Monday, December 7, 2015
Given that this situation encompasses various areas of law, you should consult both a matrimonial and a business law attorney. Depending upon the type of business the division between you and your soon-to-be ex-wife may be straightforward. However, more than likely, it may take significant work to be able to divide the business. If you and your wife intend to continue to own and/or operate the business together, you could simply divide the ownership between the two of you.
Otherwise, the two of you have to continue to work together until the business is actually sold or dissolved. If the business is such that it has two distinct areas you could spin off one of those into a separate entity that can be owned by one of you. If the business owns real estate, perhaps some of the real estate could be transferred into a new entity to be owned by one of you with the other of you retaining the ownership of the original entity. If the business is such that it is almost impossible to divide, then perhaps one of you becomes the sole owner of the business and has to pay the other over some period of time for the value of one half of that business. Instead of paying the other of you perhaps an outside loan from a bank or other lending institution could be obtained to provide the funding for the purchase price.
A final option may be that the business has to be sold to an outside third party and the proceeds would be divided between you and your wife in accordance with any agreement between the two of you that have been approved by the divorce court or pursuant to an order.
Thursday, August 6, 2015
Regardless of how long you have been married, negotiating a settlement is the most important part of the divorce process. Although it is no easy task, working with your spouse to arrive at mutually agreed terms of your marital dissolution is easier on your wallet and your psyche. Whatever conditions caused the breakdown in the marriage are likely still present throughout the divorce negotiation, exacerbated by emotions such as anger and fear as you each transition into the next stage of your lives.
However, staying focused on what’s best for your future will serve you well as you navigate these tumultuous waters. Taking your divorce case to trial and letting the court decide what will become of your property or children is rarely in your best interest. Although you may not get everything you hoped for during a settlement negotiation, you will save a tremendous amount of money, time and emotional anguish.
Divorce settlement negotiations involve a degree of both skill and art, both of which can be attained by following a few simple tips. Even if your attorney is doing the negotiating on your behalf, it is important that you are clear regarding your priorities, so you can make decisions that are truly in your own best interest for the future life you are establishing post-divorce.
Negotiating a settlement agreement necessarily involves a certain amount of give and take, on both sides, so keep in mind that you most likely won’t get everything you want. But following the tips below can help ensure you get what’s most important to you.
- Establish clear priorities.
- Know what you can give up completely, where you can be flexible and those critical items where you are unable to budge.
- Be realistic about your options and the bigger picture, so you can be reasonable when you must “give” something in order to “take” something.
- Stay focused on the negotiation itself, and your future; avoid recalling past resentments or re-opening past wounds. Your divorce settlement negotiation is no place for “revenge” which can ultimately delay your case and cost you thousands in unnecessary legal expenses.
- If your soon-to-be-ex-spouse becomes emotional or subjects you to personal attacks, don’t take it personally. This may be easier said than done, but it is important to stay focused on your priorities and realize that such “noise” does not get you any closer to a settlement agreement.
- If you spouse presents you with a settlement offer, consider it carefully and discuss it with your attorney. It may not include everything you want, but that may be a fair trade off in order to finalize your divorce and move on with your new life.
- If you are negotiating your own settlement agreement, consult with an attorney before you make an offer to your spouse or sign any proposed agreement.
By keeping the focus on your priorities, and avoiding the emotionally-charged aspects of your failed marriage, you can ensure you negotiate a divorce settlement agreement that you can live with.
Friday, June 26, 2015
My spouse and I would like to pursue an amicable divorce, and would like to stay out of court if at all possible. Are there alternative methods to divorce resolution?
With the dawning of no-fault divorce in New York, couples looking for a more amicable, less-stressful dissolution experience may be able to achieve such results through the use of alternative dispute resolution. Namely, mediation and collaborative divorce models have proven wildly successful in New York and elsewhere, allowing families the opportunity to transition their family dynamics with dignity and grace, as opposed to name-calling and vitriol.
As the name suggests, a collaborative divorce is one in which all parties agree to forgo litigation (i.e., court intervention) in lieu of working together to arrive at a practicable solution. Issues ranging from spousal support to child visitation are negotiated in a non-adversarial environment, and parties are encouraged to work together – as opposed to in opposition – to arrive at a settlement agreement that meets the needs of the family as a whole. Collaborative divorce relies on the mutual agreement by both spouses to engage in full disclosure during all negotiations, as well as treat all parties involved with respect.
As a component of the traditional divorce model, mediation is often used when parties are stuck on a particular issue, and is designed to avoid the costs and time investment of full-blown litigation. In lieu of the formal adversarial process, parties are seated at a table before a neutral third party. This third party will then work with both sides to determine the most important factors at play, as well as offer solutions for both parties to consider. If, at the conclusion of the session, an agreement cannot be reached, parties will be scheduled for a full hearing before a New York judge.
