R.S.C. Law Group, Inc.R.S.C. Law Group, Inc.2024-03-07T15:43:37Zhttps://www.montereydivorcelawgroup.com/feed/atom/WordPressOn Behalf of R.S.C. Law Group, Inc.https://www.montereydivorcelawgroup.com/?p=489912024-03-07T15:43:37Z2024-03-07T15:43:37ZWhat should happen to the company?
Divorce can mean major changes to someone's life and major challenges that might make continued business ownership prohibitively difficult. Some people agree that the best option when divorcing is to sell off the family business so that the spouses can share in the proceeds from that sale while rebuilding their lives. Other times, spouses might agree to have one person continue running the company instead of closing down or liquidating the business. Spouses may disagree about what solution is best given their circumstances.
Future employment arrangements
When a family business is successful, both adults may work at the company. A divorce might mean that continuing to work together is an unrealistic expectation. Spouses may need to negotiate arrangements in which one of them transitions away from the company by seeking outside employment. If both spouses intend to continue working at the company, thorough contractual agreements may be necessary to reduce the risk of such arrangements.
The value of the business
Business valuation can require numerous different steps depending on the type of company and other factors. Spouses may disagree intensely about what the company is actually worth. Setting a realistic business value is crucial for the property division process. The company's worth could affect many other important terms during divorce proceedings, including what happens with retirement savings or real property.
Business owners often need to set clear priorities if they hope to protect the organizations that they have developed during their marriages. Preparing for likely challenges during complex property division negotiations may benefit those who have invested in a family business and whose marriages are at an end.]]>On Behalf of R.S.C. Law Group, Inc.https://www.montereydivorcelawgroup.com/?p=489902024-03-06T14:05:08Z2024-03-06T14:05:08ZIf you’re getting divorced, it’s important to keep an eye on your finances in the months preceding the divorce. This is not an instantaneous process, and you and your ex-spouse will have many different details to sort through.
One problem is that people will sometimes attempt to hide assets. If you see any significant transfers that are outside of the norm, these could be an indication that your spouse is attempting to do so. You need to know what steps to take to fight for the assets that you deserve during property division.
Giving money to a friend or family member
For example, many people hide assets by giving them to people they trust. Your spouse may give their sister a “loan” or repay a “forgotten debt.” But they really know that their family member will just hold the money for them until the divorce is concluded, when they will transfer it back. They’re not giving someone a loan; they’re just manipulating their asset levels.
Putting money in hidden accounts
Another tactic that people sometimes use is to transfer money to accounts that they then fail to disclose. For instance, maybe your spouse has overseas bank accounts for business. They also handle most of the finances for the two of you as a couple. They may assume that you don’t know that the overseas account exists, and they will transfer money out of your main account. They are simply hoping that you do not notice, so it’s important to remember that you do have a right to that money.If your divorce leads to complicated financial situations like this, it’s important to understand exactly what legal options you have.]]>On Behalf of R.S.C. Law Group, Inc.https://www.montereydivorcelawgroup.com/?p=489882024-02-23T11:32:55Z2024-02-23T11:32:55ZDivorce is a time of significant change for children. During this time, they depend on their parents to keep things as stable as possible. While this is challenging enough in even the best case, it’s even more difficult when one parent is an addict. One of the most difficult things for you, as the non-addict parent, might be having to cope with the helter-skelter ways that often come with addiction. This can significantly impact the children because they won’t have the consistency they need.
Provide emotional support and open communication
Children who are dealing with a person with an addiction as a parent need to have emotional support from their other parent. There may be times when they start to internalize the problems and try to share the blame for the addiction with the addict parent. At that point, you may need to step in and teach them about addiction and what factors may play a role in it.
Encourage their relationship with the addict parent
The relationship between a child and an addict parent might not look like a traditional relationship. Because of this, you may have to encourage your children to embrace the good times they have with their parents. This may be done by setting realistic expectations about what things may be like with the other parent.
Avoid badmouthing your ex
Even when you don’t like what your ex is doing, avoid badmouthing them to your children. Discuss issues directly with your ex, but try to find a time when they’re sober. If issues are causing danger or safety issues, it might be necessary to address those in court. Working with someone familiar with custody with an addict may be beneficial in these cases. ]]>On Behalf of R.S.C. Law Group, Inc.https://www.montereydivorcelawgroup.com/?p=489862024-02-09T03:28:14Z2024-02-09T03:28:14Zcohabitation agreement can offer many of the same benefits marital contracts extend. When drafted thoughtfully, it can be a powerful tool to navigate potential hurdles and protect your future. Like a prenup or postnup, it is a written agreement outlining each party's expectations and responsibilities if they part ways.
What are some benefits?
For one, it can give you both financial clarity throughout your relationship, which may prevent conflict and disagreements. If a breakup does happen, your cohabitation agreement can provide these additional benefits.
