We Take Justice to Heart
Lady Justice Divorce understands how trying a divorce can become. We want to help you make the best choices, the right choices for you and the ones you love.
Through our online and in person services, we are committed to help you obtain the outcomes you want and need in order to move forward with your life plans and goals. Ideally, we would like to help you move through a peaceful and rational divorce process. Although this doesn’t always end up being the case, we will give you our very best so you can work towards a healthy, sustainable future.
Our priorities are your priorities.
The costs involved in ending a marriage can vary widely, depending on several factors. The average cost of a divorce in the United States is about $15,000 to $20,000. But the fees involved may be much steeper, reaching as high as $100,000 or more. The majority of cases are settled out of court, usually through mediation. These types of cases can average anything from $1,000 to $5,000 in legal fees.
Divorce proceedings can be costly for people looking to dissolve their marriage. There are essentially three significant factors that determine how expensive it will be: custody, support, and distribution. Custody refers to physical placement with one parent or another, which is often related to child support. Support is what one parent pays to the other for shelter, food, clothing, and the like. Distribution refers to how property is divided between the two parties; this does not consider marital debt, which should be addressed separately.
There are additional factors that may determine how much a person will pay when filing for divorce: the state in which you live when you file for divorce, your age when you file the petition in court, as well as your income level.
An uncontested divorce is a type of divorce where both parties agree on all the significant issues. Because there are no major issues, the process will be completed much more quickly and with less money spent than in a contested divorce.
An uncontested divorce indicates that spouses have successfully worked together to divide assets, share custody, and come up with a parenting schedule that works for everyone. Most importantly, they have been able to cooperate well enough not to require intervention by a judge or anyone else who’s going to tell them what has to happen after their marriage implodes.
The best way to bring down the cost of your divorce is to do everything possible to avoid a trial. There are other possibilities, though:
● Try mediation or collaborative litigation where couples work together rather than go through an adversarial system with lawyers arguing about their client’s rights.
● Uncontested divorce: This is an excellent option for those looking to avoid major issues and lower costs because they don’t need an attorney. The average price for an uncontested dissolution was only $4100, with the attorneys’ fee included. You may also want to consider whether or not there are specific requirements where you live which will allow couples access into the streamlined process known as “summary jurisdiction,” some states offer these options without any waiting periods at all.
● Consulting attorneys: If you can’t afford to hire a full-scope divorce attorney, it isn’t the end of your legal woes. You should still seek out legal advice or help at some point during proceedings, if only for protection against overreaching by one party in negotiations. You could achieve this by hiring consulting lawyers specializing in specific tasks to guide you through your case. Helping with forms filling (such as preparing responses), drafting settlement agreements/proposed orders that will be submitted into mediation then reviewed before finally getting representation once court appearances are necessary.
Divorce can be a difficult time for everyone involved, especially when it comes to the responsibility of paying legal fees. Flat rate billing makes things easier because clients only pay an agreed-upon amount upfront rather than getting billed on individual hours worked or case complexity. This lessens some financial concerns they may face during custody negotiations before their divorce proceedings begin, as well as avoiding any unpleasant surprises at settlement later down the line since you’re working under clear parameters from day one.
How to avoid dishonest law firms? Do your research! There may not always be sufficient information on websites or in short business profiles. Search online for reviews and testimonials to ensure that you connect with a reliable and honorable lawyer.
Many people don’t realize that you have to pay for the attorney’s costs and court costs. The two parties involved will sometimes share these costs, but it’s not uncommon that both will end up paying out-of-pocket entirely when going through mediation or litigation proceedings. Everyone’s situation is different, but the divorce court costs will typically range from $300 to over $3000.
The process of choosing a lawyer for your divorce can be overwhelming, and interviewing three is always wise. But what happens ring the interview? Well, it allows you to learn about their experience in this field, find out how much they charge and see if they have an idea for how your case will work out in court.
You wouldn’t want to find yourself in a courtroom with an ineffective lawyer. Here are some steps that can help ensure the best possible outcome for your case:
– Check if there are any cases of professional misconduct against them (these will typically show up on your State Bar Association’s website).
– How many years have they been practicing? Does their experience match your needs?
– Do they have any additional experience that relates to your case? (Custody, Financial, Family Law, etc.).
To start the divorce process, you will need to provide your attorney with as much information as possible. You can gather personal details and financial records and any property that either spouse may own in anticipation of separation or alimony payments like homes and cars. It is essential that you have a complete understanding of you and your spouse’s income, assets, and debts. The more detail you provide, the better!
