Author: WB Admin

On behalf of The Law Office of Wickersham and Bowers posted in Family Law on Monday May 19h, 2022.

A prenuptial agreement defines the parameters of your finances before marriage, including property rights and more. A lawyer should thoroughly review every prenuptial agreement, with one attorney representing you and the other representing your future spouse.

You may think prenups are only for people with substantial financial resources. However, if any of the following apply to you or your situation, a prenuptial agreement should be discussed.

One (Or Both) of You Has Children

A prenuptial agreement should be considered if one of you had children from a previous marriage or relationship.

Prenuptial agreements can be written to protect your children’s assets and future earnings. This property or income might ordinarily be considered part of the marital estate and so be divided. A premarital agreement ensures that children’s inheritance and future maintenance are not entangled in the divorce process.

There is Substantial Debt

Debt is an unfortunate aspect of life, and people can carry their debt into the marriage. The non-burdened party is unlikely to want to be saddled with an enormous bill should the marriage go sour. 

A prenuptial agreement can help limit one partner’s exposure to the debts of the other. Any agreement should spell out each partner’s individual debts and assets prior to the marriage, allowing for a clear distinction between those debts and debts incurred by the couple during the marriage.

Someone Plans to be a Stay At Home Parent

In the event of a divorce, it might be difficult or impossible for one party to re-establish their profession or financial footing after pausing or giving up their work to raise their children. A prenuptial agreement protects stay-at-home parents’ interests in marital assets. It ensures that these agreements are documented in the event that the marriage breaks and their profession is put on hold. 

One of You Has Pets

Including pets in your prenuptial agreement is normal, especially if the pets are costly. This will ensure that any animals you share with your spouse are returned to their rightful owners if the marriage ends in divorce. Although pet ownership is rarely a point of contention in divorce proceedings, some people do use it as a negotiating tool.

On behalf of The Law Office of Wickersham and Bowers posted in Family Law on Thursday April 7th, 2022.

Depending on the conditions, the divorce process can differ for each family. Because of the large number of military families in the United States, it’s also vital to address some differences and concerns that a military divorce may bring up.

 Service Members Civil Relief Act

When service members are on active duty, the Servicemembers Civil Relief Act helps to protect their legal rights. When one spouse serves the other with divorce papers, the latter is usually required to answer within a set amount of time. However, under the SCRA:

• If the service member demonstrates that they cannot attend due to duty obligations, civil court or administrative proceedings may be extended.
• In some cases, service members may be protected from default judgments if they fail to answer a lawsuit or attend a trial.

If You Are Overseas

A divorce decree made outside of the United States may be difficult to enforce since American courts do not recognize it. As a result, filing in the United States is frequently the best option.

Service members or their spouses can apply for divorce in the state where they are currently stationed, the state where they claim legal domicile or the state where the nonmilitary spouse resides, depending on the state’s laws.

Effect of Divorce on Military Benefits

The nonmilitary spouse may keep their identity card and continue to get commissary, exchange, and health-care benefits until the divorce is finalized. When a military member or other family members leave due to a divorce, installation family housing usually ends within 30 days.

The military may pay for the nonmilitary spouse’s relocation costs when he or she returns home from an overseas deployment post. The cost of an in-state move could be negotiated as part of the divorce settlement.

In the absence of an agreement or a court order, each military branch has policies requiring service members to support family members after separation.

When divorce causes a loss of TRICARE benefits, coverage can be purchased for up to 36 months of temporary health care benefits through the Department of Defense Continued Health Care Benefit program.

Don’t Get Discouraged

As you can see, a military divorce comes with its own set of complications. An attorney with experience handling military divorce can help you navigate the process efficiently. 

The Law Office of Wickersham and Bowers provides top-notch legal representation to clients in Daytona Beach and southern Florida. Our areas of legal practice include family law, personal injury, eminent domain, and estate planning and probate. Our firm has over 60 years of addressing our clients’ legal issues. Please feel free to contact us by filling out our online form or calling us at (386) 252-3000.

On behalf of The Law Office of Wickersham and Bowers posted in Family Law on Monday March 7th, 2022.

What happens after a divorce? The proceedings have likely left you depleted of your energy and feeling stressed. You should be aware, however, that divorce can be a significant first step toward a new chapter in your life. 

Let’s look at three primary areas where you should concentrate your efforts.

Break Ties With Your Ex

Marriage entangles your lives in many ways, and after a divorce, you need to go about extracting yours from theirs. It will likely mean new bank accounts, separate insurance accounts, and splitting any money you have in savings or retirement accounts. 

You may also be changing your name, which means updating all of your financial accounts and maybe even your social media. You may be closing joint streaming services and updating emergency contacts. 

If you have children, school and daycare will need updated contact information. Wills will need to be changed, and beneficiaries updated as well. 

Get Your Finances in Order

You may use the new start of a divorce to get your spending under control, start saving, improve your income, and achieve your financial objectives if you have a proper financial plan in place.

It is very likely that you were previously living with two incomes, and your financial circumstances have drastically changed. Take the following steps to ensure that you can maintain an appropriate lifestyle:

• Make a new monthly budget
• Track your new net worth
• Eliminate expenses as necessary
• Build up your emergency fund
• Plan to pay off debt
• Set new financial goals
• If necessary, rebuild credit
• Plan for your retirement

Resolve Any Legal Issues

As part of your divorce, you may have put in place provisions for spousal support and child custody agreements. If not, you will need to do that right away. 

There are plenty of details to co-parenting that will need to be worked out, such as visitation, where the kids will spend the holidays, and maybe even what religion they will be raised in. If things are amicable, you may be able to work these details out on your own, but an attorney should be involved if compromises can’t be reached.