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Financial Tips for Seniors Facing Divorce
Navigating divorce laws in Owings Mills is never easy, particularly if you are a senior. When you go through a divorce and one or both partners are retired, it can be difficult to determine financial obligations and responsibilities. If you are going through a divorce over the age of 50, it is crucial that you hire an experienced divorce lawyer who can help you reach an appropriate financial settlement.
Watch this video for some valuable financial tips for seniors who are facing divorce. Ken Moraif of Money Matters discusses the key financial elements you must consider throughout your divorce proceedings.
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Advice for Negotiating Alimony Settlements
If you’re going through a divorce, you may need to discuss alimony laws in Owings Mills , or anywhere in the Baltimore metro region, with your divorce lawyer. Alimony is typically awarded based upon the financial resources of each partner, including assets, income, expenses, benefits, and bonuses. Here is some advice for negotiating an alimony settlement during your divorce proceedings.
Evaluate Your Spouse’s Resources
The judge presiding over your divorce case will use financial records to determine how much alimony you should be awarded. Even in an uncontested divorce, you and your spouse will need to file financial affidavits with the court that detail your financial resources and expenses. These affidavits will determine both your spouse’s ability to pay, and your own financial needs. These affidavits should detail you and your spouse’s separate assets, your individual monthly income and expenses, and any regular bonuses, benefits, or overtime wages that either of you receive. They should also include an itemization of money that is in stock portfolios, IRA accounts, and any other savings or investment accounts that either of you hold.
Evaluate Your Needs and Expenses
You and your divorce lawyer will then need to evaluate your personal needs and anticipated expenses. You should look at the difference between your monthly income and your monthly expenses, and then compare it to the financial resources that you have, and your spouse’s financial resources. There is no standard formula used in alimony negotiations to determine the appropriate amount of alimony that should be awarded. Your divorce lawyer will just have to ask for the amount that you believe you will need in order to meet your expenses.
Consider Your Child Support Award
Child support orders are separate from alimony orders, but you should still consider your childcare expenses when negotiating alimony. You cannot include child support expenses in your alimony request. Instead, you should factor in the additional monetary support you will receive for child support in an effort to ensure your alimony request is fair. Your spouse cannot reduce the amount of child support that he pays in order to increase your alimony award, however.
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Defining Legal Custody
If you’re going through a divorce and are concerned about child custody in Owings Mills , or anywhere in the Baltimore metro region, you should hire an experienced family law attorney. He can help you understand child custody laws, request a child custody arrangement, and negotiate child support payments. Child custody is a legal arrangement involving the rights that each parent is awarded regarding the child’s physical and mental care.
There are two different types of child custody that can be awarded to a parent: physical custody, and legal custody. Physical custody is the determination of where a child lives on a day-to-day basis. Physical custody can be joint custody or sole custody, depending upon the results of divorce mediation or a judge’s order. Legal custody concerns the right of a parent to make long-term decisions about a child’s well-being and upbringing.
Legal custody allows a parent to make major decisions regarding religious education, choice of schools, cultural education, extracurricular activities, and health care. Legal custody is typically awarded to both parents, unless one parent is determined to be unfit or incapable of making these decisions. Joint legal custody requires that the parents consult with each other and reach agreements regarding the child’s upbringing and welfare.
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A Look at the Issues Surrounding Passports and Child Custody
When you go through a divorce, your divorce lawyer will help you navigate complex child custody issues and child custody laws in Owings Mills or anywhere in Maryland. For instance, if you or your ex-spouse wants to travel out of the country with your child, there may be restrictions or special guidelines regarding getting a passport for your child. Here is a look at the issues surrounding passports and child custody laws.
How to Get a Passport for a Child After a Divorce
Both parents need to provide signatures in order to apply for and obtain a passport for a child, regardless of whether the parents are married, divorced, separated, or were never married. The only exception to this rule is if you were granted sole child custody after your divorce or legal separation. You can also obtain a passport with only one parent’s signature if the passport is required to maintain the health or welfare of your child, or if there are special family circumstances that require travel. In these circumstances, your family law attorney would have to secure a court order.
