April 21, 2012 (Press-News.org) Financial Considerations for Divorce or Dissolution in Washington
Are you contemplating or facing a divorce? Whether congratulations or regrets are in order, many decisions must be made as you prepare to start the next chapter of your life; decisions about children, joint assets, alimony, child custody and finances.
Washington is a community property state, meaning that, in general, all property -- and debt -- acquired during the marriage and money made during the marriage will be split equally between the two upon divorce or dissolution of a domestic partnership. Separate property is usually previously-owned property brought into the marriage or inherited by one of the partners. Distinguishing between the two types of ownership often requires a professional, especially when a business is owned by one or both parties.
As you prepare to go your separate ways, the financial aspects of the divorcecan be the hardest to overcome. This is especially difficult if one person has a much better handle on the family finances. Here are some things you can do ahead of time to prepare for settlement negotiations:
-Organize family paperwork such as taxes, real estate deeds and banking records
-Do not engage in "retail therapy" by going on a shopping spree
-Calculate the long-term costs of keeping the family home
There are also things you can do to start living financially separate lives:
-Set up bank accounts and credit cards in your sole name
-Establish a joint account that is used for interim family expenses
-Decide who will pay for the children's health insurance and college
If you are preparing to divorce or are already in the midst of splitting up, talk with a lawyer who knows family and divorce law. An experienced family law attorney can help you achieve an equitable division of assets and assist you through the emotionally draining divorce process.
Article provided by Law Offices of Gregory & Rooney, PLLC
Visit us at http://www.grrlegal.com/
Financial Considerations for Divorce or Dissolution in Washington
As you prepare to divorce, the financial aspects of the divorce process can be the hardest to overcome. This is especially difficult if one person has a much better handle on the family finances.
2012-04-21
ELSE PRESS RELEASES FROM THIS DATE:
Parents Should Be on Their Best Behavior During a Divorce or Separation
2012-04-21
Parents Should Be on Their Best Behavior During a Divorce or Separation
A recent study confirms what many have suspected: Poor behavior by divorcing parents causes more problems for their children than the divorce itself. Research shows that all children experience some negative effects as their parents separate or divorce but, if a split is particularly traumatic or vicious, the children may suffer the ill effects into adulthood and some never quite recover.
If you are facing a separation or divorce from your spouse or domestic partner, the two of you have the power ...
Avoid These Mistakes When Creating or Updating an Estate Plan
2012-04-21
Avoid These Mistakes When Creating or Updating an Estate Plan
Few people like to think about death, and planning for a time for after they have passed on often gets put off "for another day." When people do get around to making estate plans, they often end up making some common errors that leave their heirs in as poor of a condition as if they had not planned at all. People should avoid some of the following recurring estate planning blunders.
Not Naming Beneficiaries
The biggest mistake people can make in estate planning is not to have a plan at all. ...
It's All About Taxes: Variety Is the Reason to Establish an LLC
2012-04-21
It's All About Taxes: Variety Is the Reason to Establish an LLC
When first introduced as a business entity, Limited Liability Corporations were widely hailed as a great way to shield owners from personal liability for their business obligations. This "corporate veil," as it is known in legal circles, ensures that an owner can operate a business while protecting his or her personal assets from most types of lawsuits and business debts.
Well and good, most business owners and entrepreneurs agree. But for many what it really comes down to is taxes.
Taxes ...
Former Student Convicted of Bias Intimidation for Webcam Spying
2012-04-21
Former Student Convicted of Bias Intimidation for Webcam Spying
In a case that has garnered national controversy, a jury has convicted a former Rutgers University student of bias intimidation, invasion of privacy and evidence tampering, convictions that could bring as many as 10 years in jail. Dharun Ravi, the student convicted, was born in India and also likely faces deportation. The charges, and subsequent conviction, arose from an incident where Ravi used a webcam to spy on his gay roommate. Shortly after seeing Ravi's tweets about the incident, his roommate, Tyler ...
New Jersey Bans Synthetic Marijuana
2012-04-21
New Jersey Bans Synthetic Marijuana
New Jersey's Division of Consumer Affairs has banned all forms of synthetic drugs that mimic marijuana's effects. Previously, five types of synthetic marijuana had been banned in the state, but New Jersey has joined three other states in banning all forms of the drug. Most states ban some form of the substance, as does the federal government. The all-inclusive ban is the latest attempt by New Jersey to crack down on drug crimes.
Synthetic marijuana is a mixture of synthetic compounds chemically similar to THC, the active ingredient ...
Connecticut Dog Bite Liability
2012-04-21
Connecticut Dog Bite Liability
There are approximately 800,000 dog-bite injuries requiring medical treatment each year in the U.S. Another one to two million bites annually do not get reported, according to the Turlock Journal. Many of these incidents can be prevented, but some aggressive dogs are simply uncontrollable. When dog attacks lead to injuries, Connecticut law can provide a way for victims to obtain the compensation they need to recover and get back on their feet.
