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DIVORCE

WHAT EVERYONE SHOULD KNOW ABOUT MEDIATION

By |2019-06-05T10:03:16+00:00April 2nd, 2019|Categories: DIVORCE|Tags: , |

What Is Mediation? The goal of mediation is to use the assistance of a neutral third party to reach an agreement that is acceptable to both the parties. It helps both parties walk away with a satisfactory outcome, without the financial and emotional cost of a court case. The mediation process consists of a mutual endeavor. Unlike in negotiations (where parties are often entrenched in their positions), parties to a mediation usually seek out mediation because they are ready to work toward a resolution to their dispute. The mere fact that parties are willing to mediate in most circumstances means [...]

PROTECTING YOUR CHILDREN’S INHERITANCE WHEN YOU ARE DIVORCED

By |2019-06-05T11:19:07+00:00August 23rd, 2018|Categories: DIVORCE, ESTATE PLANNING, Trusts|Tags: , |

Consider this story. Beth’s divorce from her husband was recently finalized. Her most valuable assets are her retirement plan at work and her life insurance policy. She updated the beneficiary designations on both to be her two minor children. She did not want her ex-husband to receive the money. Beth passes away one year after her divorce. Her children are still minors, so the retirement plan and insurance company require an adult to be appointed to receive the inheritance Beth left behind. Who does the court presumptively look to serve as the caretaker of this money? Beth’s ex-husband who is [...]

BENEFICIARY DESIGNATIONS AND A BLENDED FAMILY: WHY YOU NEED TO THINK BEFORE YOU SIGN

By |2019-06-05T22:14:51+00:00August 23rd, 2018|Categories: DIVORCE, ESTATE PLANNING, Trusts|Tags: , , |

Whether you are in your first marriage or have remarried after a divorce, blended families are a common part of modern society. That being said, it is important to understand that blended families and subsequent marries create important and unique issues when it comes to estate planning. You may need to account for a prior spouse who is still caring for minor or disabled children, and also possibly make sure your current spouse and any children you had together – and any step children – are also taken care of after you pass away. The good news is that estate [...]

3 THINGS YOU MUST DO ONCE YOUR DIVORCE IS FINAL

By |2019-06-05T22:24:59+00:00August 23rd, 2018|Categories: DIVORCE, ESTATE PLANNING|Tags: , , , |

The divorce process can be long and expensive.  However, the work does not end once the divorce decree is signed. In order to ensure that your assets and estate planning wishes are carried out in light of this major life change, there are three things you must do as soon as possible. Change Beneficiary Designation On Life Insurance A life insurance policy is a contract between you and the insurance company.  You designate the beneficiary (the individual(s) or entity who will receive the proceeds upon your death) and the insurance company will pay them when you die. Because the beneficiary [...]