What to Do if You Object to Your Child Traveling with Your Ex-Spouse
If your ex-spouse asks you to sign a passport application and you object to your child traveling with him or her, you can refuse to sign. Your ex-spouse can ask his divorce lawyer to petition the court to order you to sign the application. You can advise the court if you’re concerned that your ex will abduct your child.
How to Set Up a Passport Alert
If your child already has a passport and you’re concerned that your ex-spouse will take your child out of the country, you can set up a passport alert. You will need to register with the Children’s Passport Issuance Alert System. Once you register your child, a passport cannot be issued unless you are contacted first. You will be alerted if a new passport is issued or if an old one is renewed, even if you don’t have sole child custody.
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Finding Out if a Divorce is Final
If you aren’t sure if there has been a final decree issued in your divorce case or divorce mediation in Owings Mills , or anywhere in the Baltimore metro region, you should contact your divorce lawyer. Your divorce lawyer will be mailed an official copy of your divorce decree or divorce mediation agreement as soon as it is entered by the court. You can also call the court record’s department to check on the status of your case, or look up your court case online.
Watch this video for more tips on how to find out if a divorce has been finalized. Robert Todd, an experienced family law attorney, walks you through the steps of checking on the status of your divorce decree.
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Tips for Preparing Emotionally for Divorce
If you are considering legal separation or divorce in Owings Mills , or anywhere in the Baltimore metro region, you should consult with an experienced divorce lawyer in your area. Divorce laws are complicated, especially if there are child custody issues in consideration, and a divorce lawyer can make the process less stressful and emotional for you. Here are some helpful tips for preparing emotionally for divorce.
Don’t Obsess Over Winning Your Divorce Case
When couples begin divorce proceedings, they are often very concerned with “winning” their divorce case. In general, divorce cases involve issues of child custody, dividing assets and liabilities, and negotiating child support. It is rare that one party will get everything that he or she wants in a divorce order or child custody order. Instead of obsessing over trying to make every aspect of your divorce or child custody case go your way, you should make an attempt at divorce mediation, or discuss the possibility of an uncontested divorce with your partner.
Be Familiar with Child Custody Laws
One of the most stressful and emotional aspects of any divorce is navigating child custody issues. You can minimize your stress by consulting with a family law attorney who is experienced in child custody laws. Your divorce lawyer should carefully explain the state and federal child custody laws so that you know what to expect and won’t experience any surprises. Divorce mediation can be very helpful when dealing with complex child custody issues, and will make it easier for you and your spouse to agree upon child support and visitation. You can also seek support from a professional counselor to deal with stress you might experience.
Begin Preparing for Your Future
You will feel much more in control during your divorce proceedings if you immediately begin preparing for your future. It might be difficult, but you should avoid focusing on past mistakes, and instead construct a viable plan for your future. Make good faith attempts to work with your spouse on reaching mutually beneficial agreements regarding child custody issues and property division rather than contesting everything throughout the divorce proceedings.
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Understanding the Requirements for a No-Fault Divorce
Maryland divorce laws allow both no-fault and fault-based divorce cases. If you inform your divorce attorney serving Owings Mills that you would like to seek a no-fault divorce, he or she will ask you if you have minor children in common with your spouse. Previously, Maryland divorce laws required spouses to prove a legal separation of one year before seeking a no-fault divorce. If only one of the spouses wanted a divorce, that time period was lengthened to two years.
However, new legislation has eased these requirements for some spouses. You may not need to prove a legal separation if you do not share minor children with your spouse. To eliminate the waiting period, you and your spouse must also mutually agree to the divorce and agree to a property division arrangement. If you and your spouse cannot meet these criteria, you can still obtain a no-fault divorce after fulfilling the legal separation requirements.
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Advice for Dealing with Alimony Disputes
Alimony, or spousal support, is money that the court may order one ex-spouse to pay to the other for the purpose of maintaining the same standard of living that was enjoyed during the marriage, or to maintain a standard of living similar to the other spouse. There are many types of disputes that may arise pertaining to alimony. For all of them, you can turn to your divorce lawyer for assistance. You may experience alimony disputes while the divorce is still pending. For example, your spouse may argue against the amount of the payments. Either spouse may attempt to hide assets to obtain a financially favorable outcome. It’s also common for alimony disputes to arise well after the divorce has been finalized, such as the failure of one spouse to make payments.