Your information: full name, birth date, and social security number.
Contact information: home address, email address, phone number.
Proof of residency.
Name, phone number, and address of your employer.
Your annual salary and length of employment, at least three years of income tax returns.
Spouse’s information: full name, birth date, and social security number
Spouse’s contact information: home address, email address, phone number.
Employer information for your spouse: address and phone number.
Length of employment and salary information of your spouse.
Where would you prefer to serve your spouse with divorce papers?
The place and date that you were married.
The name of your spouse’s attorney.
Marital therapist’s name, as well as a record of dates/times of appointments.
If any of these marital problems led to your divorce, a list will need to be provided: infidelity, drug abuse, domestic abuse, religious differences, or sexual incompatibility.
If there are any children from the marriage: full name, social security number, and date of birth of each child.
Any current custody arrangements.
If there are children from previous marriages: full name, social security number, and date of birth of each child (from either side).
Child support details, if applicable: How much paid, how much received?
Who provides health insurance for any of the children born from this marriage?
Addresses of any properties that are owned jointly or separately.
The address of any mortgage companies that you have current accounts with.
The estimated market value of any homes owned.
If any mortgages, the current balance and amount of monthly payment.
Transportation: A list of any automobiles, motorcycles, airplanes, boats, or trailers owned jointly or separately. Please include the year, make, and model of each vehicle, who has possession.
The name and address of any lender who may hold the title to any of the items of personal transportation.
A list of any and all bank accounts (joint and separate), savings accounts, Credit Union accounts, CDs, Stocks, and Mutual Funds, or Savings Bonds.
The number of debit cards that you have for each account, as well as the names on each one.
Any credit card accounts held jointly or separately, the balance due, and the names on each account.
Information about any investment accounts, such as 401ks or Retirement Accounts.
Life insurance policies: who is insured on the policy and for how much?
Information about any money that you are owed: please include names of those who owe as well as how much and the expected payment date.
A list of any lawsuits that involve you.
A list of any livestock owned, if applicable.
The direction of your first meeting depends entirely on what is happening in the divorce case. Before your meeting, you should think about how much information you want to share with your lawyer and any questions that you may have for them. There are no right or wrong answers here – it’s essential that you feel comfortable with the person representing you. Try asking yourself these questions:
– Why have I chosen this particular attorney?
– What do I hope to accomplish from our conversation?
– What are my concerns as we begin this journey together?
The attorney will likely ask why you feel you need them and may want to know more about your case history. Listen intently and try not to be intimidated by the legal terms used. You must communicate openly with your lawyer, as they will develop a strategy best suited for your situation. After all, it is their responsibility as experts in this area of law to explain how things work.
You can rest easy knowing that your meeting with the divorce attorney is confidential. All communications are protected, and the client’s right to privacy remains absolute throughout this process.
Divorce is always a difficult and unpredictable time for everyone involved. It’s essential to be prepared and to address any issues that may come up. Prepare yourself to discuss custody agreements of any minor children, child support payments (and who pays them), alimony – whether it should be paid or not if there are concerns about dependent adults in your life after the divorce division of property and debts.
No. If you and your spouse have an amicable relationship, it’s not uncommon for one person to think that they could handle their own legal matters without a lawyer. An ethical prohibition bars lawyers from representing two people with conflicting interests in dispute who attempt mediation without the use of attorneys–the mediator being only able to assist rather than give legal advice or handle negotiations themselves.
Many states have a clinic or “legal aid” that offers free legal aid to those folks who can’t afford a lawyer. They often do divorces. If you have low income and are unable to afford a private attorney, check with your local bar association, city/county/state legal services program, state public defender’s office, or search online under “low-cost divorce.” You may also qualify for fee waivers from the court.
The Divorce Fee Waiver can be an option for people who cannot afford the cost of a lawyer. The requirements vary by jurisdiction and family income level – you’ll need proof if claiming waiver eligibility to get representation free, or nearly so!
Divorce Fee Waiver programs will typically require that you prove your income level and that your spouse can pay for their representation. The fee waiver will reimburse any attorney fees paid on your behalf up until all divorce proceedings are complete; this generally includes paperwork submission and appearances in court.
It’s essential to remember that there may be exceptions/limits to the program. Issues like; child custody or support, representing yourself in court, having assets over a specific value, and any other limitations set by your state.
