Family Law Blog
Family Law
Navigating Family Law Matters During Rosh Hashanah: Insights from a Family Law Attorney
As Rosh Hashanah approaches, Jewish families prepare to usher in a new year filled with hope, reflection, and renewal. This sacred holiday is an opportunity to consider how we can strengthen our relationships and align our actions with our values. For those facing family law matters—whether divorce, custody disputes, or estate planning—Rosh Hashanah is a meaningful moment to reassess, reset, and renew our commitment to family harmony. A Time for Reflection and Reconciliation Rosh Hashanah's themes of introspection and reconciliation resonate deeply in family law. This period encourages us to reflect on the health of our family relationships. Are there unresolved conflicts that need attention? For example, if you're navigating a divorce or custody dispute, consider initiating open dialogues or seeking mediation to address these issues constructively. Reflecting on how to approach these matters with empathy and understanding can provide clarity and pave the way for more amicable resolutions. Embracing Teshuvah in Family Law The concept of teshuvah (repentance or return) is central to Rosh Hashanah and can guide the resolution of family law matters. In a legal context, teshuvah may involve mediation or collaborative divorce, where both parties work together to reach a fair agreement. For separated or divorced parents, teshuvah can mean recommitting to co-parenting with kindness and respect. Common challenges, such as difficulty communicating or differing parenting styles, can be addressed through parenting coordination or counseling. These approaches not only reduce conflict but also model positive behavior for the next generation. Renewal Through Estate Planning Rosh Hashanah is also an ideal time to consider the future. For many, this season of renewal is an opportunity to review or update estate plans. Stephanie F. Lehman, Executive Advisor to the Family Law Practice Group at Offit Kurman, highlights the importance of regularly revisiting these plans: "Life changes—such as marriage, divorce, birth, or death—often require adjustments to wills, trusts, or guardianship designations." Schedule a review with your attorney to ensure your estate plan reflects your current wishes. Common updates might include changing beneficiaries, adjusting asset distributions, or revising guardianship designations. Prioritizing Clear Communication and Harmony As families gather during Rosh Hashanah, it's a good time for open, honest conversations about important issues like prenuptial agreements or future care plans for aging parents. These discussions, grounded in mutual respect, can prevent misunderstandings and foster a sense of security and peace of mind. Addressing potential concerns early, such as planning for long-term care or discussing financial responsibilities, can help avoid conflicts and ensure that everyone's needs are met. Focusing on the Best Interests of Children For families navigating divorce or custody disputes, Rosh Hashanah serves as a reminder to prioritize the best interests of the children. This holiday offers a chance to reassess parenting plans and schedules to ensure they meet the children's needs. It's also a time to model forgiveness, flexibility, and cooperation, demonstrating to children that even amid conflict, their well-being remains paramount. Strategies such as regular parenting plan reviews or involving a child specialist can help align parenting arrangements with children's evolving needs. Moving Forward with Hope Rosh Hashanah teaches us that every ending is also a new beginning. For those facing challenging family law issues, this holiday encourages us to create positive change, find common ground, and move forward with hope. Whether resolving disputes amicably, planning thoughtfully for the future, or nurturing our most important relationships, Rosh Hashanah inspires us to embrace renewal. Shanah Tovah Umetukah—Wishing you a Good and Sweet New Year filled with renewal and harmony.
October 2, 2024
Family Law
Understanding Alimony in Maryland: Types, Factors, and How It's Awarded
When a marriage ends, financial considerations often play a significant role in the divorce process. One key financial aspect is alimony, also known as spousal support. Alimony provides financial assistance to a spouse who may be at an economic disadvantage post-divorce, helping them to transition to their new circumstances. In Maryland, courts award alimony based on specific guidelines and factors to ensure a fair outcome for both parties. This blog explores how alimony is awarded in Maryland and what factors influence the court's decision. Types of Alimony in Maryland Maryland law recognizes three primary types of alimony: Temporary Alimony (Pendente Lite): Awarded during divorce proceedings, temporary alimony helps the financially dependent spouse maintain stability until a final decision is reached. This type of alimony ensures that immediate financial needs are met while the divorce is ongoing. Rehabilitative Alimony: This is the most common type awarded in Maryland. It is intended to provide financial support for a specific period, allowing the recipient to become self-sufficient through education, training, or employment. The goal is to equip the recipient with the skills or resources necessary to achieve financial independence. Indefinite Alimony: In some cases, the court may award indefinite alimony when the recipient spouse cannot reasonably be expected to become self-supporting. This type is less common and is typically granted when there is a significant disparity in earning capacities or if the recipient is of advanced age or has health conditions that prevent self-sufficiency. Understanding these types of alimony is crucial as they set the stage for how courts assess individual cases. Factors Influencing Alimony Awards When determining whether to award alimony, as well as the amount and duration of the payments, Maryland courts consider several key factors: Ability to be Wholly or Partly Self-Supporting: The court examines the recipient's potential to gain employment or improve their financial situation through education or training. Time Necessary to Gain Sufficient Education or Training: The court considers how long it will take for the recipient to acquire the skills needed to become self-supporting. Standard of Living During the Marriage: The court aims to maintain a standard of living for the recipient that is reasonably comparable to that enjoyed during the marriage. Duration of the Marriage: Longer marriages are more likely to result in alimony awards, particularly indefinite alimony, especially when there is a significant disparity in earning capacities. Contributions to the Family: The court evaluates the monetary and non-monetary contributions made by each spouse, including homemaking and child-rearing responsibilities. Circumstances Leading to Estrangement: Fault-based factors, such as adultery or abuse, may be considered when determining alimony awards. Age and Physical and Mental Condition: The court assesses the physical and mental condition of both spouses health and age of both spouses, as these factors can impact the recipient's ability to become self-supporting. Paying Spouse's Ability to Meet Their Own Needs: The court ensures that the paying spouse can afford the alimony payments without undue hardship. Agreements Between the Parties: Any prenuptial or postnuptial agreements may influence the court's decision regarding alimony. Conclusion: Alimony is a crucial aspect of divorce proceedings in Maryland, designed to provide financial support to a spouse in need. Understanding the various types of alimony, the factors that influence the court's decision, and the potential for modifying alimony awards can help individuals navigate this complex aspect of divorce more effectively. If you are facing a divorce and have questions about alimony, consulting with an experienced family law attorney can provide valuable guidance, ensuring your rights are protected.
September 26, 2024
Family Law
Divorce and the Professional Athlete: Managing Assets, Custody, and Public Scrutiny
Representing an athlete through a divorce requires a unique blend of legal expertise, emotional intelligence, and public relations savvy to guide a high-profile client through this complex and challenging period. Professional athletes live under constant public scrutiny and media attention, with their personal lives often under a microscope. This heightened visibility can add significant pressure during a divorce. To effectively advocate for their client's interests, legal representatives must understand and navigate this unique environment. Navigating Asset Division The legal landscape for divorcing athletes is intricate, with elements that differ from a typical divorce case. Professional athletes often possess substantial and complex asset portfolios, including endorsement deals, contracts, and investments. Accurately, valuing these assets and negotiating their division can be challenging. Recommendation: Work with professionals who specialize in high-net-worth divorces and understand the nuances of athletes' contracts, including potential future earnings. Determining spousal support or income for child support can be particularly complex, as factors such as the athlete's contract, endorsement deals, current income, future earning potential, age and health must all be considered. Custody Considerations When children are involved, their well-being is paramount. Navigating custody arrangements requires sensitivity and an understanding of how the athlete's career demands may impact their parenting. Recommendation: A creative attorney will collaborate with child psychologists or family counselors to develop a custody schedule that prioritizes the children's emotional needs while accommodating the athlete's career obligations. Managing Public Scrutiny The athlete's personal life will likely attract significant media attention, making the management of public perception and privacy a critical aspect of representation. Developing a proactive media strategy is essential for controlling the narrative, and the sooner this is implemented, the better. Recommendation: This strategy may include preparing public statements, managing press inquiries, and addressing rumors before they escalate. It's vital for the divorce legal team to work with a PR team experienced in handling high-profile cases to mitigate potential damage to the athlete's public image and their family. Ensuring the client's privacy during the divorce process is also paramount, which includes managing court documents and legal filings to minimize leaks and public scrutiny. Virtual platforms like Zoom and Teams can also provide a secure way for athletes to meet with their attorneys without the risk of paparazzi intrusion. Emotional Support Divorce can take a significant emotional toll, particularly for those in the public eye. Athletes may experience heightened stress due to media scrutiny, public pressure, and potential career impacts. Providing emotional support is as important as legal representation. Recommendation: Encouraging athletes to seek counseling or therapy can provide a valuable outlet for dealing with the emotional strain; a support network of trusted friends, family, and mental health professionals can be instrumental in this process. It is essential to help the athlete stay focused on their career and personal well-being during the divorce process, which may involve collaborating with their coaching and management teams to ensure their professional commitments are managed effectively. Strategic Future Planning Divorce can have significant and long-lasting implications for an athlete's career and personal life, making strategic planning for the future essential. Assessing how the divorce may impact the athlete's career trajectory, endorsements, and public image is important. Recommendation: Developing strategies to mitigate potential negative effects is crucial for preserving their professional reputation. Additionally, post-divorce financial planning should address changes in income, expenses, and asset distribution. Collaborating with financial advisors to develop a robust plan for managing their finances is vital for long-term stability. Conclusion In summary, representing a professional athlete through a divorce requires a comprehensive approach that integrates legal, emotional, and public relations considerations. By understanding the unique aspects athletes face — such as complex asset portfolios, custody arrangements, and the need for media management — legal representatives can effectively navigate this difficult period. Ultimately, the goal is to protect the athlete's interests while preserving their personal and professional integrity in this high-stakes process. Implementing these recommendations can enhance the effectiveness of representation and support the athlete through this challenging transition.