Maintain Detailed Records
Keeping your financial records up-to-date is always a good idea, especially if you are paying or receiving alimony, or if you expect to do so in the future. For example, before you have your family lawyer file the divorce petition, create a detailed inventory of all of your assets and your spouse’s assets. This reduces the possibility that your spouse will try to conceal assets. Moving forward, retain copies of your recent bank account statements, pay stubs, and receipts for any major purchases.
File a Motion for Enforcement
If you are receiving alimony payments and your ex-spouse suddenly stops making payments or only submits partial payments, it’s time to schedule another appointment with your family law attorney. Depending on the circumstances, you may wish to speak with your ex-spouse first to determine why he or she has stopped sending payments. If the problem occurred because of job loss, you might consider having your lawyer draft a written agreement to temporarily modify the alimony arrangement. Otherwise, you can ask your family law attorney to file a motion for enforcement or petition for contempt. This is a petition that requests the court to enforce the court-ordered alimony agreement.
Petition the Court for a Modified Order
Either spouse may consult an attorney to seek a modified alimony agreement. If you’ve experienced a significant change in circumstances that requires you to receive more or pay less alimony, you can ask your attorney to file a petition with the court. Be prepared to show documentation to prove your change in circumstances.
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What You Need to Know About Child Custody Disputes
In an ideal divorce or legal separation case, both spouses would be able to mutually agree upon a child custody arrangement that serves the best interests of the child. However, child custody is usually more complicated than this. If you’re thinking about filing for divorce and you share minor children with your spouse, you should consult a child custody lawyer serving Owings Mills as soon as possible. Your lawyer can help you understand the child custody laws that may apply to your case.
Amicable Resolution of Disputes
When you and your spouse cannot agree on child custody, the judge may order both of you to attend mediation sessions. During these sessions, an impartial mediator will facilitate a discussion in which both spouses try to negotiate an acceptable custody arrangement . Although doing so can be difficult, it’s best to try to set aside feelings of animosity toward your spouse and to work together for the sake of your child. When successful, mediation can help spouses establish a long-term working relationship. When mediation fails to resolve child custody disputes, the matter is turned over to the judge.
Parental Communication Issues
Your divorce lawyer may have already informed you that Maryland child custody laws allow judges significant discretion in determining child custody. Judges must evaluate the totality of circumstances to determine which arrangement is in the child’s best interests. One of those factors may involve the ability of both parents to communicate with each other. This is particularly important for establishing whether parents will share joint legal custody. Each spouse must demonstrate that he or she is capable of mature conduct when communicating with the other party in order to reach decisions for the child’s upbringing. It is not necessary for ex-spouses to agree on every detail of childrearing; however, they should be able to work together to make major decisions, such as those involving healthcare and education.
Primary Caregiver Role
Another factor involved with resolving child custody disputes is the primary caregiver of the child. The judge may consider which parent fulfilled this role when making decisions regarding physical custody and visitation. This factor is particularly influential when the child is young. If you are seeking primary physical custody, your divorce lawyer may advise you to begin documenting your responsibilities as the child’s primary caregiver.
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Could Dating During Divorce Affect Your Case?
Dating while a divorce case is pending is not advisable for a few reasons. As your lawyer in Baltimore County can explain to you, Maryland courts will allow a no-fault divorce if spouses with minor children have voluntarily lived apart each day for one year. Bear in mind that if one spouse does not want a divorce, this time period increases to two years under divorce laws in the state. Maryland family laws also allow for fault-based divorces, which do not require documentation of a legal separation. One of the grounds for a fault-based divorce is adultery.
Until your divorce is officially finalized, you are still legally married even if you have been living apart from your spouse. This means that if you begin dating prematurely, you could be considered to be an adulterer. Additionally, your spouse may introduce evidence of possible misuse of marital funds, such as by diverting martial funds to pay for expensive vacations or luxury items for your date. If this occurs, the court may consider these issues in light of whether you or your spouse is requesting spousal support.