Saunders Law GroupSaunders Law Group2024-02-13T21:05:39Zhttps://www.saunders-law.com/feed/atom/WordPress/wp-content/uploads/sites/1303396/2020/04/cropped-apple-touch-icon-32x32.pngOn Behalf of Saunders Law Grouphttps://www.saunders-law.com/?p=481832023-04-28T21:37:33Z2023-04-28T21:37:33ZHow can a prenup help your marriage?
Creating a prenuptial agreement together can help you and your future spouse explore crucial discussions surrounding wealth and property before you marry. You can also use a prenup to help shield either of you from debt if you divorce.
In addition, a prenup can give both of you and your families peace of mind. For instance, adult children of older people often have qualms about divorce, property separation and estate planning when a parent remarries later in life. Using a prenuptial agreement can help assuage these concerns.
What are the financial advantages?
Florida's laws regarding marital property mean that most of the assets you obtain during your marriage are subject to equitable division if you seek a divorce. Furthermore, the property you owned before marriage can sometimes become comingled, and ownership can be complex to determine. You can protect your property by creating a prenuptial agreement that defines certain assets as separate. This can be helpful for high-income individuals who want to safeguard their earnings and savings. It can also help you protect invaluable generational property, including businesses and real estate holdings, you intend to keep in the family.
Creating a prenuptial agreement with your future spouse can help you shield your property from divorce while providing peace of mind.]]>On Behalf of Saunders Law Grouphttps://www.saunders-law.com/?p=481752023-04-11T19:35:49Z2023-04-11T19:35:49ZCell phone communication
Children are growing up in a digital age with elementary-age children carrying smartphones. If you have children with smartphones of their own, address the phone use for parental communication in the parenting plan. Specify when non-custodial parents can contact the children through phone calls and texting. The key is to encourage open communication without interfering with quality time with the other parent.
Video call scheduling
Especially for younger children, video calls are beneficial when away from one parent. Visual contact helps young children feel connected. Schedule video calls for the children with each parent to maintain that connection.
Special contact provisions
Include provisions that address any special contact, including child-requested phone calls, birthday and holiday communications and more frequent calls during prolonged visitation periods. As children get older, special contact provisions can also allow older children to visit the other parent at will once they have their driver’s license and a car.
The more details you address in your parenting plan, even when it comes to contact between parents and children, the easier co-parenting becomes. Eliminate the uncertainties and any potential avenue for conflict by addressing these considerations while you draft your parenting plan.]]>On Behalf of Tom Saundershttps://www.saunders-law.com/?p=480702023-04-03T19:24:11Z2023-04-03T19:24:11Zchain of custody for admissible and valid results.
Understanding chain of custody
Chain of custody is a term used in relation to the whereabouts of a DNA sample taken by the court to establish paternity. Once officials collect the sample, they track each step, from beginning to end. This ensures that no one, at any step of the chain, may tamper with or alter the sample.
Chain of custody prevents sample swapping
Individuals who require a certain outcome of a DNA test to establish paternity may try to engage in sample swapping. This is one of the greatest advantages of the chain of custody since the sample remains secure at all times and prevents such tampering and is usually more reliable than home testing kits.
The role of the chain of custody in divorce proceedings
While the outcome of a DNA test inside a court setting does not guarantee that one individual will gain custody of a child or children, the chain of custody can support certain arguments and statements regarding whether one parent remained faithful to his or her partner during the marriage. The more protected a DNA sample is, the more secure the court can be in its results.
Those seeking a paternity test to strengthen their child custody case may want to secure a sample that undergoes the chain of custody to ensure viable results.]]>On Behalf of Tom Saundershttps://www.saunders-law.com/?p=480692023-03-16T15:05:26Z2023-03-16T15:05:26ZHow wealth brackets handle divorce
Business Insider discusses assets as a potential cause of friction within divorce. A popular divorce myth involves the idea that a couple with more assets will fight more than a couple with fewer assets due to the fact that they have more to lose.
However, one potential piece of evidence contrary to this is the fact that couples with over $5 million in assets actually have a higher rate of amiable divorce than any other wealth bracket.
By comparison, upper-middle-class couples do fight more than most other wealth brackets. However, considering they have fewer assets than those in the aforementioned upper-class wealth bracket, what does that say about assets and their impact on divorce arguments?
How financial views add to arguments
It is undeniable that assets do play a very big role in arguments surrounding divorce, both before and during the actual divorce process. However, it may have more to do with how people view their assets, rather than the assets on their own.
For example, upper-class couples typically feel more financially secure. This is why they have less reason to fight over assets. However, while upper-middle-class couples have more wealth than some, they do not have enough to feel financially secure, leading to more fights.
Of course, every divorce is different, however. What causes arguments for one couple may not stay the same for all.]]>On Behalf of Tom Saundershttps://www.saunders-law.com/?p=480682023-03-08T19:40:21Z2023-03-13T18:40:08ZPrenuptial agreements
Prenups are not always set in stone. Sometimes a court might choose not to enforce a prenup. For example, if you faced fraud or coercion in creating the prenup, the court can dismiss it. Additionally, prenups that favor one spouse over the other are often discounted. Finally, if you were unaware of your spouse's financial status when you signed the prenup, you can also try to dismiss it.
Valuation
While state law does not require it, having your assets valued in a divorce is a good idea. The court needs the exact values of your real estate, businesses and personal items to create a fair settlement. While valuation is time-consuming and expensive, it is worth it.