Monday, May 18, 2015
If you are in an abusive relationship but are afraid leaving your spouse will jeopardize your or your children’s immigration status, you are not alone. The law is on your side, and an experienced attorney can help you break free from your abuser’s control and secure your immigration status.
Abuse can take many forms -- physical harm, forced sexual relations, emotional manipulation (including isolation or intimidation), and economic and/or immigration-related threats; the law recognizes this and provides an escape. There are three ways immigrants who become victims of domestic abuse may apply for legal immigration status:
- Self-petitions for legal status under the Violence Against Women Act (VAWA)
- Cancellation of removal (also known as deportation) under the VAWA
- U-nonimmigrant status for victims of crime
A lawyer can help you determine which option is right for you and your children, and help you file the appropriate documents. All of the options above are confidential, so your abuser and other people will not know you have applied unless you tell him or her.
Marriage is not supposed to be a trap. Your immigration status should not prevent you from leaving a relationship that is harmful to you or your children.
If you or your children are in immediate danger, do not hesitate to call 911. Tell the police what you fear is about to happen, and be prepared to tell them about any abuse that has happened in the past. The police may arrest your spouse, and/or other people, if a crime has been committed. Once you are out of harm’s way, you can seek legal assistance from an attorney to help you gain a more permanent solution to your problems.
If you are not in immediate danger, it is a good idea to reach out to an attorney with experience handling these types of cases as this can be a confusing area of law. Having someone that can guide you along the way is critical.
Monday, May 5, 2014
You may have signed several affidavits over the years, without fully knowing what they are. You might have signed one to register to vote or obtain some government benefit. An affidavit can also be used as evidence in a lawsuit.
An affidavit is a written document. The person signing it (the “affiant”) declares under oath that he or she is making voluntary and truthful statements. Requirements for an affidavit vary based on the circumstances and jurisdiction. In most jurisdictions, an affidavit must contain the affiant’s name, physical address and the affiant’s signature.
The contents need to be voluntary and limited to what the affiant knows to be true because of direct observation or experience. Before signing an affidavit, be certain of the basis of your knowledge. Do you know these statements to be true or just think that they’re true?
Most jurisdictions require the affiant swear under oath that the statements are true before signing the document. That signature needs to be witnessed and certified by a notary public, attorney or other public official authorized to take oaths. The affiant must understand the content of the affidavit, the importance of an oath and the consequences for violating an oath. A person who lies on an affidavit may be deemed to have committed perjury and face considerable penalties. Given the significant consequences, anyone who is not mentally competent shouldn’t sign an affidavit or be asked to sign an affidavit.
You may be asked to sign an affidavit if you witnessed an incident that may lead to, or has already resulted in, legal action. Parties, or their attorneys, may want a formalized, written statement of what you saw. If you’re in this position, make sure the affidavit is complete and accurate. Consult your own legal counsel before signing. The party contacting you may want an affidavit that puts them in the best light, not one that tells the whole story.
Be very careful about what’s stated in the affidavit, as opposing counsel may focus in on the document and investigate every aspect of it during litigation. In a deposition or during a trial, opposing counsel may press you on the contents of affidavits to impeach your credibility.
Is this the first affidavit on this topic? If not, review the previous affidavit(s). If something you previously stated was true, but you now know is false, you need to discuss with your attorney how this should be addressed.
Before signing on the dotted line of an affidavit, think it through and make sure the information presented is accurate. If you have any questions about an affidavit you’ve been asked to sign, or want to sign for your own purposes, consult with an attorney who can review it to ensure it is optimally drafted and does not end up getting you in hot water.
Saturday, April 5, 2014
Discussing your desire to establish a prenuptial agreement with your future spouse has the potential to be a complete disaster, but approaching the topic with the comfort of your partner in mind can help alleviate much of the stress associated with the process of creating a premarital agreement.
A prenuptial agreement is a legal document drafted and signed before marriage that lays the groundwork for the distribution of assets should the marriage fail. Although these agreements aren't a requirement for engaged couples, many attorneys agree they are an important part of the pre-marriage process, as they provide a binding agreement that each partner must adhere to in the event of a divorce. Many are sensitive to the idea that signing an agreement of this kind means one partner thinks the marriage will fail, but prenuptial contracts are really just meant to serve as a contingency plan.
Below are three ways to make the discussion easier.
Know the basics of a prenuptial agreement.
You likely have an inkling as to how your partner will react to you bringing up the subject of a premarital agreement. Whether you think they will be neutral or get defensive at the very mention of the idea, explain that drafting the agreement as a couple gives you the ability to design it in a way that could financially protect both of you in the event that your marriage fails. Make sure your partner is aware that their feelings during this process are of the utmost importance to you. It's best to seek the guidance of an experienced family law attorney prior to discussing a prenuptial agreement with your future spouse in order to gather all the information you need to have a thorough discussion on the subject. These small preparations can help the conversation flow more smoothly between you and your partner, hopefully resulting in a relaxed and honest discussion about what you both expect from your marriage.