September 25, 2024
Family Law
Navigating the Division of Private Investments in a New Jersey Divorce: A Simplified Guide
Divorce can be a complex process, especially when dividing financial assets. The process can seem even more daunting for those who own private investments, such as shares in a closely held business or investment partnerships. If you're facing a divorce in New Jersey and have private investments, understanding how these assets are divided can help you navigate this challenging time with more confidently. Here's a straightforward guide to help you through the process. What Are Private Investments? Private investments are assets that are not traded on public exchanges. They can include: Shares in Private Companies: Owning stock in a company that is not publicly traded, is considered a private investment. Partnership Interests: Investments in business partnerships or joint ventures. Real Estate Ventures: Investments in real estate projects that are not part of a publicly traded real estate investment trust (REIT). How Are Private Investments Divided in a New Jersey Divorce? In New Jersey, divorce laws require that marital assets be divided fairly, which is known as "equitable distribution." This doesn’t always mean a 50/50 split but rather a fair division based on various factors. Here's a step-by-step look at how private investments are typically handled: Identify the Investments: The first step is to identify all private investments owned by either spouse. This involves compiling detailed information about each investment, including its value, ownership percentages, and any relevant agreements or documentation. Determine the Value: Valuing private investments can be more complicated than valuing publicly traded stocks. Since private investments are not publicly traded, they lack a clear market value. You might need to hire financial experts or appraisers specializing in valuing such assets. They will consider factors like the company's financial statements, revenue, profits, and market conditions to estimate a fair value. Assess the Marital Portion: Only the portion of the private investment acquired during the marriage is subject to division. If the investment was made before the marriage, its pre-marital value is generally considered separate property. However, any increase in value during the marriage is typically divided if the asset requires the active efforts of either spouse. This can be particularly complex if the investment has appreciated significantly over time. Consider the Type of Investment: Different types of private investments might require different approaches:Business Interests: If one spouse owns a business, determining its value and dividing ownership can be particularly intricate. The court may consider whether the business was started before or during the marriage and how much of the business’s value is attributable to the marital period. Partnerships: If you are a partner in a business, your share might be divided based on the partnership agreement or subscription agreement, which might outline how to handle such situations. Negotiate and Reach an Agreement: Once the value of private investments is determined, you and your spouse can negotiate how to divide these assets. This might involve selling the investment and splitting the proceeds, or one spouse might buy out the other’s share. Another option to consider may be a transfer of shares directly to your spouse (if permitted) or an offset against another marital asset. Negotiations should be guided by fairness and consider each party’s financial and non-financial contributions to the marital enterprise. Legal and Tax Considerations: Dividing private investments can have tax implications. It’s important to consult with tax professionals to understand the potential tax consequences of transferring ownership or selling investments. Legal advice can also ensure that all agreements comply with New Jersey divorce laws and are properly documented. Asset Protection and Estate Planning Considerations: It is also extremely important to consider how any division may impact your asset protection plan and/or your estate planning objectives. Seek Professional Guidance Given the complexity of valuing and dividing private investments, it’s advisable to work with professionals who have a deep understanding of these areas. Financial advisors, business valuators, and seasoned matrimonial attorneys can offer valuable guidance and help ensure that your interests are protected. Conclusion Dividing private investments during a divorce in New Jersey involves a careful assessment of their value, understanding which portions are subject to division, and navigating the complexities of asset division. While the process can be intricate, you can work towards a fair and equitable resolution with the right support and a clear understanding of your assets. If you’re facing a divorce and are unsure how to handle private investments, we strongly recommend consulting with a knowledgeable family law attorney licensed in your jurisdiction, as every case is unique and fact-sensitive. With the right expertise, you can manage this challenging aspect of divorce and move forward with greater clarity and confidence. If you would like to discuss your matter or have any questions, please contact Rawan Hmoud, Esq. by email at rhmoud@offitkurman.com or by phone at D: 347-589-8528. In addition to her more than 17 years of experience in family law, Ms. Hmoud is the Practice Group Leader of the Family Law North group at Offit Kurman, PA. She works with a team of matrimonial attorneys covering New Jersey, New York, Pennsylvania, and our Asset Protection and Estates and Trusts teams.
September 5, 2024
Family Law
New Jersey vs. California: A Divorce Law Comparison Through JLo and Ben's Separation
Recent media coverage has been swirling with rumors surrounding Jennifer Lopez (JLo) and Ben Affleck’s separation. On August 20, 2024, it was reported that JLo filed for divorce in California, where they both primarily reside, after just two years of marriage. While the separation was not unexpected, it came as a surprise that JLo and Ben did not have a prenuptial agreement prior to walking down the aisle in July 2022. Without a prenuptial agreement, the earnings, profits, and assets acquired during the marriage are subject to division. In determining how marital property should be divided, courts will consider a variety of factors, which can differ depending on the state where the divorce is filed. While their divorce is being filed in California, exploring how New Jersey would handle a similar situation offers an interesting perspective on the differences in divorce law across states. Unlike California, which is a community property state where marital assets are generally divided 50/50, New Jersey follows an "equitable distribution" model, meaning that marital property is divided in a manner deemed fair based on the circumstances — not necessarily equally. Equitable Distribution in New Jersey If this matter were pending in New Jersey, the allocation of marital assets between spouses would be governed by N.J.S.A. 2A:34-23.1, regardless of ownership. Unlike California, New Jersey is an equitable distribution state, meaning that marital property is not necessarily divided equally but, in a manner, deemed fair based on the circumstances. In conducting an equitable distribution analysis, New Jersey courts follow a three-step process: Identification: The court first identifies the specific property and liabilities of each spouse that are subject to distribution. Valuation: The court then determines the value of this property. Distribution: Finally, the court analyzes and decides how to distribute the property fairly. At Step 3, the court has broad discretion to determine the most equitable way to distribute marital assets, guided by the factors outlined in N.J.S.A. 2A:34-23.1. Among the 16 factors considered, the most important include: The length of the marriage. The economic circumstances of both parties. Each party’s financial and non-financial contributions to the marriage. Additional factors such as the age and health of both parties, the standard of living established during the marriage, and the tax consequences of proposed distributions. Considerations for High-Profile Divorces For high-profile clients like JLo and Ben, a New Jersey court might consider a variety of assets when determining the distribution of their assets and liabilities. This list includes, but is not limited to: The earnings from films in which either party starred or was involved as a director/producer during the marriage. For Ben, this includes films such as Air and Hypnotic, This Is Me… Now: A Love Story, Small Things Like These, Kiss The Future, The Greatest Love Story Never Told, The Instigators, and The Accountant 2, while JLo’s films include Shotgun Wedding, The Mother, This Is Me… Now: A Love Story, and Atlas[1]. The court would also take into account their Beverly Hills home, Promotional contracts, streaming dividends, and royalties earned during the marriage. In certain circumstances, the appreciation of separate property may be considered a marital asset subject to equitable distribution. However, given the short duration of JLo and Ben’s marriage, it is uncertain whether a New Jersey court would divide any increase in the value of their separate property or premarital assets. Typically, prenuptial agreements address this issue directly and provide protection against such outcomes. How New Jersey Differs from Other States It is important to note that each state’s approach to divorce can differ significantly. For instance, New York, like New Jersey, is an equitable distribution state but has its own unique guidelines and considerations that could lead to different outcomes. These variations emphasize the importance of understanding the nuances of divorce law in your jurisdiction. Protect Your Interests: Consult with a Family Law Attorney High-profile cases like this often involve complex financial portfolios and unique challenges that require careful planning and attention. If you’re concerned about protecting your assets or understanding how your property might be divided in a divorce, we strongly recommend consulting with a knowledgeable family law attorney licensed in your jurisdiction, as every case is unique and fact-specific. If you would like to discuss your matter or have any questions, please contact us by email at emily.ingall@offitkurman.com and rhmoud@offitkurman.com or by phone at 929-476-0046 or 347-589-8528. [1] This list may not be all-encompassing and may not include unreleased projects.
August 28, 2024
Family Law
Back to School! Now What?
As summer comes to a close and children prepare to return to school, many divorced or separated parents find themselves facing the need to adjust their custody schedules. The shift from the more relaxed, flexible summer arrangements to the structured routine of the school year can be challenging. Understanding how custody schedules can change during this transition and planning accordingly can help ensure a smooth adjustment for parents and children. What is the best way to address these changes? Below are a few tips to facilitate a smooth transition back into the school year. Communicate Early and Often: Open communication between parents is not just important; it’s essential. Discuss potential custody changes well before the school year begins. Regular check-ins can help address any concerns and ensure both parents are on the same page, providing a sense of reassurance and keeping everyone well-informed. Create a Detailed Plan: A detailed custody plan can prevent misunderstandings and conflicts. The plan should outline the daily schedule, transportation arrangements, responsibilities for extracurricular activities, and any other relevant details. Be Flexible and Cooperative: Flexibility and cooperation are not just helpful but key to successful co-parenting. Be willing to adjust as needed and consider each other's work schedules, commitments, and the child's needs. This approach empowers you to control the situation and work together for the best outcome for your child. Prioritize the Child's Best Interests: Always keep the child's best interests at the forefront of any decisions. Stability, consistency, and a supportive environment are crucial for the child's well-being and academic success. This responsibility and care for your child's needs should guide all your decisions. Seek Mediation or Legal Assistance if Necessary: If parents cannot agree on custody schedule changes, seeking mediation or legal assistance may be necessary. A mediator or family law attorney can help facilitate discussions and find a resolution for everyone involved. Adjusting custody schedules when children return to school can be a complex process. Still, parents can navigate this transition smoothly with careful planning, open communication, and a focus on the child's best interests. By working together and being flexible, parents can ensure their children have the stability and support they need to thrive academically and emotionally. If you need assistance modifying a custody schedule, consulting with an experienced family law attorney can provide valuable guidance and help protect your rights as a parent.