In order to claim Divorce Fee Waiver eligibility for legal representation, you’ll need to contact the courthouse where you’re filing your action personally – or ask an attorney if they can help you file your case pro-bono (for free). If the Family Court cannot help find fee waiver representation, check out local Legal Aid offices. Many family law programs exist at the state level as well as across the county.
In addition, please remember that this is not an exhaustive list – but rather a guide to get you started. If you have any questions about fee waiver requirements or programs in your area, contact your local courthouse, lawyer’s office, or Legal Aid.
Yes, they do! A “pro bono” divorce attorney (or advocate) works for free, or for low cost, on behalf of someone who normally could not afford to hire him/her. It often refers to an attorney volunteering his/her services in special interest cases, such as divorces involving abuse.
You may qualify for a non-profit organization specializing in free legal aid if you meet their guidelines and your income is within their limit guidelines. Keep in mind that some organizations only provide services in certain states — so check with your local family law bar association or a legal aid society in your area to see if they offer this service.
Contact your state’s family law bar association to find out if there is a pro bono divorce organization in your area that takes cases via referral. Also, try contacting non-profit organizations listed under “Legal Aid” in your phone book directory or search online legal services directories.
This can be an uncomfortable situation, but clients and lawyers alike need to know that there are likely many reasons why your lawyer may take longer than usual to getting back in touch. Here are some of them:
-There aren’t any upcoming deadlines, and your attorney does not have any new information to report.
-Your attorney is taking care of other cases while they are busy with yours.
-Your attorney might not be communicating with you because of something going on in their personal life. Your legal counsel may need to take some time off from the job and focus only on family matters right now; this doesn’t mean they’ve forgotten you!
If you are concerned with your attorney’s silence, it is best to send a certified letter asking them for an explanation. If your attorney is unable to complete their task within a certain time frame, it is wise to request regular updates on the status of your case and establish a communication channel with your lawyer that works well for both of you.
Many factors outside an attorney’s control can affect how quickly or slowly a case moves forward (examples being court backlogs, other active cases involving either party).
Contingency fees usually have built-in time frames in which an attorney must complete their work. If, after reading through these possible reasons, you are still concerned about what is taking so long (and why), you should schedule a consultation with your attorney to discuss your concerns and get some answers.
It is easy to forget the time and effort that goes into a divorce. This is especially true when you are not satisfied with your attorney’s work but don’t know how or where else to start looking for another one. Here are five signs that might indicate to your current lawyer isn’t right for the job:
– You Have to Keep Asking Questions
While your attorney is working on your case, you should not have to keep asking them questions about the process. If you feel like you must continually follow up with them, likely, they aren’t keeping you informed of everything that is going on or don’t understand what you’re trying to accomplish in the proceedings.
– Your Lawyer Isn’t Returning Your Calls
If you feel like you constantly have to contact your lawyer and they never make an attempt to contact you, this could be a sign that they do not value your business or care about helping resolve your issues through legal means. You might consider looking for another representative who will value your case.
– Your Attorney Lacks The Expertise To Handle An Important Aspect Of Your Case
Every case is different. While you should hire a lawyer who specializes in your type of case, make sure they also have the specific knowledge and/or expertise to handle other important aspects of your proceedings as well.
– Your Lawyer Is Not Prepared For Court Or Case Meetings
Attorneys should be familiar with all the paperwork and documentation required for their cases before they go to court or meet with their clients. If your attorney seems unorganized or unprepared during these crucial meetings, then they may not be fully competent to properly represent you in court.
– You Are Not Happy With Their Level Of Service
If you feel like you aren’t receiving quality service from your attorney, regardless of what area(s) of their work you are not satisfied with, it may be time to shop around for a new representative.
You should consider looking for another representative if your current one fails to meet any of these signs. If your lawyer isn’t providing you with quality service or the amount of care and attention that you deserve, then it is likely time to change attorneys.
All parents, who are splitting up, want to protect their children. The best interests of children should always come first. If you and your spouse are unable to agree on how to share parenting time or custody, mediation may be an option for resolving the issue amicably rather than going through litigation, which can result in lengthy attorney’s fees as well as increased stress.
If you need to protect yourself and your family from alleged instances of spousal or child abuse, a court-ordered protection order may be instigated. Documented accounts will make it easier for an attorney to show that there was indeed violence in the relationship between both parties involved with making such claims.
