Protecting Your Family’s Interests: Insights into Divorce, Child Custody, and Financial Settlements

On behalf of The Law Office of Wickersham and Bowers posted in Family Law on Friday July 14th, 2023.

Divorce can be an emotionally exhausting and taxing process for any family. Amid all the turmoil, it’s crucial to prioritize the wellbeing of your children while protecting financial interests of the family unit. Here we will explore insights on divorce, child custody and settlement agreements.

Child Custody and Co-Parenting

Courts prioritize the best interests of the child when making custody decisions, so it’s essential a positive co-parenting relationship exists between yourself and your ex-spouse – this might include creating a parenting plan outlining visitation schedules, decision-making responsibilities and communication protocols.

Legal Representation

Consulting an experienced family law attorney will help guide you through this process while protecting your rights and advocating for your family’s best interests. They will assist with understanding all available options as you make informed decisions regarding child custody arrangements, financial settlements or any other legal matter that arise.

Financial Settlements and Asset Division

Divorce often requires the division of assets, liabilities and determining financial support payments. Being aware of your family’s assets, debts and income will help you understand its current state and make informed decisions regarding property division, spousal support or child support payments. Working closely with financial advisors or accountants is crucial when planning for divorce.

Documentation and Records

Documenting all aspects of your divorce proceedings is absolutely vital. Keep records of financial transactions, asset valuations, correspondence with your spouse and any other pertinent details that could serve as evidence during negotiations or legal proceedings. An organized approach ensures transparency while safeguarding family interests.

Emotional Support for Children and YourselfDivorce can be emotionally trying for both parents and children. To provide emotional support to your children as they adjust to change and uncertainty, encourage open communication, seek professional counseling if needed and reassure your children of your love and commitment to their wellbeing. Similarly, make time for yourself by seeking support from friends, family, or therapists as you navigate the emotional terrain associated with divorce.

Top Estate Planning Mistakes to Avoid: Insights from Wickersham and Bowers

On behalf of The Law Office of Wickersham and Bowers posted in Estate Planning on Friday July 14th, 2023.

Estate planning is an essential step to protecting and disbursing assets after one’s passing, yet many make critical errors which can compromise their intentions. To shed more light on this important topic, we turn to Wickersham & Bowers – Daytona Beach lawyers in estate planning who offer valuable insight on top estate planning mistakes to avoid

Failing to Create a Comprehensive Estate Plan

One of the most frequent errors people make is failing to create an in-depth estate plan. While many may believe a simple will is sufficient, this approach often leaves many aspects uncovered. According to Wickersham and Bowers’ guide for effective estate plans, a plan should also include durable power of attorney documents (DPA/HCP), healthcare proxy forms, trust documents (if desired) and possibly more – to cover financial matters, healthcare decisions and the distribution of assets upon incapacity or death.

Neglecting to Update the Estate Plan

Another costly error involves failing to regularly review your estate plan. Life can bring many changes such as marriage, divorce, births, deaths, and financial fluctuations that could significantly alter your estate plan. Wickersham and Bowers emphasize the importance of reviewing and updating it when life events such as marriage, divorce or births occur as they could significantly impact it; failing to do this could have serious repercussions; outdated information may lead to improper distribution or could exclude potential beneficiaries altogether.

Overlooking the Importance of Beneficiary Designations

Life insurance policies, retirement accounts and even bank accounts often require individuals to designate beneficiaries; unfortunately, many fail to update these designations when circumstances change, leading to unexpected distributions of assets. It’s important of regularly review and update beneficiary designations so they align with your wishes and overall estate plan.

Failing to Consider Tax Implications

Wickersham and Bowers advise seeking professional guidance for understanding potential tax implications as well as ways to lower them; through tools like trusts or gifting strategies you may be able to decrease the tax burden for your estate and keep more assets for beneficiaries – an approach to tax planning can make a real difference in its long-term financial wellbeing.