You must know what to do next if you are ending a high-asset marriage. While the process is complex, it is the only option for moving on with your life.]]>On Behalf of Tom Saundershttps://www.saunders-law.com/?p=480672023-03-03T20:39:37Z2023-03-03T20:39:37Zdivorce financial advisor may be able to help with the following.
Placing a value on assets
Many conflicts in divorce arise over property division. A divorce financial advisor may have training that enables him or her to place a value on assets, including complex assets that may have values that are tough to determine. This helps increase the chances of a fair split.
Finding hidden assets
Working with a divorce financial advisor may also be a good idea if you think your ex is not being honest about his or her income or asset streams. The advisor may be able to rely on technology and other sources to find out if your suspicions have merit.
Having a financial advisor on your divorce team may also prove worthwhile if you plan to seek alimony, have concerns about retirement savings, or have questions about how divorce affects taxes.]]>On Behalf of Tom Saundershttps://www.saunders-law.com/?p=480662023-03-03T20:27:38Z2023-03-03T20:27:38Zequitable distribution.
Know the numbers
Before you tie the knot, note the balances in all your retirement accounts. These contributions are non-marital property. However, any interest you accrue and any contributions you make during your marriage are subject to distribution. You should also know the balance of your spouse’s retirement accounts before marriage and when you file for divorce. The amount in your spouse’s accounts could balance the amount in your accounts.
Negotiate
You can also offer your spouse other assets in exchange for keeping your retirement accounts intact. You may also purchase life insurance that names your spouse as the beneficiary, but it should be equal to what your spouse would receive in the divorce. Consider negotiating vehicles, artwork, your home or other valuable assets in exchange for your pension.
Learn about your plan
You should know how your retirement distributions will occur. For example, can you pull a lump sum or will you receive annuity-type payments? In addition, will your spouse receive payments even after your death? You may have the ability to negotiate split payments between you and your spouse when your retirement begins paying out, allowing you to keep your accounts untouched at the time of your divorce.
The key is to reduce your taxes and penalties, which are often significant when you pull money out prematurely. Some legal remedies, such as CDFAs if a judge forces you to split your retirement with your spouse.]]>On Behalf of Tom Saundershttps://www.saunders-law.com/?p=480652023-02-16T16:03:07Z2023-02-16T16:03:07Ztypes of alimony recognized in Florida and what state courts consider when deciding whether to award it to either party.
Types of alimony available in Florida
The state may award either party in a divorce bridge-the-gap or rehabilitative alimony. The former seeks to give one party time to transition into single life and lasts, at most, two years. The latter seeks to give a party time to develop, or redevelop, the professional or career skills he or she needs to become self-sufficient. Either party in a divorce may also receive a durational or permanent alimony award, with the duration of a durational award varying from case to case.
Factors that determine if an alimony award is appropriate
Courts may consider whether adultery took place in a marriage when deciding whether to make alimony awards. Some of the other factors that may come into play include how long the marriage lasted and whether the dependent party would be able to maintain the same standard of living to which he or she became accustomed without the help of a spouse.
If the court decides an alimony award is appropriate, it may order the paying spouse to make periodic payments, lump-sum payments or both.]]>On Behalf of Tom Saundershttps://www.saunders-law.com/?p=480642023-02-06T20:31:17Z2023-02-08T20:30:17Z36% of divorces. While any divorce comes with complications, couples that have built a life together for decades often face extra hurdles.
1. Asset division
While new couples starting out have limited assets, you likely have a house, investments, retirement savings, Social Security, and other assets. Divvying those up requires more consideration for people closer to retirement than graduating college. The financial side of divorce highly impacts older adults. Along with potentially fewer ways to earn income, dividing a nest egg may affect your lifestyle.
2. Beneficiary review
Divorce requires significant effort, which makes it easy for important items to get forgotten. One that often tops the list relates to life insurance. All of the years you have had a policy, your spouse was probably the beneficiary. While some divorced couples keep that the same, many want to ensure that children or other family members receive the funds.
3. Special savings
Couples who have already developed an estate plan may have set aside specific amounts of money to help children pay for college or a wedding. Although you will need to redo a personal estate plan after the divorce, ensure that any funds already allocated to your children stay out of the regular asset division.
Divorce requires careful consideration to ensure you and your former spouse receive an equitable settlement, especially in your later years.]]>On Behalf of Tom Saundershttps://www.saunders-law.com/?p=480632023-02-02T18:52:57Z2023-02-02T18:52:57ZFalse beliefs about mediators
Forbes discusses mediation as a potential way to avoid costly court battles. It also allows you and your spouse to have even more control over your divorce than you might have initially anticipated.
A mediator's job involves helping you and your partner reach an agreeable decision regarding all important divorce matters such as asset and debt division, child custody and support, spousal support and more.
Some people falsely believe that their job involves "fixing" a couple's relationship, but this is simply not true. Mediation in divorce is not at all the same as mediation in therapy when attempting to fix a failing marriage.
Mediators also do not have the same legal power as an arbitrator or judge, which means they cannot make legally binding decisions on behalf of a couple.
What mediators can do
In short, it is entirely up to you and your partner to work out an agreeable arrangement for your divorce. A mediator's primary abilities include providing feedback and suggestions from a unique third-party point of view.
They can also intervene in the event that arguments do happen, as they have training in de-escalation techniques. They will help ensure that every party has a chance to speak equally, too, and that no one feels talked over. In general, mediators are a great tool in divorce.]]>