When a marriage ends, the court will generally divide property depending on how much each spouse has contributed. Assets acquired after the marriage and before a separation might be considered separate property, as would gifts and any inheritances that are received by one spouse alone. The marital home is generally divided equally between spouses regardless of who purchased it or how much each contributed to its purchase price or upkeep. Debts are divided in proportion to the overall estate unless another allocation seems more equitable. In some cases, an unequal division may seem unfair but is deemed acceptable under the circumstances.
The division of property is often the most complicated aspect of a divorce because it can be difficult to determine who contributed what toward the acquisition or upkeep of property during the marriage, especially if spouses have not kept records or have made little attempt to maintain separate finances within the marital household. The law generally presumes that all property acquired during a marriage belongs equally to both spouses unless there is proof otherwise. Therefore, it may be necessary for one spouse to provide evidence that an item was purchased with his/her funds to establish ownership of that item following a divorce.
A matrimonial home is a place where you lived with your spouse during your marriage. It may be a house, an apartment, or a mobile home, depending on what kind of living situations are common in the area where you live. A matrimonial home can also include certain furnishings that are part of that property. There can be multiple matrimonial homes, such as timeshares, condos, and vacation homes.
A defined benefit pension plan is essentially a promise by your employer (usually through their pension trust) that they will pay you certain benefits upon retirement based on factors such as how long you worked for them and how much money you earned during your employment.
The value of a pension is difficult to calculate, so it requires the assistance of an actuary. Pensions are worth more than their contributions made, but they also change depending on how many years you plan for retirement and if your early termination will cost anything.
The pension you receive from your employer is governed by federal legislation. Additionally, each plan has its own set of terms and provisions, which often differ greatly from one another because they’re tailored to meet the needs of different types of employers or employees with unique situations.
When you receive your divorce decree, you will be required to disclose whether or not you have a defined benefit pension plan and, if so, whether or not it is vested. Vesting means that the pension has been earned based on time worked and/or money contributed. If the pension is vested, it will likely be divided equally between you and your ex-spouse through the separate property (or equitable division if there is disagreement). If the plan is not vested, however, this presents another problem since without full vesting, an employer has the right to change or even cancel the pension. Whether or not they can get away with that depends on whether or not state law considers pensions to be part of someone’s compensation package (and therefore marital assets affected by divorce).
A no-fault divorce takes place when one party claims to be the victim of irreconcilable differences. The term ‘irreconcilable differences’ simply means there was a problem (e.g., emotional or physical abuse) that couldn’t be resolved and eventually led to divorce.
The reasons for filing a no-fault divorce can be health, incompatibility, and irretrievable breakdown of the marriage. Health means you or your spouse cannot function together in daily life because of some kind of health issue (mental or physical). If one of you is not able to work, or only one of you is working and supporting the family, this can also be a reason for filing a no-fault divorce. Incompatibility simply means that despite your best efforts, the marriage was never going to work out due to differences between both of you. The final reason can be shown with an example: if after ten years, you have both realized that you are not compatible, and there is no chance of working on your differences or improving the situation, then an irretrievable breakdown could be granted for divorce.
No-fault divorce is a much simpler process than the traditional method of filing for it. Witnesses do not need to testify on behalf of one spouse, and instead, your marriage will be terminated based solely on irreconcilable differences or the breakdowns in communications leading up until its termination–depending on which state you live in.
A no-fault divorce can be filed by a spouse or an attorney. You or your lawyer will have to fill out a Petition for Dissolution of Marriage and any other paperwork required–this is the first step you’ll need to take before filing for divorce. Some states allow online forms, but it’s best to speak with an attorney first.
A collaborative divorce is an alternative dispute resolution that allows divorcing couples to settle their differences without going through the conflict and expense of formal litigation. In this type of divorce, each spouse hires their own attorney who works together with a retired judge or experienced private mediator to facilitate negotiations.
At any point during this process, either party can walk away from the table if they are unable to reach an agreement on one or more issues. But since both lawyers are also working towards a settlement that should be beneficial for both clients involved, collaborative law often leads to less arguing and more conclusions being reached in a shorter period than traditional litigation.
Collaborative law is a process that can help reduce the cost and time it takes to resolve family disputes. Even if you’re successful, in most cases, courts will still require your appearance, so they sign off on any agreements made during this process.