August 15, 2024
Family Law
How to Value a Startup Business in a Divorce
Startups differ from mature businesses in that they are typically in the early stages of development, often with unpredictable revenue streams, high growth potential, and significant risk. This makes traditional valuation methods, which rely heavily on historical financial data, less effective. There are key aspects to consider when valuing a startup, which includes: Stage of Development: Is the startup in its seed stage, early stage, or growth stage? Revenue and Earnings: Startups may have little to no revenue or earnings, which affects the valuation approach. Business Model: Understanding the business model is critical as it determines the potential for future profitability. There are several methods to value a startup in a divorce, each with its own set of assumptions and applicability: Income Approach (Discounted Cash Flow—DCF): This approach involves projecting the startup's future cash flows and discounting them to their present value. However, due to startups' speculative nature, this method can be challenging and may require adjustments to account for higher risks. Market Approach: This method involves comparing the startup to similar businesses that have been recently sold. In the context of a startup, this could mean looking at other startups in the same industry and stage of development. However, finding comparable companies can be difficult, and the market approach often requires significant adjustments. Asset-Based Approach: This approach focuses on the value of the startup's assets, including intellectual property, equipment, and other tangible or intangible assets. For startups, this might undervalue the business, especially if the company's value is tied more to future potential than current assets. Venture Capital Method: Investors often use this method to value startups. It involves estimating the startup's exit value (the amount for which the startup could be sold in the future) and working backward to determine the present value. This method can be helpful but relies heavily on assumptions about future performance. Cost to Duplicate: This method calculates the cost of reviving the startup from scratch. While this may not reflect the market value, it can provide a baseline for valuation. When valuing a startup in a divorce, several personal and business factors must be considered: Ownership Structure: If the startup has multiple co-founders, the ownership percentage of the spouse involved in the divorce needs to be clearly defined. Role of the Spouse: The spouse's involvement in the startup (whether as a co-founder, employee, or passive investor) can affect the valuation and how the business is treated in the divorce. Legal Agreements: Any pre-existing agreements, such as prenuptial or postnuptial, can influence how the startup is valued and divided. Impact on Business Operations: The divorce may affect the startup's operations, especially if both spouses are involved. The potential implications for business continuity should be considered in the valuation. Given the complexities involved in valuing a startup, hiring a professional business valuator with experience in startups and divorce cases is often advisable. A qualified expert can provide a more accurate and unbiased valuation, which ensures a fair settlement. Once the startup's value has been determined, the next step is negotiating how that value will be divided. This can involve various options, such as: One spouse buys out the other's interest in the business. Selling the business and dividing the proceeds. Offsetting the value of the startup with other marital assets. Valuing a startup in a divorce is a complex process that requires a thorough understanding of the business and the personal dynamics involved. Each valuation method has pros and cons, and the most appropriate approach depends on the specific circumstances of the startup and the divorce. Engaging a professional valuator and carefully considering all factors can help ensure the process is fair and equitable for both parties. Ultimately, the goal is to achieve a valuation that reflects the startup's true worth, considering the unique challenges it presents in the context of a divorce.
August 13, 2024
Family Law
Traveling Abroad with Children During a Divorce: What You Need to Know
Understanding the legal requirements is one of the first and most critical steps in planning an international trip with your children during a divorce. Custody and Visitation Agreements: Review your custody and visitation agreements carefully. These documents will outline the rights of both parents regarding the children's travel. If your agreement restricts travel or requires the other parent's consent, you must follow these terms to avoid legal complications. Obtaining Consent: In most cases, you'll need the other parent's consent to travel abroad with your children. This consent should be in writing and include trip details, such as dates, destinations, and contact information. Some countries require this written consent when entering or leaving the country. Court Orders: If you cannot obtain the other parent's consent, you may need to seek a court order allowing you to travel. The court will consider whether the trip is in the children's best interest and whether it disrupts the other parent's visitation rights. Passports: Ensure that your children's passports are up to date. Both parents must usually sign a child's passport application unless one parent has sole legal custody. If your ex-spouse refuses to cooperate, you may need to go to court to obtain a passport. The Hague Convention: If you're traveling to a country that is a signatory to the Hague Convention on International Child Abduction, be aware of the legal protections this treaty provides. It helps prevent one parent from wrongfully retaining a child in a foreign country. Be very cautious if a parent wants to travel to a country that is not a signatory to the Hague Convention on International Child Abduction. Once the legal matters are settled, focus on planning the logistics of your trip. Itinerary and Contact Information: Share your complete travel itinerary, including flight information, accommodation details, and contact numbers, with the other parent. This transparency helps build trust and ensures both parents know the children's whereabouts. Emergency Contacts: Provide the other parent with emergency contact information, including local contacts in the destination country, the nearest U.S. embassy or consulate, and the children's healthcare providers. Healthcare Considerations: Ensure you have all necessary medical documents, including prescriptions, insurance information, and vaccination records. It's wise to have travel insurance that covers your children for the trip. Traveling during a divorce can sometimes lead to conflicts, especially if communication between you and your ex-spouse is strained. Conflict Resolution: Approach any disputes calmly and rationally. If a disagreement arises over travel plans, consider mediation to resolve the issue without escalating tensions. Respect Boundaries: Respect the other parent's boundaries and rights. Make sure to discuss them with your ex-spouse before making any last-minute changes to the travel itinerary. Legal Recourse: If conflicts cannot be resolved amicably, it may be necessary to seek legal advice or intervention. Always prioritize the best interests of your children in any legal action. Traveling abroad with your children during a divorce requires careful planning and consideration. Adhering to legal requirements, addressing your children's emotional needs, and maintaining open communication with the other parent can ensure the trip is a positive experience for everyone involved.
August 13, 2024
Family Law
Protecting Your New Home During Divorce: What You Need to Know
When you are separated and going through a divorce, whether in New Jersey or almost anywhere in the United States, you need to be mindful of any assets you acquire prior to a divorce decree being signed by a judge and the entry of an accompanying Order disposing of all marital property. In New Jersey, property acquired after separation is generally considered non-marital. However, it could be considered marital if the source of funds used to acquire the real estate were marital property (i.e., saved/acquired during the marriage). For example, if you are separated and use funds from a credit union account that accrued during the marriage for a down payment, that condominium would be considered marital property and subject to equitable distribution. This means your spouse could have a claim to the condominium, and any earnings and losses from the investment may also be considered marital and subject to equitable distribution. Using the tracing method, you can determine the origination of the down payment. To safeguard a post-separation acquisition is not considered marital property, it is best to use only funds earned after separation. Alternatively, if you need to use funds that are part of the marital estate, consult with your counsel and obtain consent from the other party or the Court to use such funds as a credit against your share of equitable distribution before making the purchase. It is important to keep all documentation to trace and demonstrate the source of funds used for the purchase, thereby protecting your post-separation property from any claims by your spouse. Every case is unique. The information above is generally applicable, but it is important to consult with a seasoned family law attorney in the state in which you live. By taking these precautions, you can better safeguard your post-separation acquisitions and ensure a fair distribution of marital assets during the divorce process.
August 7, 2024
Family Law
My Spouse Had an Affair. What Rights Do I Have?
A question divorce attorneys are frequently asked is, “how will my spouse’s affair impact my divorce?” There are a few things to consider when dealing with adultery in divorce proceedings. Grounds for Divorce. As of October 2023, adultery is no longer grounds for divorce in Maryland. In fact, Maryland has abolished its fault-based grounds for divorce and now only recognizes three no-fault grounds: 6-month separation, irreconcilable differences, and mutual consent. Alimony. A judge will evaluate several factors when considering whether or not to award a party alimony, including the duration and amount. One of the factors is the circumstances leading to the divorce. This is where adultery comes into play. If your spouse had an affair, and financial support is necessary to maintain a reasonable standard of living or to become self-supporting, proving adultery could be an important factor in your alimony case. Property Division. Similar to alimony, property division is a factor-based inquiry where fault, including adultery, is considered. The court will analyze a multitude of factors when determining how to divide marital property, so it is important to address each factor that is relevant to your claim, including your spouse’s affair. Custody. Contrary to what most believe, adultery does not weigh heavily on a court’s decision about custody of minor children. It is often the case that someone can be a poor spouse but a good parent. However, suppose the adulterer is making poor judgment decisions about the children due to their extramarital affair (for example, taking the children to bars or leaving them unattended to spend time with a paramour). In that case, a court may weigh this behavior when determining parental fitness. It is hard enough to face the reality of dissolving a marriage, but finding out your spouse is having an affair will make an already difficult situation almost impossible. The emotional aspect of adultery is one of the biggest hurdles to a successful, amicable divorce. That is why it is important to have an experienced, skilled attorney who can objectively evaluate each fact related to your case to help you achieve a favorable outcome.