Don't wait until the last minute to tell your fiancé you want a premarital agreement.
Both of you should be involved in the process of drafting the prenuptial agreement. It shouldn't be one of you presenting the other with a contract at the rehearsal dinner right before the wedding. Not only are last-minute agreements on "shaky ground" legally speaking, but you're more likely to upset your partner if you expect them to read and sign this type of contract without any warning. Prenups that are signed shortly before the wedding aren't necessarily lawfully invalid, but they are much more likely to be legally argued than agreements that were signed well before a couple says "I do." In order to avoid inflicting massive pre-wedding jitters on your partner, talk about your desire to have a prenup as soon as possible following your engagement. Working together to draft the agreement provides both of you with a chance to state how you feel "work" will be divided throughout your marriage, which can make you more secure with your decision to marry than before. The prenuptial agreement takes the guesswork out of a divorce, as it determines who owns what property.
Consider working with a mediator to draft your premarital agreement.
Working with a mediator allows you, the couple, to draft a contract that combines both of your best interests. Before meeting with a mediator, couples should come up with some issues they would like to address in their prenuptial agreement. Discussing what key points you want the agreement to include beforehand ensures that you are on the same page as a couple, and it will make the meeting with the mediator more productive. In addition to providing you with unbiased advice, a mediator can offer couples guidance on the legalities involved in such contracts. This method is a smart way to guarantee each spouse equal bargaining power. As a matter of protection and precaution, each spouse may also hire their own individual attorney to review the agreement.
Saturday, March 15, 2014
Most people think of marriage as a declaration of love and commitment, not as a legal contract that defines the financial and familial obligations of each party. That is, until they start negotiating a divorce settlement and discover their state’s policy on the division of marital property and spousal support. Although not every couple establishes a prenuptial agreement, there are several good reasons for having a smart prenup in place before saying those magical words, “I do.”
What is a Prenup?
A prenuptial agreement is a legal document that allows the couple to make decisions about their finances and marital property should they eventually decide to part ways. You cannot circumvent the child custody statutes in your state through a prenuptial agreement, although you can decide who gets to keep the family dog. The terms of the prenup must be legal and should be fair to both parties. For instance, an agreement that would leave one spouse homeless with no source of income would not be enforceable.
A prenup is particularly useful when one, or both parties, enter into the marriage with valuable assets or has children from a previous relationship. Older couples are more likely to consider a prenup because they have more assets to lose. Those who are exchanging matrimonial vows for a second or third time recognize that having a customized financial game plan in place can make divorce proceedings less stressful.
A prenup can eliminate later disputes over assets during a divorce and save the couple from acrimonious, time consuming and stressful litigation.
When Should You Consider a Prenup?
A prenup might be a good idea if you have any of the following concerns:
- Providing peace of mind for the partner who has significantly more income or wealth
- Making sure your business remains intact, in your name
- Defining assets such as property, a retirement fund or investments as separate property, not marital property
- Retaining possession of family property, heirlooms or an anticipated inheritance after a divorce
- Looking after the long-term interests of children from a previous marriage
- Worrying that changing your career plan to raise children will leave you at a financial disadvantage
- Avoiding interference with an estate plan
- Financing long-term care for elderly parents or relatives
Starting Your Marriage the Right Way
The divorce laws in most states work on the assumption that both partners in a marriage have agreed to pool their tangible and intangible assets, and the courts generally attempt to make an equitable and fair division of these assets following a divorce. A prenuptial agreement gives you and your intended spouse the opportunity to consider potential areas of disagreement regarding your financial future and address them in a forthright and realistic manner.
Wednesday, March 5, 2014
Workplace romances are never advisable, but sometimes co-workers and business partners fall in love and get married. Unfortunately, they also sometimes fall out of love and get divorced. What happens next?
For some couples, the end of the marriage parallels the end of their working relationship—and possibly the end of the business itself. There are a number of options in such cases. The couple can sell the business and split the proceeds as part of the divorce settlement, or one partner can buy out the interest of the ex-spouse. Or they can try to split the business, with each taking half. Speak with an experienced business lawyer about the pros and cons of these options for your situation.
However, some former spouses do figure out a way to maintain their business partnership after the divorce. The personal relationship may have hit a dead-end, but the investment involved in building and growing a successful company can make it hard to walk away—and unless the business is wildly successful, with plenty of prospective buyers waiting in the wings, it is feasible that neither party can afford to walk away.
Overcoming the Challenges
There are challenges in every business partnership, and ex-spouses can adopt some basic business strategies to cultivate and maintain a healthy working relationship:
- Sign a partners agreement. Be clear about your separate and joint responsibilities, and matters of liability. Make a contingency plan outlining how assets will be divided in case either partner decides to leave.