A litigated divorce is initiated by one spouse filing a petition with the court to end their marriage. The other party will get the opportunity to respond to the allegations made, and after this initial process, hearings may be scheduled based on the specifics of your case. The traditional model of a litigated divorce is the most common today.
Not always. There are several ways that a litigated divorce can either avoid or end up in court, depending on the situation of each case. Some common examples include:
Mediation – Many people today are choosing to go through mediation before trial instead of fighting their differences out in court. While you have the right to refuse attempts at resolving your disputes through mediation, this route could help you save time, money, and grief by working with your ex-spouse instead of against them.
Collaborative Law – Collaborative law, might not be the best option for everyone, but it does present an alternative to formal litigation, which can often have better results for both spouses since they’ll be sharing information and negotiating with each other instead of fighting it out in court.
Out-of-Court Agreement – An out-of-court agreement is when an ex-spouse makes an informal arrangement with the other party that doesn’t need to be put into place in front of a judge or jury. This is similar to mediation, but it’s not required in every state and doesn’t guarantee any potential legal protection if things go south later on.
A divorce coach is a Life Coach who focuses on the areas of separation, divorce, and life beyond. They empower you before, during, and after your split to make sound decisions for yourself with goals that will help set achievable future plans in place as well as deal gracefully through this major transition period without feeling alone or hopeless.
A Divorce Coach is different from the typical lawyer, therapist, and consultant. They provide a unique service that can help you through your divorce in an efficient manner while still maintaining emotional well-being for everyone involved.
Divorce Coaching empowers clients by helping them understand their options so they can be confident going forward no matter what happens at any point throughout proceedings.
Divorce can be an overwhelming process, and some lawyers have turned to divorce coaching as a way of better supporting their clients. Here are some ways that you can benefit from contacting a divorce coach:
– You will find out much information that you might not be aware of.
– You can learn much about your situation and your spouse’s case just by asking the right questions.
– A Coach Can Save you thousands in attorney fees because they can tell you how long it will take, what to expect, and what you need to do now so as not to pay penalties later.
– Divorce coaches are not biased towards any law firm, so they will be able to give equal time and attention to all parties involved in your co-parenting relationship.
– You may find out the answers you need before they become issues that cost you money or time in resolving them later on down the road.
– Divorce coaching brings closure for both of you, whether it is acrimonious or amicable, rather than just rushing into a lawsuit because he has had his attorney file documents on him automatically after waiting only 20 days (or whatever period most states have set).
– A divorce coach can provide emotional support during this extremely stressful time.
Divorce coaching is becoming more popular because it provides an efficient way to navigate the complicated waters of family law while maintaining emotional well-being. An attorney can provide you with solid advice about child custody or property division issues but not necessarily tell you how to handle this emotionally difficult time in your life. A coach helps their clients through this process by providing information on all areas of concern for divorcing couples, whether dividing assets or parenting differences.
Divorce lawyers and therapists help in assisting clients who are contemplating divorce. We will discuss a few of the key differences between the interactions a divorce attorney and therapist has with the client.
The business of a divorce lawyer is with legal issues and helping clients file for divorce. The primary role of the therapist, on the other hand, is to help people who are suffering from emotional discomfort as a result of marital problems. Most therapists provide therapy as means to reconcile marriages or help married couples achieve greater intimacy. In most cases, therapists recommend and conduct marriage counseling before a client can make an informed decision about divorce.
Lawyers and therapists provide services to distressed individuals, but they both use different approaches in helping their clients move forward in life after the emotional strain of a marital problem. In most cases, when you see a therapist for marital problems, your case is referred to by a lawyer when there is no hope for reconciliation or progress in the relationship.
A Consulting Attorney is a Lawyer that assists in the negotiations of divorce and helps you avoid conflict with your spouse, lawyer, or child support specialist. They can help educate you on all aspects of your divorce and child custody case, from what marital assets are available, how to fairly divide them up between you and your spouse, to assist in creating parenting plans based on your specific situation.
You can represent yourself in a divorce case and rely on your lawyer for non-legal aspects of the situation, but it is not typically recommended. It’s important to get some legal advice as far as what rights are at stake when negotiating an agreement with your spouse. If you are represented by a lawyer, they will be able to help you with everything, including the legal aspects of your divorce.
A consulting attorney will only look at specific aspects of your case, as directed by you and without getting in the way. If it seems like all divorce-related issues can get resolved with mutual cooperation from both parties, then this could be a good fit for what you need!