July 29, 2024
Family Law
Child Privilege Attorney in Divorce: Protecting Confidentiality and Best Interests
A Child Privilege Attorney (CPA) is a legal professional appointed to protect a child's privilege, or right to confidentiality, concerning therapeutic and counseling communications. This role is vital in divorce cases where parents may seek access to the child’s therapy records to support their custody claims or other aspects of the divorce. The Role and Responsibilities of a Child Privilege Attorney Confidentiality Advocacy: A CPA's primary responsibility is to determine whether a child's confidential communications with their therapist or counselor should be disclosed in a court proceeding. A goal of the CPA is to preserve the child’s ability to speak openly without fear that their disclosures will be used against them or their parents in court. Legal Representation: CPAs represent the child in legal proceedings, arguing the issue of privileged information. They may file motions to quash subpoenas or resist the disclosure of therapy records. Balancing Interests: While prioritizing the child's confidentiality, CPAs also consider the child's overall best interests. This might involve selectively disclosing certain information if it is deemed crucial for the child’s welfare and with appropriate safeguards. Collaborating with Therapists: CPAs work closely with the child's therapist to understand the nature of the communications and determine which parts should remain confidential. Factors in determining whether or not to waive a Child’s Privilege in Divorce Encouraging Open Communication: Children are likelier to engage honestly in therapy if they know their disclosures are private. This openness is crucial for effective mental health treatment. Protecting Mental Health: Exposure of therapy records can retraumatize children, damaging their mental health and trust in the therapeutic process. Preventing Manipulation: In contentious divorces, parents might attempt to use therapy records to manipulate custody outcomes. CPAs help prevent such misuse by safeguarding privileged information. History of Abuse or Neglect: In cases involving abuse or neglect, maintaining the child’s confidentiality can be crucial for their safety and emotional well-being. However, it may be necessary to waive to inform the court of allegations made by a child in therapy. Challenges Faced by Child Privilege Attorneys Complex Legal Landscape: Navigating the legal complexities surrounding privilege and confidentiality in family law requires a deep understanding of mental health and legal principles. Parental Opposition: CPAs often face resistance from parents who believe that accessing therapy records is, or is not, in their child’s best interests. Judicial Discretion: Judges have considerable discretion in determining whether to uphold or override privilege, making the CPA’s advocacy crucial but not always determinative. Balancing Transparency and Confidentiality: Striking the right balance between necessary disclosures and maintaining confidentiality can be challenging, especially in high-stakes custody battles. An experienced Child Privilege Attorney may be appropriate in divorce proceedings, ensuring their right to confidential therapeutic communications is protected. By safeguarding this privilege, CPAs play a critical role in promoting the child’s mental health, preventing the misuse of sensitive information, and ultimately ensuring that the child's best interests remain the central focus of divorce proceedings. As awareness of this role grows, CPAs are likely to become an increasingly integral part of family law, offering children the protection and advocacy they deserve during one of life's most challenging times.
July 11, 2024
Family Law
What Happens to the Marital Home During Divorce?
The marital home is often one of the most significant and emotionally charged assets in a divorce. Deciding what happens to the home can be a complex and contentious process involving both financial considerations and personal attachments. There are options with regard to the Marital Home, including: Selling the HomePros: Selling the marital home is a common option, as it allows both parties to liquidate the asset and divide the proceeds. This option can give both parties a clean break and financial resources to start anew. Cons: Selling a home can be time-consuming and emotionally challenging. Additionally, market conditions may affect the sale price, potentially leading to financial losses. One Spouse Buys Out the OtherPros: If one spouse wishes to keep the home, they can buy out the other spouse’s share. This option allows one party to maintain stability, particularly if children who benefit from staying in the same home and school district are involved. Cons: The buying spouse must have the financial resources to afford the buyout, which can be substantial. Additionally, refinancing the mortgage in one spouse’s name may be necessary, which could be challenging depending on their financial situation. Co-Ownership Post-DivorcePros: In some cases, divorcing couples may agree to continue co-owning the home temporarily. This arrangement can be beneficial if the housing market is unfavorable, or the children’s needs are prioritized. Cons: Co-ownership requires ongoing cooperation and communication, which can be difficult post-divorce. There is also the risk of future disputes over maintenance costs, mortgage payments, and eventual sale. Deferred Sale (Nesting)Pros: Deferred sale or “nesting” involves spouses taking turns living in the home while the children remain there full-time. This arrangement provides stability for the children and allows both parents to share in the responsibilities of the home. Cons: This arrangement requires significant coordination and ongoing communication. It is typically a short-term solution until a more permanent arrangement can be made. Some factors may be considered in determining what to do with the Marital Home, including: Financial ConsiderationsEquity and Mortgage: The home’s equity and the remaining mortgage balance will significantly impact the decision. Both parties must consider whether they can afford the mortgage, maintenance, and associated costs. Credit and Financing: Refinancing the mortgage in one spouse’s name requires good credit and sufficient income. This step is crucial if one spouse plans to buy out the other or keep the home. Children’s NeedsStability and Continuity: If children are involved, their need for stability and continuity will be a significant consideration. Keeping the marital home may be beneficial to minimize disruption to their lives. Emotional AttachmentsPersonal Value: The emotional attachment to the home can influence decisions. It’s essential to balance emotional factors with practical financial considerations. Legal AgreementsPrenuptial and Postnuptial Agreements: Any existing agreements will play a role in determining the outcome. These documents may specify what happens to the marital home in the event of a divorce. State LawsCommunity Property vs. Equitable Distribution: State laws vary in dividing marital property. There are legal process options in determining what happens with the Marital Home, including: Negotiation and MediationCollaborative Approach: Many couples resolve the fate of the marital home through negotiation or mediation. This collaborative approach allows for more flexibility and control over the outcome. Court DecisionJudicial Ruling: The court will decide if the couple cannot agree. The judge will consider various factors, including financial circumstances, children’s needs, and each party’s ability to maintain the home. Deciding what happens to the marital home during a divorce is a complex process that requires careful consideration of financial, emotional, and legal factors. Each option—selling the home, one spouse buying out the other, co-ownership, or deferred sale—has pros and cons. The decision should be guided by the best interests of both parties and any children involved, aiming for a resolution that provides stability and fairness.
July 11, 2024
Family Law
Navigating LGBTQ+ Divorce: Unique Legal Considerations
With the 2015 decision in Obergefell v. Hodges, same-sex marriage has been recognized nationwide for nearly ten years. But what about same-sex couples who partnered through civil unions or other means 10, 20, or even 30 years prior to Obergefell? This is an important consideration when navigating LGBTQ+ divorce. Some couples married “on paper” for only nine years may be entitled to benefits from the relationship spanning beyond those years. In some jurisdictions, an argument can be made to divide what would otherwise be considered non-marital property in favor of the non-owning spouse if they were a contributor to the asset prior to marriage. For example, say a same-sex couple had been living together since 1995 and promptly got married in the District of Columbia once same-sex marriage was legalized in 2010. From 1995 until 2010, the house they lived in was the separate property of one spouse, but for 15 years, the other spouse put his own money into renovations, decorated, furnished, and helped make the house into a home. In this scenario, it would be equitable for the court to treat the house as a marital asset, given the circumstances of the parties’ relationship and the contributions made by the non-owner spouse. In other words, it would be unfair to erase 15 years of dedication to a home and family solely because the couple was not legally allowed to marry until 2010. When divorcing as a same-sex couple, it is important to have an attorney who recognizes the unique issues LGBTQ+ couples face in the legal realm. Though we are making great strides for our community, the laws protecting us are still behind. Having an experienced LGBTQ attorney to identify and address these unique concerns is paramount to achieving a fair and equitable outcome.
June 21, 2024
Family Law
Dividing Luxury Personal Property
Divorce proceedings can be complex and emotionally charged, particularly when substantial assets are involved. Among the most challenging items to divide are luxury personal properties such as art, automobiles, yachts, and airplanes. These high-value assets not only represent significant financial investments but also often carry sentimental value and symbolize a particular lifestyle. Properly navigating the division of such assets requires a combination of legal acumen, financial expertise, and, sometimes, emotional resilience. The first step in dividing luxury personal property is to establish a fair and accurate valuation. Unlike more common marital assets, luxury items may require specialized appraisals. Several factors contribute to the value of these assets, including: Age and Condition: Similar to real estate, the age and current condition of the asset can significantly affect its market value. Regular maintenance and upgrades can preserve or even enhance their worth. Market Demand: The market for luxury assets is niche and fluctuates based on economic conditions and buyer interest. An expert appraiser will consider current market trends and comparable sales. Customization and Upgrades: Custom features, high-end materials, and state-of-the-art technology can increase the value of these assets. However, highly personalized modifications might appeal to a narrower pool of buyers, potentially impacting resale value. Engaging a certified appraiser who specializes in luxury assets is essential to ensure that both parties receive a fair assessment. Divorce laws vary by jurisdiction, but in many places, assets acquired during the marriage are subject to equitable distribution. Equitable does not necessarily mean equal; rather, it means fair. Courts consider various factors to determine an equitable distribution, including: Length of the Marriage: Longer marriages might result in a more even split of assets. Contributions to the Marriage: Contributions can be financial or non-financial, such as homemaking or supporting a spouse's career. Economic Circumstances: The current and future economic circumstances of each spouse are considered. If one spouse has significantly higher earning potential, this may influence the division. Negotiation and mediation can also play crucial roles in this process. Couples may agree on a division that reflects their unique circumstances, potentially avoiding the need for a court to decide. Once valuation and legal considerations are addressed, couples have several options for dividing luxury personal property: Sell and Split the Proceeds: Selling the asset and dividing the proceeds can be the simplest solution. However, this process can be time-consuming and may result in a sale below market value, particularly in a slow market. One Spouse Buys Out the Other: If one spouse has a strong attachment to the asset or a greater ability to maintain it, they may opt to buy out the other’s interest. This requires an accurate valuation and may involve refinancing or taking on debt. Joint Ownership Post-Divorce: Though less common, some couples agree to maintain joint ownership, especially if children are involved or if the asset is used for business purposes. Clear agreements and boundaries are essential to make this arrangement work. Trade-Offs with Other Assets: Another approach is to offset the value of the asset with other marital assets. For example, one spouse may retain the yacht while the other receives a comparable value in real estate, investments, or other property. Beyond financial and legal aspects, emotional and practical considerations can influence the division of luxury assets. Items such as yachts and airplanes are not just assets but lifestyle choices, often tied to cherished memories and social status. Couples must navigate these waters with sensitivity and pragmatism. Usage and Maintenance: Consider who used the asset more frequently and who is better equipped to handle ongoing maintenance costs and responsibilities. Sentimental Value: Acknowledge any sentimental attachment and weigh it against practical realities. Sometimes, letting go can be the healthiest choice. Future Needs: Consider each spouse’s future needs and lifestyle. For instance, if one spouse plans to relocate far from the coastline, retaining a yacht may be impractical. Dividing luxury personal property in a divorce is a multifaceted process that requires careful consideration of legal, financial, and emotional factors. By engaging experts, understanding legal frameworks, and negotiating with transparency and fairness, couples can reach an agreement that respects both parties' interests and paves the way for a smoother transition to the next chapter of their lives.