- If necessary, divide up responsibilities or tasks you once did together so you each have more autonomy.
- Establish a board of directors. Trustworthy business people may have valuable perspectives about the direction and goals of your company.
- Keep the company finances transparent. Money is often one of the most difficult issues in a divorce. Get help if necessary to streamline your accounting processes.
- Be professional around other staff members and employees. It is not fair to put employees in a position where they feel pressured to take sides or respond to inappropriate complaints about their other boss. A toxic work environment is never good for business.
Thinking Outside the Box
Even with the best intentions, a divorced couple may keep falling back into their old patterns at the workplace. If you still think that the business is viable and worth the effort to make a go of it, get professional help. A good marriage therapist is trained to help couples understand the point of view of the other person and gain insight into their dynamics, and this can be valuable information post-divorce, as well.
Most entrepreneurs have a knack for thinking outside the box. Maybe you and your ex- can alternate day and night shifts for a few months. Build a partition between your desks. It might take a while before you move from being unhappy exes to friendly partners - but it just might be worth it.
Wednesday, February 5, 2014
Marriage is a commitment, but in theory, it’s supposed to be a long and happy commitment. In order to give yourself the best chance at future marital bliss, you should have a frank “money matters” conversation with your partner-to-be before you tie the knot.
Marrying someone with substantial debts can impact major life decisions like buying a house, raising a family and even the type of wedding you can afford. It’s therefore essential that you sit down with your future spouse and get an idea of the condition of their credit and any hidden monstrous debts that may be lurking in the background, prepared to spoil your honeymoon.
Types of Debt
Debt can generally be divided into two categories?good debt and bad debt. Good debt is usually long-term low interest debt and is often backed by a government guarantee?think student loans, mortgage loans and even some small business loans. If your future husband or wife just finished their residency in endocrinology, they probably have some intimidating student loan debt from med-school. You should be aware of that debt, but it’s not the kind of thing that should scare you away from saying, “I do.”
Bad debt, on the other hand, is the type of short-term, high-interest debt that has the potential to cause serious problems?think credit cards, personal loans and some car loans. If your beloved has been earning a middle-class income but dresses in enough designer apparel to impress even the red carpet crowd, there might be some nasty high-interest credit card debt just waiting to cause some added wedding day stress. Some credit card companies can charge interest rates up to 34% in addition to high fees and enormous penalties. This type of debt can really put a dent in your monthly income and lead to the kind of lover’s quarrels you want to avoid.
To Delay or Not to Delay
Once you know where your future partner’s finances lie, you can make an informed decision about whether it makes sense to get married now or delay for a while. For the most part, you won’t be personally responsible for the debts your partner incurred before the marriage. There are some exceptions to this rule (the comingling of funds or assumption of debts) but they can be avoided with careful planning.
However, just because you’re not personally responsible for the debt doesn’t mean it won’t present problems. Most married couples operate their household as a single unit. That is, they contribute their earnings and assets to make ends meet. If a substantial portion of your partner’s income is diverted to old debts, there will be less money in the “pot” for things like rent, fuel, entertainment and food. Also, it will be difficult, if not impossible, to apply for a mortgage together if your partner’s credit is in the gutter. If you’re fine with these prospects, and head over heels in love, then by all means go forward with the wedding?at least you, unlike thousands of other couples, will have an understanding of the challenges you are facing.
If, however, you’re not comfortable with your partner’s finances, there are a few things you can do. First, you can delay the marriage and work together with your partner at restoring their credit and paying down their debts. You can still set a wedding date. In fact, the certainty of the wedding date is often an impetus to get down to the brass tacks type of financial sacrifice it takes to properly repair a credit rating and pay off those bad debts. In some cases, it takes only a year or less to get things in good shape.
Monday, February 18, 2013
Regardless of how long you have been married, negotiating a settlement is the most important part of the divorce process. Although it is no easy task, working with your spouse to arrive at mutually agreed terms of your marital dissolution is easier on your wallet and your psyche. Whatever conditions caused the breakdown in the marriage are likely still present throughout the divorce negotiation, exacerbated by emotions such as anger and fear as you each transition into the next stage of your lives.Read more . . .
Monday, December 3, 2012
“Do it yourself” divorce is fraught with risks – even if your case is “simple” and both parties agree on all issues regarding division of property, support, and child custody and visitation. As many have learned the hard way, it is all too easy to make critical missteps today that will come back to haunt you down the road.Read more . . .
Serving Southeastern Wisconsin, with offices in Milwaukee and West Bend, Affliated Attorneys, LLC represent clients throughout Milwaukee County, Washington County, Waukesha County, Dodge County, Ozaukee County, Racine County, Sheboygan County, Jefferson County, Fond du Lac County and Walworth County.