Depending on the circumstances in your case and how much time you spend with your coach, coaching fees can run anywhere from $200-400/hour. Of course, this doesn’t factor in what it would cost if legal counsel was involved, and many rates vary by location.
Typically attorneys charge anywhere between $100-$350+ per hour; we recommend hiring a divorce coach for anything you don’t feel comfortable handling yourself and having an attorney handle things like child custody or property division negotiations.
It is important to remember that in some cases (depending on state laws and specifics), you may not need either one of these professionals – this depends on which documents are filed with the court, how much work is done by each party without professional assistance, etc. However, both can provide excellent services if needed.
Each state has different rules when it comes to prenuptial agreements; if either one or both parties aren’t comfortable interpreting such laws, then they should hire an attorney who specializes in these types of cases (in fact, some states require each individual involved have their own lawyer review any proposed terms).
Divorce is one of the most complex types of litigation in family law. When you are going through the process of getting a divorce, it’s important to take into consideration how your finances will be affected. There are quite a few things to consider, including your assets and debts. You should also consider how you will share the costs of various expenses during the divorce process, which can be very expensive. You should also consider how you will share the costs of various expenses during the divorce process.
The financial records of an individual are often used to determine what kind of support payments should be made after divorce when there is no longer matrimony. These include things like child support and temporary alimony arrangements during the proceedings themselves; these also depend upon how long it took for them to get started (which can sometimes last over a year). It’s important not only for this reasoning but also because without appropriate documentation, it becomes increasingly challenging.
Creating a post-divorce budget is also an essential step to take before you can even think about settling your divorce with the court. You can do this by using spreadsheets, software, or pen and paper. A budget can be formatted differently depending on your needs, but in general, there are five things you should include:
1) Monthly income (gross income is best) 2) Expenses (include monthly cost of living expenses like housing/mortgage, car payments, child care costs if applicable, utilities, etc.) 3) Debt repayments (include any debts that need to be paid every month such as student loans, credit cards, etc.) 4) Savings (if you contribute to 401ks or other savings plans that allow you to defer taxes into the future. =ets after divorce. 5) Other income (such as rental property, dividends or any other income that does not come directly from your primary source of employment).
It’s important to list all sources of income and also all debtors. This will ensure that you are aware of all the money owed by you at the time. This way, it is easier to keep track and make sure that it is paid off promptly once the proceedings end; the court will also take into account if there are outstanding debts when deciding on child support and alimony payments during/after divorce. It’s best not to leave anything out because this may cause problems in finding accurate numbers for calculating costs.
Assumptions about the standard of living following a divorce should not only take into account housing, transportation, and childcare but also entertainment, retirement, healthcare, and all of the other components that make up everyday life.
Once the budget is finished, you will be able to see if your income can afford your lifestyle. It may be worth it to cut back on some luxuries that only seem like necessities; this way, you could save more money for child support and alimony payments. However, remember to include all expenses when determining whether or not your income can cover them.
Preparing accurate budgets for historical, temporary support, and post-divorce life can help level the playing field so that both parties are given a realistic view of their present as well as future. This increases rationality in decision making which is necessary when dealing with such complex issues like family law matters affecting finances during separation or divorce proceedings.
A prenuptial agreement is a written contract between two people who are planning on getting married. Couples should tailor this agreement to their unique situation. It’s important not to neglect the details and include all of those standards that will make sense for both parties involved in this contract, such as dividing up assets or debts after divorce is finalized. A prenuptial agreement can detail how assets will be divided in the case of divorce or separation and can outline certain rights relating to alimony (spousal support).
Engaged couples may want to consider signing a prenuptial agreement if they have substantial assets, significant debts or if one partner has children from another relationship. Child support, custody, and visitation issues can be part of this contract as well. It is essential that all parties disclose all finances to the other before signing a prenuptial agreement, and this document should be signed before the couple is married.
A prenuptial agreement is an opportunity to identify and prioritize your goals as a couple. You can then use it as a tool to negotiate those goals with each other, including:
· How you will divide and/or protect your property and assets during the marriage and in the event of divorce or death
· How you will handle debts and other financial obligations
· What type of custody arrangement to have if your children from a previous relationship are living with you during the marriage
· How much alimony, if any, must be provided should the need arise.