June 4, 2024
Family Law
Home State Jurisdiction and the UCCJEA: Ensuring Stability in Child Custody Matters
In the arena of family law, child custody disputes often present some of the most challenging issues. To provide clarity and uniformity across state lines, the Uniform Child Custody Jurisdiction and Enforcement Act (UCCJEA) was enacted. Central to the UCCJEA is the concept of "home state jurisdiction," which serves as the cornerstone for determining the appropriate jurisdiction for custody matters. Understanding the UCCJEA The UCCJEA, adopted by 49 states, the District of Columbia, Guam, and the U.S. Virgin Islands, aims to avoid jurisdictional competition and conflict in child custody matters. It establishes clear guidelines for courts to follow, ensuring that only one state exercises jurisdiction over a child custody case at any given time. This uniformity helps prevent parents from "forum shopping" for a more favorable court and minimizes legal conflicts across state borders. Home State Jurisdiction: The Primary Principle Home state jurisdiction is the principal basis for initial child custody determinations under the UCCJEA. The "home state" is the state where the child has lived with a parent or a person acting as a parent for at least six consecutive months immediately before the commencement of the custody proceeding. For children under six months old, the home state is where the child has lived since birth. This principle ensures that custody decisions are made in the state with which the child and family have the most significant connection, promoting stability and continuity for the child. Application of Home State Jurisdiction Initial Custody Determinations: The UCCJEA mandates that the home state has exclusive jurisdiction to make an initial custody determination. If no state qualifies as the home state, jurisdiction may be established in a state where the child and at least one parent have significant connections and where substantial evidence concerning the child's care, protection, training, and personal relationships is available. Significant Connection Jurisdiction: When no home state exists, a court may exercise jurisdiction if the child and a parent have a significant connection with the state and substantial evidence about the child's care is available there. This secondary basis for jurisdiction ensures that a court with meaningful ties to the child can make informed custody decisions. Emergency Jurisdiction: The UCCJEA allows for temporary emergency jurisdiction if the child is present in a state and has been abandoned or needs protection due to mistreatment or abuse. This provision ensures that urgent matters can be addressed promptly, even if another state is the child's home state. Modification of Custody Orders: The UCCJEA also governs the modification of custody orders. Generally, the state that made the original custody determination retains exclusive jurisdiction to modify its order unless it relinquishes jurisdiction or neither the child nor the parents have a significant connection with the state anymore. Enforcement Across State Lines One of the critical features of the UCCJEA is its provisions for enforcing custody determinations across state lines. Courts are required to enforce and not modify valid custody orders from other states, ensuring consistency and respect for judicial decisions across the country. Challenges and Considerations While the UCCJEA provides a comprehensive framework, applying its principles can still be challenging. Issues such as determining the child's home state in cases of frequent moves, addressing allegations of abuse, and coordinating between states require careful legal navigation. Additionally, the only state that has not adopted the UCCJEA is Massachusetts, which sometimes necessitates additional considerations when dealing with interstate custody matters involving this state. Should you have a matter involving interstate custody, consider contacting an experienced family lawyer to assist you with navigating your case.
June 4, 2024
Family Law
Should Your Wedding Checklist Include a Prenup?
Fans of The Golden Girls may remember the episode in which Dorothy decides to remarry her ex-husband, Stan. He’s the selfish, cheating, novelty salesman Dorothy had married as a teenager in a shotgun wedding. Although they are now divorced, Stan remains the bane of Dorothy’s existence. She calls him, without irony, a “yellow-bellied sleaze ball,” among other epithets. Dorothy’s decision to remarry Stan has Rose, Blanche, and Sophia all rolling their eyes. It is only on the day of the wedding, when Stan unexpectedly asks Dorothy to sign a prenuptial agreement, that she comes to her senses and calls it off. “I don’t want to make the same mistake twice,” she tells her disbelieving guests. A prenuptial agreement may be the least romantic thing an engaged couple can talk about. Simply bringing up the topic may arouse suspicion, suggesting a lack of good faith or an expectation of divorce. But rather than any want of sincerity, preparing a prenup can reflect a couple’s maturity and respect for each other. The process of sorting through the terms of the agreement may even bring them closer together. Under Maryland law, the separate assets each partner brings to a marriage belong to that person, even if the marriage ends in divorce. The assets they acquire during the marriage, however, would be divided equitably between them in the event of a breakup. A prenup is a contingency plan that enables the couple to say what that division should look like. For example, each partner could simply take what they separately contributed to the union and be on their way. Or the partner with greater assets could agree to support the other long enough for them to get back on their feet. The agreement can also say what happens to the family home. Should one partner be allowed to buy out the other’s interest in the house? Or should the property be sold and the proceeds divided according to the percentages each of them contributed to the down payment and mortgage installments? Children are another consideration. If one partner has children from a prior relationship, the agreement could allow him to bequeath his entire estate to them, rather than his new spouse. This provision would trump the surviving spouse’s legal right to take a third or more of the estate as her “spousal share.” If the couple already has children together, one or both spouses could agree to maintain life insurance for the children’s benefit while they are still minors. The one thing a prenup cannot dictate is custody of the parties’ own children in the event of divorce. Regardless of what provisions it includes, a prenuptial agreement can be a reassuring document to have in the fire safe. It’s a lot like the airbag in your car—you hope you’ll never have to use it, but you’ll be grateful to have it if the need arises. As a practical matter, that need may be more likely to arise for some couples than for others. With the arrival of same-sex marriage, many couples are tying the knot after having been together for years or even decades. These relationships have already withstood the test of time and are unlikely to end in divorce. But two people in a newer relationship may like the idea of a prenup so they can enter into marriage prepared for the unexpected. In the same way, couples who are significantly different in age, wealth, or level of education should give a prenuptial agreement serious consideration. Having children from a prior marriage is another circumstance in which a prenup may be advisable. If Dorothy Zbornak, already in her wedding dress, had gone ahead and signed Stan’s prenup, it probably wouldn’t have held up in court. Stan, ever the yutz, had neglected to follow some important formalities. First, the document should include full financial disclosures from both partners. Any omission could invalidate the agreement. Second, two attorneys should be involved, one to represent the separate interests of each partner. And third, sufficient time should be allowed between executing the agreement and exchanging vows to avoid the suggestion that either partner was pressured into signing. A valid prenuptial agreement can save a couple time, money, and heartache if things don’t go as expected. If there are wedding bells in your future, contact an attorney who practices in this area to determine whether a prenuptial agreement is right for you.
May 15, 2024
Family Law
What are Capital Gains, and How can Capital Gains impact my divorce?
Capital gains are the profits realized from the sale of assets such as stocks, bonds, real estate, or other investments. When an asset is sold for more than its original purchase price, the difference represents a capital gain. These gains are subject to taxation, but the amount of tax owed can vary depending on several factors, including the length of time the asset was held and the individual's tax bracket. In divorce cases, capital gains may become a significant consideration when dividing marital assets. Generally, the division of assets in a divorce is based on the principle of equitable distribution, which does not necessarily mean equal distribution but rather what is deemed fair by the court. When it comes to capital gains, there are several key factors to consider: Date of Valuation: The valuation date of assets can significantly impact the division of capital gains. In some jurisdictions, the valuation may be set at the date of separation, while in others, it may be set at the date of divorce. The choice of valuation date can have implications for the calculation of capital gains and the subsequent division of assets. Tax Implications: It's essential to consider the tax implications of dividing assets with capital gains. Transfers of assets between spouses incident to divorce are generally not subject to capital gains tax at the time of the transfer. However, the receiving spouse will inherit the original cost basis of the asset, potentially leading to higher capital gains taxes when the asset is eventually sold. Qualified Domestic Relations Order (QDRO): In the case of retirement accounts such as 401(k)s or pensions, a Qualified Domestic Relations Order may be necessary to divide the assets without incurring tax penalties. A QDRO outlines how retirement benefits will be divided between spouses, including any potential capital gains tax implications. Professional Assistance: Given the complexity of capital gains taxation and its implications for divorce settlements, seeking the advice of financial and legal professionals is highly recommended. A financial advisor or tax accountant can provide valuable guidance on the most tax-efficient ways to divide assets and minimize capital gains tax liabilities. Understanding how capital gains are treated and the potential tax implications is essential for both spouses to ensure a fair and equitable settlement. By considering factors such as the valuation date of assets, tax implications, and the use of tools like Qualified Domestic Relations Orders, couples can navigate the complexities of capital gains in divorce and work towards a mutually beneficial resolution. Seeking the advice of financial and legal professionals can provide invaluable support in this process, helping to ensure that both parties achieve a fair outcome.