Property division guidance: It empowers you to divide income, expenses and shared debts equitably, minimizing disputes about contributions and ownership. You may also specify how to handle joint accounts and property (like a house) upon a separation.
Peace of mind: A clear breakup roadmap may reduce your anxiety about possible future financial implications. An agreement outlining your rights and responsibilities can offer stability and security when ending a relationship.
Protection of separate assets: With a cohabitation agreement, you can safeguard pre-existing assets like inheritances or personal investments. It may ensure these assets remain separate even if their value increases during the cohabitation.
Certainly a cohabitation agreement cannot guarantee smooth sailing in your relationship and not even in a potential break-up. However, a sound agreement can encourage a peaceful and fair resolution. With experienced legal guidance, you protect your rights and help ensure that the agreement meets your needs.]]>On Behalf of R.S.C. Law Group, Inc.https://www.montereydivorcelawgroup.com/?p=489842024-01-27T04:27:10Z2024-01-27T04:27:10Zthe family’s summer scheduling concerns well in advance can help everyone to get on the same page before concrete plans need to be made, itineraries crafted and expectations set. Ultimately, if you’re co-parenting a minor child with your ex, it’s ideal to get your summer in order before spring arrives.
What’s the big deal?
Summer often involves an array of activities like camps, vacations and family visits. By discussing these plans ahead of time, co-parents can ensure that these matters get scheduled before deadlines pass without sacrificing either parent’s quality time with their children. This approach can help prevent last-minute disputes related to creating a schedule that respects both parents' availability and the children’s interests.
Planning months in advance also provides the opportunity to involve children in decision-making. Kids often have their own wishes for summer – be it attending a specific camp, visiting relatives or exploring a new hobby. Early discussions give children a voice in the planning process, helping them feel valued and respected. This involvement can also ease the transitions between homes, as kids are more likely to be cooperative when they feel that their opinions matter.
Finally, summer activities, especially camps and vacations, require early booking and often come with significant expenses. By starting the planning process early, co-parents can budget accordingly, explore cost-sharing agreements and avoid the stress of last-minute financial burdens.
Ultimately, starting early helps in setting expectations and reducing the risks of conflicts. As a result, even though it’s not even Valentine’s Day yet, it’s time to start planning for the summer.]]>On Behalf of R.S.C. Law Group, Inc.https://www.montereydivorcelawgroup.com/?p=489832024-01-09T23:46:58Z2024-01-09T23:46:58ZThere are a lot of misconceptions about community property laws like those that often come into play in California divorces. First off, even among the relatively few community property states, no two are exactly alike.
In California, community property refers to “marital property.” Most property acquired by either or both spouses during the marriage is considered marital property and subject to a 50/50 division under the law. This includes things like:
All income earned by either spouse during the marriage (including wages, interest, dividends and capital gains)
Assets in retirement accounts
Property acquired during the marriage and paid for with income earned during the marriage
The same 50/50 division is used for debt acquired during the marriage.Note that it generally doesn’t matter whether an asset was paid for primarily using one spouse’s income or assets. It’s still marital property. Even if only one spouse’s name is on a title (like the title to a home), if it was paid for using marital assets, it’s marital property.
You and your spouse can work out your own property division
It’s important to clarify that spouses can work out a different property division agreement without asking a judge to decide it. Further, if you have a prenuptial or postnuptial agreement that addresses property division, that will override the community property mandates as long as the agreement is considered valid. For example, it can’t give one spouse everything and the other nothing. The same is true for any property division agreement you negotiate.
What is considered separate property?
Separate property isn’t subject to the 50/50 division rule. This includes assets owned by one spouse before the marriage and gifts and inheritances given to one spouse.Note that if this separate property has been commingled with marital property or the other spouse’s separate property, it becomes subject to the 50/50 division. For example, if you inherited money and then deposited that inheritance into your joint bank account, it’s no longer separate property.It’s a lot to think about. All divorce-related laws can be complicated, but California’s community property laws can be particularly confusing. Having experienced legal guidance can help you protect your rights and interests throughout the divorce process.]]>On Behalf of R.S.C. Law Group, Inc.https://www.montereydivorcelawgroup.com/?p=489812024-01-07T23:23:01Z2024-01-07T23:23:01Zdivorce an abusive spouse is unquestionably scary and complicated. Keep the following tips in mind when preparing to navigate the process effectively and securely.
Work to ensure your personal safety
The primary concern when you’re divorcing an abusive spouse should be personal safety. This may involve creating a safety plan, which includes identifying safe places to stay, having an emergency contact list and knowing the quickest escape routes from your home. In cases of imminent danger, contacting local authorities or a domestic violence hotline is crucial.
Gather important documents
Securely gather and make copies of all essential documents. This includes your personal identification, financial records and property documents. Gather evidence of the abuse, such as photos, videos or messages, if possible. These documents are crucial for legal proceedings and should be kept safe, possibly outside the home.