In addition, a prenuptial agreement may:
· Clearly identify and outline the rights and responsibilities of each spouse in terms of support for children from a previous relationship, should they live with the couple during the marriage
· Relegate all financial decisions to one party if so desired
The agreement can be amended or rescinded at any time. It is a good idea to have a family law attorney review this agreement before it is finalized.
If you are considering a prenuptial agreement, you should find an experienced family law attorney to represent your interests. Prenuptial agreements can be complicated, and the courts take them very seriously. You want to ensure that your interests are protected, and the terms of the agreement are fair.
If you or your significant other is unfamiliar with the rules in his/her state, it may be a good idea to hire an attorney. Some states require that each of you have a separate lawyer review this beforehand so that there are no discrepancies later when things start getting complicated.
A prenuptial agreement should not contain terms that:
· Relinquish control over personal assets such as cars, homes, and other items in your possession when you get married
· Relinquish ownership of property before the marriage (known as gift causa mortis) or after the marriage (gift causa nuptiae)
In addition, you should not include terms that:
· Relinquish your right to alimony in the event of a divorce or separation
It is important to remember that a prenuptial agreement cannot be used as the determining factor of any custody or visitation rights. You will need to consult with your attorney about what can and cannot be included in a prenuptial agreement.
All of the following requirements must be met for a prenuptial agreement to be valid and legally enforceable:
· The agreement was voluntarily signed by both parties. This means that it cannot be under duress or exchanged for other favors such as an increase in alimony, child support, or property settlement payments.
· Each party had the opportunity to consult with independent legal counsel about the terms of the agreement at least seven days before signing it unless they waived this right when consulting with their attorney. If one spouse failed to do this and later changed his/her mind about what he/she agreed upon, s/he may be able to nullify the prenup’s bindingness.
· Each party received completely independent legal advice from two different attorneys unless waived in writing by one of the parties. If this was not done, then that party can challenge the legality of his/her prenuptial agreement at a later date.
· Both parties did not waive their right to full disclosure, meaning they received copies of all documents about any family law issues (debts, property values) before signing the agreement.
A prenuptial agreement deals with the rights of spouses, including their separation and divorce options. A cohabitation agreement deals solely with financial arrangements between two people who are not married but reside together as a couple.
A legal separation is much like a divorce in that it requires the division of property and assets. The court will not consider any changes to child custody, visitation rights, or support obligations when granting a legal separation. All issues are dealt with by the courts at a later date once the couple has finalized their financial claims against one another.
Unlike with a divorce, couples who are legally separated remain married for tax purposes and continue to share health insurance benefits under the same plan they both had before. A spouse could not remarry while legally separated from his/her partner unless this was put into place as part of the approved agreement because s/he remains married.
When a couple decides to divorce, all of the assets need to be divided. This includes less tangible things like investments and IRA’s which may have been seeded with money from both spouses’ separate incomes as well as those accumulated during the marriage. In many ways, these “intangible” properties are treated no differently than other types of property.
To be divided fairly in a divorce, assets need to first be characterized as either marital or separate property. Once that’s done, the distribution will happen between spouses depending on what state they live in and whether there is community property legislation- if not, then everything goes into individual accounts instead of being evenly split.
IRAs: It is important to note the financial and tax complexities of dividing IRAs during a divorce. Some tips to keep in mind when doing so include:
· An IRA that is titled as an individual account, such as only your name on the title, can be transferred into an IRA that you establish after your divorce that has both names on it. However, this must be done before December 31st, following the year in which you received your ex-spouse’s interest in the original account. If you fail to do this by this time, then some or all of the transfer may not be taxable but may still count toward required minimum distributions (RMDs).
· You cannot transfer inherited IRA funds to a new or existing traditional IRA in your name unless the original IRA has been open for at least two years.
· If you inherit an IRA from someone other than your spouse, then you can still move it into one that is jointly titled with your current spouse as long as s/he signs the required paperwork and does not divorce during this process. Both of these accounts must be maintained until December 31st, following the year which you received the inheritance distribution.
Pensions: Pensions are awarded by employers to their employees either through direct contributions or through a matching program. When former members of a married couple begin collecting retirement benefits from a pension plan funded entirely by their employment, they typically receive half of those funds while the other half goes to their ex-spouse.
Under federal law, a pension plan must comply with state division laws as defined by the governing body of an individual state’s division of marital property law. A spouse is entitled to part ownership of a pension if they worked for that company too and were married at any time during those years. However, the amount of that share is determined by the length of the marriage and not always 50/50.
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