May 9, 2024
Family Law
What happens to Debt in Divorce: Understanding Financial Responsibilities
Divorce is a challenging time, often fraught with emotional and logistical complexities. Amidst the emotional upheaval, one aspect that requires careful consideration is the division of debts. Financial entanglements can add a layer of complexity to an already difficult situation. Understanding how debts are handled during a divorce is crucial for both parties to ensure a fair and equitable resolution. When a couple decides to end their marriage, their assets and debts must be divided, ideally through an amicable agreement or by court order if necessary. Debts accumulated during the marriage, whether they are mortgages, car loans, credit card debts, or other financial obligations, are subject to division, much like marital assets. The legal principle governing debt division varies depending on the jurisdiction. In community property states, such as California, debts incurred during the marriage are generally considered community property and are divided equally between spouses, regardless of who incurred the debt. In equitable distribution states, which include the majority of states in the US, debts are divided fairly but not necessarily equally, taking into account factors such as each spouse's income, earning potential, and financial contributions to the marriage. Types of Debt: Marital Debt: Debts incurred during the marriage are typically considered marital debt, regardless of which spouse's name is on the account. This includes mortgages, car loans, credit card debt, personal loans, and any other liabilities accrued during the marriage. Separate Debt: Debts acquired before the marriage or after the separation are generally considered separate debt and may remain the responsibility of the spouse who incurred them. However, if separate debt was used for marital purposes, such as household expenses or joint purchases, it may be subject to division. Joint Debt: Loans or credit accounts held jointly by both spouses are equally the responsibility of both parties. Even if only one spouse benefited from the debt, both are still liable for repayment. Joint debts can include joint credit cards, joint bank accounts, or co-signed loans. During divorce proceedings, the division of debt can be negotiated between the spouses or decided by a judge. Ideally, divorcing couples should aim to reach a mutually agreeable arrangement through mediation or collaborative divorce to maintain some level of control over the outcome. However, if an agreement cannot be reached, the court will intervene and make decisions based on state laws and the specific circumstances of the case. Factors Considered in Debt Division: Income Disparity: If one spouse earns significantly more than the other, the court may allocate a larger share of the debt to the higher-earning spouse to ensure both parties can maintain a similar standard of living post-divorce. Financial Contributions: The court may consider each spouse's financial contributions to the marriage when dividing debt. This includes income earned, assets brought into the marriage, and non-monetary contributions such as homemaking or childcare. Marital Misconduct: In some cases, marital misconduct such as financial infidelity or excessive spending may influence the division of debt. For example, if one spouse recklessly incurred debt without the other's knowledge, the court may assign a greater share of the debt to that spouse. Future Financial Needs: The court may take into account each spouse's future financial needs, especially if one spouse requires financial support due to health issues or caregiving responsibilities. Once the division of debt is finalized, each spouse is responsible for their allocated share of the debt. It's essential to take proactive steps to manage and address the debt to avoid negative consequences such as damaged credit scores or legal actions by creditors. Some strategies for managing debt post-divorce include: Refinancing or Transferring Debt: If feasible, spouses may consider refinancing joint loans or transferring debt to individual accounts to remove the other spouse's liability. Negotiating with Creditors: It may be possible to negotiate with creditors to modify payment terms or settle debts for a reduced amount, especially if financial circumstances have changed due to divorce. Creating a Repayment Plan: Developing a structured repayment plan can help manage debt effectively. Prioritize high-interest debts and consider consolidating multiple debts into a single, more manageable payment. Seeking Legal Advice: Consulting with a financial advisor or attorney specializing in divorce can provide valuable guidance on navigating debt division and developing a strategy for managing debt post-divorce. In conclusion, debt division is a critical aspect of the divorce process that requires careful consideration and negotiation. Understanding the types of debt, factors influencing division, and options for managing debt post-divorce can help spouses navigate this aspect of their separation more effectively. By working together or with the assistance of legal and financial professionals, divorcing couples can achieve a fair and equitable resolution to their financial obligations, allowing them to move forward with their lives independently.
May 9, 2024
Family Law
Navigating Passover Travel Challenges in Divorced Families
Passover, a joyous celebration of freedom and renewal, often inspires many Jews to embark on journeys to extravagant Passover programs spanning from Miami to Israel. However, for divorced individuals, these once familiar programs of familiarity and comfort during marriage may now remain unvisited. Travel, particularly concerning custody arrangements, can present complex challenges. Concerns such as international travel or transportation methods may arise, highlighting the importance of a clear understanding of legal rights and obligations. For divorced parents, understanding their legal rights and obligations regarding custody and travel is essential. This often involves establishing a clear custody agreement that outlines each parent's rights and responsibilities concerning the children. In cases of travel disputes or concerns, seeking legal guidance or mediation is often necessary for a resolution. International travel with children adds further complexity due to issues such as passport and visa requirements as well as the potential risk of parental abduction. Many countries have specific laws and procedures to prevent such incidents, often mandating consent from both parents of international travel. Given the current global climate, with rising antisemitism adding further uncertainty, divorced parents may hold drastically different views on international Passover travel. Effective communication and cooperation between parents are vital, especially when decisions about travel and the well-being of their children are at stake. Open dialogue and a willingness to compromise can help avoid conflicts and prioritize the children's needs. Navigating divorce-related issues, custody arrangements, and travel requires careful consideration of the legal framework and the best interests of the children. Consulting with legal professionals focusing on family law can provide invaluable guidance and support. If you have any questions or need assistance, please feel free to reach out for a consultation. Wishing you and your loved ones a Happy Passover.
April 22, 2024
Family Law
Essential Components of a Parenting Plan During Divorce
Divorce can be a challenging experience for families, especially when children are involved. One of the most important aspects of a divorce involving children is the creation of a parenting plan. A parenting plan, also known as a child custody agreement, outlines how parents will share responsibilities and time with their children after a divorce. Crafting a comprehensive and effective parenting plan can help reduce conflict and provide stability for the children. Here are the essential components to include in a parenting plan during a divorce: Custody Arrangements Physical Custody: Specifies where the child will primarily reside and the schedule for the child's time with each parent. Legal Custody: Determines which parent (or both) will have the authority to make major decisions regarding the child’s upbringing, such as education, healthcare, and religious upbringing. Visitation Schedule Establish a clear schedule for when the child will spend time with each parent, including regular visitation days, holidays, and special occasions such as birthdays. Include details on pick-up and drop-off times and locations to avoid misunderstandings. Communication Outline expectations for communication between the child and each parent, including phone calls, video chats, or other forms of contact. Specify how parents will communicate with each other about the child, including preferred methods (e.g., email, text) and frequency. Dispute Resolution Include a process for resolving disputes between parents, such as mediation, counseling, or another neutral third party. Avoid vague language and provide clear steps for conflict resolution to minimize misunderstandings. Child Support and Financial Provisions Specify the amount and frequency of child support payments, as well as how expenses such as medical care, education, extracurricular activities, and other significant costs will be divided. Address the child's insurance needs, including health, dental, and vision coverage. Education and Healthcare Address each parent's involvement in the child's education, including school-related decisions and participation in school activities. Specify how healthcare decisions will be made, including the choice of doctors and medical treatments. Travel and Relocation Define any restrictions on travel with the child, including requirements for notifying the other parent and obtaining consent for trips. Include provisions for what happens if one parent wants to relocate with the child, such as notice periods and mediation. Review and Modification Establish a process for reviewing and modifying the parenting plan as the child grows and circumstances change. Specify how often the plan will be reviewed (e.g., annually) and under what circumstances modifications can be made. Safety and Well-Being Address any concerns about the child's safety, including provisions for supervised visitation if necessary. Include guidelines for both parents regarding any substance abuse issues, criminal activity, or mental health concerns. Miscellaneous Provisions Consider including clauses for other aspects such as religious upbringing, participation in extracurricular activities, and access to the child's records (e.g., school, medical). Ensure the plan is as detailed as possible to avoid ambiguity and potential disputes. A well-thought-out parenting plan can provide a roadmap for co-parenting after divorce and help ensure the child's best interests are prioritized. Consulting with legal and family professionals can help parents create a comprehensive plan that suits their family's unique needs.
April 16, 2024
Family Law
International Assets and Divorce
The division of international assets during a divorce can be complex due to differing laws and regulations in each country. The process of dividing international assets in a divorce typically involves the following steps: Identification of Assets: Both parties must disclose all international assets, including property, bank accounts, investments, and other assets held abroad. Valuation: The assets must be valued to determine their worth. This can be challenging when dealing with assets in different currencies and markets. Jurisdictional Issues: Different countries have different laws governing divorce and property division. The legal jurisdiction of the assets (i.e., which country's laws apply) needs to be determined. Property Division: Depending on the laws of the jurisdiction, international assets may be divided according to community property or equitable distribution principles. This may include splitting the assets equally or fairly between the parties. Currency Conversion: When assets are in different currencies, they may need to be converted to a common currency for division. Legal Proceedings: Divorcing couples may need to work with legal professionals in multiple countries to resolve issues related to international assets. Enforcement: Once a division agreement is reached, ensuring the enforcement of the agreement across different countries can be complicated. Legal processes may vary by country. Tax Implications: Dividing international assets may have tax consequences in different jurisdictions. Consulting tax professionals familiar with international tax laws is important. Settlements: In some cases, couples may reach a settlement agreement that includes international assets. This can simplify the process and avoid potential conflicts. If you are going through a divorce involving international assets, it's important to seek legal advice from professionals with experience in international divorce and property division.
