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March 2016 Archives

Divorcing couples should know how to approach business assets

One of the biggest challenges for a divorcing couple can be the division of business assets. Complex and costly issues can arise for couples with businesses when they begin the process of dividing business assets during a divorce. During the divorce process, it is important that financial concerns are adequately protected so it is helpful for couples to be familiar with the challenges they may face concerning the division of business assets.

Couples should keep careful records of spousal support

Record-keeping during the divorce process, especially during a high-asset divorce, can be important. Perhaps not surprisingly, it is also important to keep records related to spousal support or partner support. Both recipients of spousal support and former spouses paying spousal support should keep records related to spousal support or partner support. One important reason to keep spousal support records is that it is considered tax deductible for the paying spouse and taxable income for the recipient spouse.

Understanding the importance of a parenting plan

Parenting plans are an important part of the divorce process. Developing a parenting plan can be a significant divorce-related issue for most divorcing parents. Parenting plans can sometimes, however, be difficult to develop and work out so some tips for creating a successful parenting plan may be useful. Divorcing parents may initially question the need for a parenting plan but it is important to keep in mind that life changes following a divorce and relationships change, job schedules change and people have to move or decide to remarry which is why it is important to develop a parenting plan at the outset of the divorce.

How does collaborative divorce work?

There are a number of couples who may be looking for alternatives to the traditional divorce process. Alternatives to the traditional divorce process such as mediation or collaborative divorce may save divorcing couples time, money and acrimony. As may be true of any divorce, couples may also have a variety of questions concerning collaborative divorce, including what it is, how it works and how it may help them through their divorce process.

How to know when a divorce modification may be granted

Divorce settlements are an important part of the divorce process, however, modifying a divorce settlement may also be important for the divorced parties. The lives of the parties, of course, continue to move forward following a divorce which may create a need for changes to divorce settlements. In some circumstances, a party to the divorce may seek a modification of the divorce settlement and in some circumstances, a modification to a divorce settlement may be contested.

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John T. Chamberlin, Attorney at Law
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