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DIVORCE

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DIVISION OF ASSETS & DEBTS

Divorce is a difficult and emotional process for anyone to go through. One of the most challenging aspects of a divorce is the division of assets and debts. When a couple decides to divorce, they must determine how to divide their property and debts between them. The process can be complex, time-consuming, and contentious, especially if the couple cannot agree on how to divide their assets and debts.

In this blog post, we will discuss the division of assets and debts in a divorce, including what factors are considered, how property is categorized, and what options couples have to resolve their disputes.

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Factors Considered in Dividing Assets and Debts

When dividing assets and debts in a divorce, several factors are considered. These may include:

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  1. The length of the marriage: The length of the marriage is an essential factor in determining how assets and debts will be divided. Generally, the longer the marriage, the more significant the financial entanglement between the spouses.

  2. The income and earning capacity of each spouse: The income and earning capacity of each spouse is another crucial factor in determining how assets and debts will be divided. If one spouse earns significantly more than the other, they may be required to pay spousal support.

  3. The standard of living during the marriage: The standard of living that the couple enjoyed during the marriage is another factor that is considered. The court may consider how much money was spent on living expenses, vacations, and other lifestyle expenses when deciding how to divide the assets and debts.

  4. The age and health of each spouse: The age and health of each spouse can also be a factor in determining how assets and debts will be divided. If one spouse has a significant health issue, they may need more financial support than the other spouse.

Property Categorization

In most states, property is categorized as either marital or separate. Marital property is any property that the couple acquired during the marriage, regardless of whose name it is in. Separate property is property that one spouse acquired before the marriage or received as a gift or inheritance during the marriage.

In some states, there is a third category called mixed property. Mixed property is property that has both separate and marital components. For example, if one spouse owned a house before the marriage but then used marital funds to make improvements on the property during the marriage, the property may be considered mixed.

Dividing Assets and Debts

There are several ways to divide assets and debts in a divorce. The most common methods include:

  1. Negotiation: Negotiation is when the couple comes to an agreement about how to divide their assets and debts. This method can be less expensive and less time-consuming than going to court, but it does require a certain amount of cooperation and communication between the spouses.

  2. Mediation: Mediation is when a neutral third party helps the couple reach an agreement about how to divide their assets and debts. Mediation can be less expensive and less adversarial than going to court, but it does require a certain amount of cooperation and communication between the spouses.

  3. Collaborative divorce: Collaborative divorce is when the couple agrees to work together to reach an agreement about how to divide their assets and debts. This method can be less expensive and less adversarial than going to court, but it does require a certain amount of cooperation and communication between the spouses.

  4. Litigation: Litigation is when the couple goes to court to have a judge decide how to divide their assets and debts. This method can be expensive and time-consuming, and the outcome is ultimately in the hands of the judge.

Conclusion

The division of assets and debts in a divorce can be a complex and emotional process. However, understanding the factors that are considered and the different methods available to divide assets and debts can help couples navigate this difficult time more

Family Decorating Eggs

CHILD CUSTODY

Divorce is a difficult and emotionally charged process, especially when children are involved. Child custody is often one of the most contentious issues in a divorce. Parents may disagree on how much time each should spend with the children, who should make decisions regarding their education, healthcare, and other important matters. This blog post will provide an overview of child custody in a divorce and what parents can expect during this process.

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Types of Child Custody

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In most states, there are two types of child custody: legal custody and physical custody. Legal custody refers to the right to make important decisions about the child's upbringing, such as education, healthcare, and religion. Physical custody refers to where the child lives and the time spent with each parent. In some cases, parents may share joint legal custody, meaning they both have the right to make important decisions for their child. However, joint physical custody, where children spend an equal amount of time with each parent, is less common. Instead, one parent is usually designated as the primary custodian, while the other parent has visitation rights.

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Factors Considered in Child Custody

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When determining child custody arrangements, the court will consider various factors, including:

  1. The child's age, gender, and emotional and physical health.

  2. The child's relationship with each parent.

  3. Each parent's ability to provide for the child's physical and emotional needs.

  4. Each parent's lifestyle, including work schedule and living arrangements.

  5. Any history of abuse or neglect by either parent.

  6. The child's preference, if they are old enough to express one.

The court's primary concern is the best interests of the child. They will take all of these factors into consideration when making their decision.

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The Custody Process

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The custody process can vary depending on the state and individual circumstances. However, generally, it involves the following steps:

  1. Filing a petition: One parent files a petition with the court requesting custody.

  2. Serving the petition: The other parent is served with a copy of the petition and given an opportunity to respond.

  3. Mediation: In some cases, the court may require the parents to attend mediation to try and come to an agreement on custody arrangements.