April 16, 2024
Family Law
Credit Card Chaos: Safeguarding Your Credit in Separation
Often spouses share joint credit cards during their marriage, or one spouse may be added as an authorized user on the other’s credit card. However, upon separation, one party may continue using the card, leading to significant debt accumulation. When considering divorce or separation, paying prompt special attention to the status of your credit accounts is crucial. Determine if the accounts are joint or individual. If there are any individual accounts, check if your spouse is an authorized user. Please consult an attorney about closing joint accounts or converting them to individual ones before canceling any authorized user cards. Additionally, it is essential to run a credit report to identify all accounts in your name or jointly. Often, one spouse may be unaware that their credit is linked to the other spouse’s accounts. In many divorce cases, parties and their attorneys will reach an agreement as to who is responsible for which credit card debt or arrange to pay off specific debts from marital assets before or after the finalization of the divorce. However, what if one party fails to abide by the agreement? In the case of a joint account, failure to pay by one party would adversely impact both parties’ credit scores. While the innocent spouse can bring the offending spouse back to court for violating the order, there is no court remedy to repair a credit score. Avoid leaving any loose ends in your divorce proceedings. Ensure all joint accounts are closed and paid off before the divorce is finalized or transferred into the responsible party’s name. Don’t solely rely on your spouse’s agreement to pay off the debt. Secure funds from another asset, if possible, to settle the account promptly and ensure your name is removed from the account as soon as possible. When considering divorce or separation, consult with an experienced family law attorney such as Megan Smith and Emily Ingall about closing joint accounts or converting them to individual accounts before canceling any authorized user cards. Should you have any questions, don't hesitate to contact Megan and Emily for guidance.
April 9, 2024
Family Law
Unleashing Your Inner Barbie: Embracing Independence after Divorce
While some may view the Barbie Movie as nothing more than a whimsical, kitschy movie based on the famous Mattel doll. However, when viewed through the lens of Ms. Greta Gerwig, the film’s director, the film illuminates Barbie’s journey of self-discovery as Barbie learns how to stand on her own two legs, both literally and figuratively, realizing that she does not need a “Ken” to define herself. Thus, she asserts her independence and defines herself on her own terms, free from the constraints of societal norms and expectations. In marriages, women often grapple with identity issues, feeling like their sense of self has been replaced by their role as a wife or mother. A common cause for divorce is a spouse’s desire and need to rediscover their identity. In post-divorce life, many women face the challenge of discovering who they are, what skills and resources they will need to navigate an independent life, where they fit into society, and, most importantly, how to successfully and meaningfully live life without their “Ken.” Progressing forward post-divorce is more challenging for more women than men since many must remain financially connected to their “Ken” through spousal and child support payments. Closure becomes more elusive, hindering pursuing new opportunities and nurturing personal growth. Whether you want to be a Teacher Barbie, an Attorney Barbie, a Nurse Barbie, or a Real Estate Agent Barbie, it is important, post-divorce, to surrender to your imagination and rely on your matrimonial attorney. They should not only have the experience to navigate you through the financial intricacies of divorce but also demonstrate empathy for your post-divorce journey. Recognize that finding your best Barbie may require additional support, such as a competent financial planner to help you manage assets, a therapist to boost self-esteem and confidence, or a vocational coach to aid in re-entering the workforce. Trust in this collaborative approach to empower yourself and pave the way for a fulfilling post-divorce life. In a poignant moment near the movie’s end, Barbie reflects, “I don’t think I have an ending.” Ruth Handler, the creator of Barbie (or rather her ghost, as portrayed by Rhea Perlman), affirms that this lack of conclusion was intentional. “That was always the point,” she explains to Barbie, “I created you so you wouldn’t have an ending.” Like Barbie’s story, divorce is not an end but a new beginning. It’s your narrative to shape, filled with choices and the occasional misstep. Embrace your journey, forgive yourself for any missteps, and remember to draw strength from your inner Barbie whenever doubt creeps in. In the journey of life, divorce marks not an ending but a beginning – an opportunity to redefine yourself and craft your own narrative. As you navigate this new chapter, our legal team is here to provide the support and guidance you need to empower yourself and embrace your future with confidence. Reach out to us today to take the first step towards reclaiming your independence and authoring your own story. Remember, you’re not alone – let us help you channel your inner Barbie and write the next chapter of your life. NOTE: BARBIE is a registered trademark of MATTEL, INC.
April 3, 2024
Family Law
Shareholder Agreements in Divorce: A Legal Perspective
Divorce proceedings can often involve complex financial negotiations, particularly when business interests are involved. When spouses who are shareholders in a company decide to part ways, it can raise a host of challenging issues regarding the disposition of shares, control of the business, and the future direction of the company. In such cases, understanding shareholder agreements becomes crucial, as they often dictate how shares can be transferred, sold, or retained in the event of a divorce. Shareholder agreements are legal documents that outline the rights and obligations of shareholders in a company. These agreements typically address a wide range of matters, including the transfer of shares, the appointment of directors, voting rights, and dispute resolution mechanisms. While shareholder agreements vary widely depending on the specific needs and circumstances of the shareholders and the company, they often contain provisions that address what happens in the event of a shareholder’s divorce. One common provision found in shareholder agreements is a buy-sell agreement, also known as a buyout agreement. A buy-sell agreement is a contractual arrangement between shareholders that governs the sale and purchase of shares under certain circumstances, such as death, disability, retirement, or divorce. In the context of divorce, a buy-sell agreement may specify that the shares owned by a divorcing shareholder must be sold to the remaining shareholders or to the company itself at a predetermined price or according to a specified valuation method. Another important consideration in the context of divorce is the issue of control and management of the business. In closely-held companies, where a small number of shareholders typically control the company, the transfer of shares as a result of divorce can have significant implications for corporate governance. Shareholder agreements often include provisions that address voting rights and the composition of the board of directors, which can become relevant in the event of a divorce. In some cases, spouses may be parties to a shareholder agreement together or may have entered into a separate agreement that governs their ownership interests in the company. In either scenario, the terms of the shareholder agreement will play a central role in determining how shares are treated in the divorce process. For example, if the shareholder agreement contains provisions restricting the transfer of shares or giving other shareholders a right of first refusal, those provisions will generally need to be respected in the divorce proceedings. However, it’s important to note that while shareholder agreements can provide valuable guidance and structure in the event of a divorce, they are not necessarily binding on the court. In some jurisdictions, the court does not have the authority to transfer title of shares from one spouse to another. However, if the parties enter into an agreement to transfer shares from one spouse to the other, the shareholder agreement becomes the governing instrument on effectuating the transfer. Ultimately, navigating shareholder agreements in the context of divorce requires careful attention to both the terms of the agreement itself and the applicable family law. Consulting with experienced legal counsel who can provide guidance on both corporate and family law issues can be essential in ensuring that the interests of all parties are protected and that the divorce process proceeds as smoothly as possible. By understanding the implications of shareholder agreements and how they intersect with divorce law, shareholders can better position themselves to protect their interests and preserve the value of their investments in the company.
March 14, 2024
Family Law
Navigating High-Asset Divorce Cases
High-asset divorces typically involve couples with substantial wealth, including real estate, investments, business interests, and other valuable assets. These cases require a meticulous approach to ensure a fair and equitable distribution of assets, spousal support, and child custody arrangements. Determining the value of complex assets such as businesses, stock options, and intellectual property can be challenging. Valuation experts may be required to assess the worth of these assets accurately. In some cases, spouses may attempt to conceal assets to reduce the amount subject to division. Uncovering hidden assets demands thorough financial investigations, and forensic accounting may be possible. The tax consequences of asset distribution need careful consideration. Dividing assets without a comprehensive understanding of tax implications can lead to unexpected financial burdens. When one or both spouses own a business, the division or buy-out of business assets becomes a critical issue. This involves assessing the business's value and determining the most equitable way to distribute ownership interests. High-asset divorces often involve substantial spousal support considerations. Calculating the appropriate amount requires a detailed analysis of each spouse's financial situation and needs. Your divorce attorney will help you engage the necessary financial experts, such as forensic accountants and valuation professionals. Comprehensive documentation of all assets, liabilities, and financial transactions is essential in determining the marital estate. Given the complexity of high-asset divorces, negotiation and mediation can be effective methods for reaching agreements outside the courtroom. This allows the parties more control over the outcome. Having a well-drafted prenuptial or postnuptial agreement can simplify the divorce process by establishing clear guidelines for asset division and financial arrangements. If you have such an agreement, you should provide a copy to your attorney. Each spouse should seek experienced legal representation with experience in high-asset divorces. Attorneys with expertise in this area can navigate the legal complexities and advocate for their client's best interests.
