 2, we examine the effects of decision making within the agreement, maximizing medical benefits and planning for the transition from school into adulthood. (more…)
When our firm handles a divorce, we reference the client’s Last Will and Testament in the Divorce Settlement Agreement.
During divorce, many people worry about how their property will be distributed between them and their spouse at the end of the divorce. However, few consider how their property will be distributed in the event of their death before the divorce is finalized. There are two questions that everyone going through a divorce should be considering, but rarely do:
{3:05 minutes to read} When the news broke this past summer that AshleyMadison.com had been hacked, leaking the names and identifying information of approximately 37 million users, there were more than a few jittery spouses.
The scandal attracted wide media coverage and rampant speculation about the effect that the leak would have on marriages of the subscribers. However, for all of the media hype, while the revelation that one’s spouse has been cheating is reason enough to seek a divorce, a spouse’s infidelity has little, if any, bearing on the actual divorce process. (more…)
{2:45 minutes to read} If you’re going through a divorce, it’s probably best to start with the presumption that anything you tweet, post, upload, chat about, or otherwise place in the universe of social media can and will be used against you by your spouse and their attorneys. So tread cautiously and be mindful of this problem that comes with getting divorced in the twenty-first century.
Consider the following two scenarios:
{5 minutes to read} If your business partner is going through a divorce, their spouse may be entitled to compensation for direct or indirect contributions to the business.
The divorcing spouse has the right to argue that their direct and indirect contributions to the business attributed to its growth and success, if they can prove it. However, before even getting to the point where a judge determines whether the spouse made such contributions, the spouse will want to find out how much the business is worth—so that he or she knows what is at stake and whether it is worth fighting for. (more…)
It’s a cliché, admittedly. But the old adage that “an ounce of prevention is worth a pound of cure” rings particularly true when it comes to divorce. Even if an individual has the best of intentions, with emotions running high, one misstep, and what otherwise could have been a very simple matter, spirals out of control.
It is for this very reason that our firm views the initial consultation as an essential part of the process. We firmly believe that if we get to know our clients and what they hope to achieve, we can avoid many of the pitfalls that often hold parting spouses captive to litigation.
The settlement conference presents an important opportunity for you and your spouse to settle your differences, financial and otherwise, without the need to set foot in a courtroom.
The following are 7 tips for a successful settlement conference:
Divorce has many costs, not the least of which are the counsel fees incurred by the parties, a cost which often weighs heavily on the litigant’s mind. As such, clients often ask whether their spouse could be directed to contribute to their legal fees or, conversely, if it’s the spouse with the greater financial resources, whether they can be directed to pay their spouses legal fees. The answer is not always so cut and dry.
In New York, there is a rebuttable presumption that the wealthier or more monied spouse should pay the less monied spouse’s legal counsel fees to level the playing field and ensure that both spouses are on equal footing in terms of representation. (more…)
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As divorce attorneys, sometimes we don’t know what we don’t know.
Our clients can sign the agreement, which has all of the traditional language. We may think we provided for each and every need of the child – their basic support, add-on activities, extra-curricular programs, perhaps a special school – but the question remains: What must we also consider when planning for a child with special needs? (more…)
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The generation that transformed our social conscience and brought us the sexual revolution continues to rewrite the playbook when it comes to love, marriage and divorce in the golden years.
While divorce among older couples was almost unthinkable until fairly recently, baby boomers are increasingly divorcing in their golden years after decades-long marriages. It’s a paradigm shift from generations past. (more…)
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