When it comes to divorce, everyone thinks first about the assets that need to be divided, whether it’s the home, other properties, cars, or bank accounts. But divorce also involves the division of the less-exciting aspects of the marital estate, the debt. For a few couples nearing or in retirement, much of the debt has
Category: Divorce
Gray Divorce and Retirement Assets
When saving for retirement, most couples try to plan for how to continue their standard of living for an extended period of time after retirement. They “do the math” to determine how their household will function financially when there is no longer new income coming in. But, what happens when one household becomes two? No
What Is a Gray Divorce?
A study by the Pew Research Center from March of 2017 showed divorce rates for adults ages 50 and older have roughly doubled in the past 25 years. These types of divorces are often called “gray” divorce. There are several contributing factors to this increase, one being that no-fault divorce is now available in all
What to Do If Your Child Is in Danger?
In an emergency situation you can file a Petition for a Temporary Order Without Notice simultaneously with a Petition to Modify Parenting Time. The court will hear it on an emergency basis if the child is in imminent risk of serious harm. The Court will deem the following as an emergency situation: 1. Abuse 2.
Sophisticated Compensation Plans
As companies change, so do their types of compensation plans. Understanding the way a spouse is compensated in a divorce is important for spousal maintenance, child support, and also for determining if there are additional assets to be divided in the case. While it is true that many employees are compensated with regular W-2 salary
Community Interest in a Sole and Separate Businesses
Many clients believe that once an asset is determined to be one spouse’s separate property they are no longer entitled to any compensation related to the asset. This is not always true. Although the business may have existed before the marriage, been a gift or inheritance during the marriage, or was purchased with traceable separate
Ongoing Ventures After Divorce
Some spouses still want to be business partners even after they divorce. There can be many reasons for this – both understand the nature of the business and wish to continue to participate, the asset is otherwise hard to value, and/or the spouses believe continuing the venture together will be more lucrative than a fire-sale
Complex Financial Issues in Divorce
Many people approach our firm seeking advice in a divorce believing that their case is simple and will settle easily. Occasionally this may be true, but more often than not divorce is more complicated than a client originally thinks. While it is true that divorces are complicated by legal decision-making and parenting time issues, many
“DOUBLE DIPPING” IN DIVISION OF A BUSINESS AND IN SPOUSAL MAINTENANCE CALCULATIONS
If you are divorcing and you or your spouse own a business, it is important to be aware of the concept of “double-dipping” as it applies to asset division and spousal maintenance awards. Because Arizona is a community property state, if a business was started – or if the value increased – during a marriage
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DO I HAVE TO MEDIATE WITH MY ABUSER?
Domestic violence issues are present in many Family Court cases including those referred to family law mediation programs. Well-meaning judges, attorneys, mediators and other professionals often mistakenly believe that both parties are able to assert their own interests in the presence of the other party as long as a third party is present, and they