February 15, 2024
Family Law
Navigating the Path of Divorce Post-Holiday Season
A Guide to Moving Forward Divorce is a highly emotional process, and the holidays may offer a temporary reprieve from the intensity of these emotions. However, once the festive season concludes, individuals may find themselves emotionally prepared to confront the challenges of divorce. Once the New Year begins, it may become clearer that the issues within the marriage are insurmountable. Taking this time to reflect can provide individuals with the clarity and determination needed to initiate the divorce process. Many couples choose to delay divorce proceedings until after the holidays to maintain a sense of normalcy for their children. Proceeding with divorce after the holidays allows parents time to begin working on creating a stable schedule and supportive environment for their children as they navigate the changes ahead. The holiday season often comes with increased spending, and couples may delay divorce proceedings to avoid the additional financial strain during this time. Waiting until after the holidays can provide individuals with an opportunity to assess their financial situation, plan for the future, and make informed decisions about the division of assets and financial responsibilities. Post-holiday divorce proceedings allow individuals to set realistic expectations for the process ahead. It provides an opportunity to gather necessary documentation, consult with legal professionals, and develop a realistic timeline for the divorce proceedings. By approaching the situation with a clear plan, individuals can reduce stress and uncertainty. Consulting with legal professionals is a crucial step when proceeding with divorce. After the holidays, individuals can begin to gather necessary documentation, such as financial records, to facilitate the legal process. Seeking legal advice early on ensures that individuals are well-informed about their rights, responsibilities, and the potential outcomes of the divorce. While the decision to proceed with divorce is undoubtedly challenging, waiting until after the holidays can provide individuals with the time and space needed to make informed choices. By reflecting on the state of the relationship, considering the well-being of children, and planning for the financial and emotional aspects of divorce, individuals can navigate this difficult journey with greater clarity and resilience.
January 8, 2024
Family Law
What Happens to My Business During Divorce?
Divorce is a challenging and emotionally charged process, and when business ownership is thrown into the mix, it can become even more complex. For business owners, the stakes may be high, as the outcome of a divorce can significantly impact the future of their business. One of the initial steps regarding a business is to value the business or the owner’s interest in the business. Business valuation often involves assessing the company’s financial statements, assets, liabilities, and future earning potential. This process can be intricate and usually requires the expertise of financial professionals, such as forensic accountants or business valuation experts. In many jurisdictions, marital assets, including businesses, are subject to equitable distribution. Equitable distribution does not necessarily mean equal distribution but rather what is deemed fair and just by the court. Factors such as the contribution of each spouse to the business, the length of the marriage, and each party’s financial and non-financial contributions are considered during this process. There are several potential outcomes for the business in a divorce: One spouse may choose to buy out the other’s share of the business, allowing them to retain sole ownership. This buyout is typically based on the valuation of the business and the agreed-upon terms negotiated during the divorce proceedings. In some cases, divorcing spouses may opt for continued co-ownership of the business. This arrangement requires a well-defined and often legally binding agreement outlining each party’s responsibilities, decision-making authority, and financial contributions. Another option is to sell the business, with the proceeds being divided between the spouses according to the terms of the divorce settlement. The sale may be facilitated either on the open market or through a negotiated private sale. To protect their interests, business owners can take proactive measures before and during marriage. Implementing prenuptial or postnuptial agreements that specifically address business ownership can provide clarity in the event of a divorce. These legal documents can outline how the business will be valued, divided, or managed in the event of marital dissolution. Navigating the complexities of divorce and business ownership requires the expertise of professionals. Engaging attorneys with experience in family law and business matters is important. Additionally, financial experts, such as forensic accountants or business appraisers, can provide valuable insights into the financial aspects of the business and assist in the valuation process. When businesses are an issue in divorce, interest owners should be prepared for an examination of their business and its financial intricacies. By seeking professional guidance, understanding their legal rights and responsibilities, and exploring the available options, business owners can increase the likelihood of reaching a fair and equitable resolution during this challenging time.
January 5, 2024
Family Law
Cohabitation Agreements: Protecting Assets and Income of Unmarried Couples Residing Together in DC
Unmarried couples residing together in the District of Columbia would be wise to execute a cohabitation agreement defining their rights and responsibilities to avoid substantial financial risk. The District of Columbia is one of a small number of jurisdictions in the United States that recognize “common-law marriage.” Contrary to popular belief, there is no minimum amount of time that couples must live together to form a common-law marriage. Instead, a couple forms a common-law marriage in the District of Columbia when there is cohabitation following an express mutual agreement, which must be in words of the present tense, to be permanent partners with the same degree of commitment as the spouses in a ceremonial marriage. A common-law marriage can be formed without any marriage ceremony or marriage license. A well-drafted cohabitation agreement signed and notarized by both parties will unequivocally explain that the parties do not intend to form a common-law marriage. The agreement should also clarify that each party will retain their own assets and income and assume responsibility for their own debt if and when the relationship ends. In the absence of a cohabitation agreement, one of the parties to the relationship might file a complaint for divorce in the Superior Court for the District of Columbia, asserting that the parties formed a common-law marriage. If the Court concludes that the parties formed a common-law marriage, the Court can order one party to pay spousal support to the other, depending upon the facts of the case. The Court can also equitably distribute property and debt acquired by the parties from the date of marriage to the date of divorce, except property acquired by gift or inheritance, and order one party to reimburse the other party for attorneys’ fees incurred in the divorce proceeding. Even if the parties never formed a common-law marriage, the party who denies the existence of a common-law marriage will have to engage in lengthy and costly litigation to prove that the parties were never common-law married to avoid having his or her assets and income divided by the Court. The attorneys’ fees involved in defending against a false common-law marriage claim can be substantial. To avoid costly and time-consuming litigation and protect your income and assets, anyone planning to reside with another person in a romantic relationship or already residing with another person in a romantic relationship should promptly seek the assistance of an attorney in preparing a cohabitation agreement.
December 21, 2023
Family Law
In Landmark Ruling Pope Francis Approves Priestly Blessings for Same-sex Couples (Under Certain Circumstances)
On December 18, Pope Francis approved a landmark ruling allowing Roman Catholic priests to administer blessings to same-sex couples as long as they are not part of regular Church rituals or liturgies nor given in contexts related to civil unions or weddings. The declaration from the Vatican’s doctrinal office, approved by Pope Francis, said such blessings would not legitimize irregular situations but be a sign that God welcomes all and does not discriminate. Francis’ comments are the first uttered by a pope about such laws. But they are also consistent with his overall approach to LGBTQ people and belief that the Catholic Church should welcome everyone. Earlier this year, in January 2023, Pope Francis criticized laws that criminalized homosexuality as “unjust,” saying “being homosexual isn’t a crime,” and “God loves all his children just as they are” and called on Catholic bishops to welcome LGBTQ people into the Church.1 The formal declaration entitled “Fiducia Supplicans” (“Supplicating Trust”) was subtitled, “On the pastoral meaning of blessings” (“Fiducia Supplicans”), is a resistance to a rigid church, one that excludes people from blessings because they fail doctrinal or moral litmus tests, but also one that turns blessings — including to same-sex couples — into the supports of a new Canon legal structure. The Fiducia Supplicans evolved from a letter Francis sent to two conservative cardinals in October. It reaffirms that marriage is an “exclusive, stable and indissoluble union between a man and a woman, naturally open to conceiving children.” The declaration insists that Mass is not the proper setting for the less formal forms of blessing that could include the blessing of a gay couple, and it repeats that “it is not appropriate for a diocese, a bishops’ conference” or other church structure to issue a formal blessing prayer or ritual for unwed couples. Further, the blessing should not be given “in concurrence” with a civil marriage ceremony to avoid appearing as a sort of church blessing of the union. And it stresses that blessings in question must be non-liturgical in nature, must avoid using set rituals, and avoid the clothing and gestures that are traditional in a wedding. But it says requests for such blessings for same-sex couples should not be denied outright. Priests are to decide on a case-by-case basis and “should not prevent or prohibit the Church’s closeness to people in every situation in which they might seek God’s help through a simple blessing.” “Ultimately, a blessing offers people a means to increase their trust in God,” the document said. “The request for a blessing, thus, expresses and nurtures openness to the transcendence, mercy, and closeness to God in a thousand concrete circumstances of life, which is no small thing in the world in which we live.” Conclusion There has been a small burst of liberal activity in the Catholic Church on several fronts in 2023 from the Vatican’s Office of the Doctrine of the Faith, not just on the LGBTQ issue. On Oct. 31, Francis approved another document, making clear that transgender people can be baptized, serve as godparents, and be witnesses at church weddings, furthering his vision of a more inclusive church. And, for the first time, women and laypeople can vote on specific proposals alongside bishops, a radical change that is evidence of Francis’ belief that the Church is more about its flock than its shepherds. Pope Francis has worked steadily to open the Church to the LGBTQ+ community. For some, his efforts are too much. For others, they are not enough. 1 “Being homosexual isn’t a crime,” Francis said during an exclusive interview on January 24, 2023, with Tuesday with The Associated Press.
December 19, 2023
Family Law
It’s Tax Time
Although most folks think that tax time is April 15th or thereabouts, there are a number of things that you should consider doing before the end of the year that may affect your tax obligation for 2023. Certainly, check with your accountant or tax advisor, but generally, the end of December and the beginning of January are prime times to get organized. If you don’t already have a CPA or tax professional, this is a good time to find one and establish a relationship. CPAs often stop taking on new clients after the beginning of the year, and some tax planning in December may be very beneficial. As those forms come in, file them away in a safe place so that you can produce them easily when you begin the process of sharing them with your tax advisor. If you have had big changes in the past year, like a new baby or a second job, you may want to adjust your withholding early in the year. Of course, December is a great time to make donations to charity and maximize your IRA. If you are going to owe taxes when you file your return, you may want to pay as much as possible towards that obligation before the actual filing deadline.
December 13, 2023