  4. Evaluation: The court may order a child custody evaluation, which involves a mental health professional evaluating the family and making a recommendation to the court.

  5. Trial: If the parents cannot come to an agreement, the case goes to trial. Each parent presents their case to the court, and the judge makes a final decision.

 

Conclusion

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Child custody is a complicated and emotionally charged issue in a divorce. It's essential to prioritize the best interests of the child and work towards a solution that benefits everyone involved. If you're going through a divorce and have concerns about child custody, it's crucial to consult with an experienced family law attorney. They can guide you through the process and help ensure your rights are protected.

Meeting with a Lawyer

MEDIATION  vs LITIGATION

Divorce is a difficult and emotional process, and it can be made even more challenging when the parties involved choose to litigate their case in court. Fortunately, there is an alternative to traditional litigation: mediation. Mediation is a process in which a neutral third party, known as a mediator, helps the parties involved in a divorce reach a settlement that is fair and agreeable to all parties. In this blog post, we will discuss the advantages and disadvantages of mediation versus litigation during divorce.

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Advantages of Mediation

 

  1. Cost-effective: Mediation is generally less expensive than traditional litigation. Since the parties involved in mediation work with a mediator to reach a settlement, they avoid the high costs of attorneys’ fees, court fees, and other expenses associated with litigation.

  2. Faster resolution: Mediation can be completed much more quickly than traditional litigation. The parties involved in mediation can work at their own pace to reach a settlement, and they are not bound by the slow pace of the court system.

  3. More control: In mediation, the parties involved have more control over the outcome of their case. Instead of leaving the decision in the hands of a judge, the parties can work together to find a solution that meets everyone's needs.

  4. Confidentiality: Mediation sessions are confidential, which means that the parties involved can speak openly and honestly without fear of their statements being used against them in court.

Disadvantages of Mediation

  1. Unequal bargaining power: In some cases, one party may have more bargaining power than the other, which can make it difficult to reach a fair settlement in mediation.

  2. Limited discovery: Unlike litigation, mediation does not involve a formal discovery process, which means that the parties involved may not have access to all the information they need to make informed decisions.

  3. No enforcement power: Since mediation is a voluntary process, there is no guarantee that the parties involved will actually abide by the terms of the settlement they reach.

Advantages of Litigation

  1. Formal process: Litigation follows a formal legal process, which means that the parties involved have access to a range of legal remedies and can rely on the courts to enforce their rights.

  2. Full discovery: Unlike mediation, litigation involves a formal discovery process, which means that the parties involved have access to all the information they need to make informed decisions.

  3. Binding decisions: When a case is litigated, the court makes a binding decision that is enforceable by law, which means that the parties involved can be sure that the terms of the settlement will be enforced.

Disadvantages of Litigation

  1. High cost: Litigation can be extremely expensive, particularly if the case goes to trial. The parties involved may need to pay for attorneys’ fees, court fees, expert witness fees, and other expenses.

  2. Lengthy process: Litigation can be a lengthy process that can take years to resolve. The parties involved may need to attend multiple hearings, go through a lengthy discovery process, and wait for a court date.

  3. Limited control: In litigation, the parties involved have less control over the outcome of their case. Instead of working together to find a solution that meets everyone's needs, the parties must rely on the court to make a decision.

Conclusion

In conclusion, both mediation and litigation have their advantages and disadvantages during divorce. Mediation is generally more cost-effective, faster, and allows for more control over the outcome. Litigation is more formal, involves full discovery, and provides binding decisions. Ultimately, the decision to choose mediation or litigation depends on the specific circumstances of each case and the goals and priorities of the parties involved. It is always advisable to consult with an experienced attorney to determine the best course of action.

House For Sale Sign

REAL ESTATE

Wendy has definitely found a niche in combining her Family Law and Real Estate expertise, which enables her, along with her team, to lead her clients down the successful path to “Sold” with understanding, compassion and empathy.  With her diplomatic character and problem solving and negotiating skills, she gets the job done.  Even in high conflict situations, Wendy is able to remain neutral and unbiased and assist both parties through the negotiations.  Wendy has worked with many Family Law attorneys and has a grasp of the legal implications involved and she often works as a liason between both parties on either side in high conflict situations.

Studies say that some of the most challenging and stressful lifetime events is (1) Selling a Home and (2) Getting Divorced, so when you have to deal with both simultaneously hiring the right professional is key.  Wendy really brings clarity to the situation, she has systems and strategies in place to insure that expectations are set, all components to the transaction run smoothly from start to finish and the end goal is achieved.   Wendy can be reached directly at (805) 558-9931 or Wendy@TheDormerGroup.com.

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