Potentially Liable Parties
Victims of dog biteslikely have legal claims if another person's ...
How Bankruptcy Affects Car Loans
2012-04-21
How Bankruptcy Affects Car Loans
Many people considering bankruptcy have questions about how the process will affect their vehicle loans. Unlike credit card debt, medical bills and other forms of unsecured debt, which are often dischargeable in bankruptcy, car loans are usually secured debts. This means that the vehicle itself is used as collateral in the loan agreement, allowing the lender to repossess the vehicle in lieu of payment if the buyer fails to pay off the debt.
Secured loans are generally more difficult to discharge through bankruptcy than unsecured debt. ...
Florida Rolls Out Significant Personal Injury Protection Changes
2012-04-21
Florida Rolls Out Significant Personal Injury Protection Changes
Big changes to Florida's personal injury protection, or PIP, insurance system are coming soon. Several legislators say the state, medical providers and consumers have all suffered from too much fraud in recent years and that the new law will return PIP to its original purpose of providing benefits for emergency treatment after auto accidents. The new law is intended to lower insurance rates and ease the burden of PIP litigation on Florida courts.
Auto Insurance Premiums
According to The News-Press, ...
Mediation -- It's up to You
2012-04-21
Mediation -- It's up to You
Using mediation in divorce and family law disputes can result in settlements that stand the test of time. Studies show that mediated agreements result in the least number of reappearances in court. In divorce mediation, the divorcing couple uses a neutral third party to negotiate between themselves on issues such as property division, child custody and alimony.
Mediation is not for everyone, however. Some situations demand zealous representation by a Massachusetts divorce lawyer because of the emotionally charged nature of divorce cases. ...
Uncovering Hidden Assets in Divorce
2012-04-21
Uncovering Hidden Assets in Divorce
While no one likes to think they could be defrauded by their spouse, even under the worst circumstances, asset concealment during divorce is relatively common. Some spouses hide assets for purely financial reasons, perhaps fearing that they will not have enough to get by on after the divorce; others engage in asset concealment for other reasons, such as feelings of entitlement or a desire to seek revenge.
Divorcing spouses hide assets from one another in a wide variety of ways, ranging from highly sophisticated to deceptively simple. ...
LAST 30 PRESS RELEASES:
Scientists trace microplastics in fertilizer from fields to the beach
The Lancet Obstetrics, Gynecology, & Women’s Health: Taking paracetamol during pregnancy does not increase risk of autism, ADHD or intellectual disabilities, confirms new gold-standard evidence review
Taking paracetamol during pregnancy does not increase risk of autism, ADHD or intellectual disabilities
Harm reduction vending machines in New York State expand access to overdose treatment and drug test strips, UB studies confirm
University of Phoenix releases white paper on Credit for Prior Learning as a catalyst for internal mobility and retention
Canada losing track of salmon health as climate and industrial threats mount
Molecular sieve-confined Pt-FeOx catalysts achieve highly efficient reversible hydrogen cycle of methylcyclohexane-toluene
Investment in farm productivity tools key to reducing greenhouse gas
New review highlights electrochemical pathways to recover uranium from wastewater and seawater
Hidden pollutants in shale gas development raise environmental concerns, new review finds
Discarded cigarette butts transformed into high performance energy storage materials
Researchers highlight role of alternative RNA splicing in schizophrenia
NTU Singapore scientists find new way to disarm antibiotic-resistant bacteria and restore healing in chronic wounds
Research suggests nationwide racial bias in media reporting on gun violence
Revealing the cell’s nanocourier at work
Health impacts of nursing home staffing
Public views about opioid overdose and people with opioid use disorder
Age-related changes in sperm DNA may play a role in autism risk
Ambitious model fails to explain near-death experiences, experts say
Multifaceted effects of inward foreign direct investment on new venture creation
Exploring mutations that spontaneously switch on a key brain cell receptor
Two-step genome editing enables the creation of full-length humanized mouse models
Pusan National University researchers develop light-activated tissue adhesive patch for rapid, watertight neurosurgical sealing
Study finds so-called super agers tend to have at least two key genetic advantages
Brain stimulation device cleared for ADHD in the US is overall safe but ineffective
Scientists discover natural ‘brake’ that could stop harmful inflammation
Tougher solid electrolyte advances long-sought lithium metal batteries
Experts provide policy roadmap to reduce dementia risk
New 3D imaging system could address limitations of MRI, CT and ultrasound
First-in-human drug trial lowers high blood fats
[Press-News.org] Financial Considerations for Divorce or Dissolution in WashingtonAs you prepare to divorce, the financial aspects of the divorce process can be the hardest to overcome. This is especially difficult if one person has a much better handle on the family finances.