Maintain privacy and security
Be mindful of your personal privacy and security. This includes changing passwords, securing social media accounts and being cautious about sharing information that could compromise your safety. In situations of abuse, an ex-partner may attempt to track or monitor your activities, so maintaining digital and physical privacy is crucial.
Plan financially
Financial planning involves setting aside funds in a separate account or seeking financial advice. Understanding your financial situation, including assets, debts and potential child support or alimony, is essential for ensuring financial stability post-divorce.
Because leaving an abusive spouse is such a complicated situation, it’s best seek legal guidance proactively. This can help you to learn your options and determine how to proceed at each step. Remember, your safety must remain a priority at each step along the way.]]>On Behalf of R.S.C. Law Group, Inc.https://www.montereydivorcelawgroup.com/?p=489802023-12-28T02:05:23Z2023-12-28T02:05:23ZDuring a divorce, parenting time typically gets divided between both parents. There are some cases in which one parent will get sole physical custody rights and the other parent will not have any time with their child. But this is generally rare and only done when there is a very good reason to do so – such as a danger to the child.
But in some cases, visitation will be used. It may be better for the child to live with one parent all the time, but the other parent can still spend time with them. An extension of this is known as virtual visitation. How can this be beneficial?
Using technology to stay in touch with the child
Virtual visitation is generally technology-based. For example, the child may use Skype on the family computer to talk to their parent. They may simply check-in through a phone call. They could talk to each other on FaceTime or another video-focused smartphone application. In some cases, virtual visitation just means sending text messages, pictures, email messages and things of this nature.This type of visitation often has less to do with safety and more to do with availability and access. For instance, a parent who is in the military may have to travel extensively all over the world. They are simply not home to communicate with the child on a regular basis. Virtual visitation gives them a chance to check in and maintain that relationship, regardless of where they are physically.When custody arrangements get complicated during a divorce, parents must understand exactly what options they have and what legal steps they can take.]]>On Behalf of R.S.C. Law Group, Inc.https://www.montereydivorcelawgroup.com/?p=489722023-12-14T15:27:00Z2023-12-14T15:27:00ZPrenuptial agreements are a type of legal contract made between spouses. Generally, these agreements focus on protecting the individual assets of each spouse in the event of a divorce.
There are many misconceptions about prenuptial agreements and they are often viewed as a sign of mistrust between spouses. Nonetheless, a prenuptial agreement brings numerous advantages that extend beyond money. Outlined below are a few things to consider.
Prenups start a conversation
Financial secrecy is one of the biggest factors that lead to divorces. A prenuptial agreement gives couples the opportunity to remove this element from their relationship. With a prenuptial agreement, both spouses know exactly where they stand in terms of assets. If conversations about money have been had early in the relationship, this makes it much easier to move forward.
Protection for both spouses
The reality is that many marriages don’t work out. Nonetheless, that doesn’t mean that the divorce needs to be messy. With a prenuptial agreement, couples have more control over the divorce. They can know that they won’t be saddled with debt from the other spouse and that they will receive a fair share of assets. A prenuptial agreement can help facilitate successful co-parenting relationships and even friendships between former spouses once the marriage has concluded. While prenuptial agreements can be beneficial, there are certain things they cannot do. Prenuptial agreements cannot be forced upon either spouse. Their terms must be reasonable. They also cannot include terms related to child custody and support. If you’re considering a prenuptial agreement, it’s best that you have all of the relevant information. Seeking legal guidance will help provide clarity on the matter.]]>On Behalf of R.S.C. Law Group, Inc.https://www.montereydivorcelawgroup.com/?p=489562023-11-29T23:35:07Z2023-11-29T23:35:07ZDivorce is hard even under the best of circumstances, but when you’re splitting up with someone who’s a narcissist, it gets even more complicated. In every step of the way, you’re going to have to consider how your behaviors and responses may impact the narcissist.
There are a few things that you may be able to do that will make the situation a bit easier. Remembering these points as you go through divorce with a narcissist may be beneficial.
Put up a barrier
Narcissists feed on controlling the emotions of others. The only way that you can take that control away from them is to control your reactions. You’ll have to determine ways to put barriers up to keep your emotions out of every situation. Remember, you only need to do this while they’re around you. It’s perfectly suitable to get emotional and react once you’re not around them.
Keep proof of everything
You need to keep proof of everything that has to do with the divorce. Narcissists live in a world of their own and will try to thwart reality to meet their views. By having proof of everything, you can submit those to the court or anyone else who may need them.
Take emotions out of decisions
Another trait of the narcissist is that they will try to upset you to the point that you can’t think clearly. Every decision you make during the divorce should be based on logic instead of emotion. Working with someone who’s familiar with divorcing a narcissist may be helpful in these situations. Your ultimate goal is to protect yourself so you can start your new single life on the best foot possible. ]]>