Financial Expert Gives Excellent Advice for Messy Divorces, by Annette Gomez
“Modern divorce is not about who was the meanest or who slept where. It’s about the money. Both spouse’s income and assets are — or should be — on the table. But couples don’t always know a lot about each other’s finances, or where to look. They might not even realize how much less they’re worth, due to the squeeze on incomes and the housing depression.
Divorce rates fall during hard times because couples can’t afford the split. But for people quitting anyway, the struggle ramps up. Here are 10 tips for getting the most out of a diminished marital pot:
1. Follow the money. If you don’t know much about your spouse’s finances, or aren’t sure that everything is on the table, snoop. Any financial documents can be a clue to income or property: Online bank and investment accounts, life and homeowners insurance policies, payroll and retirement-plan statements, financial statements filed when you took out a mortgage, a copy of the will or trust, credit card statements, and tax returns (if you don’t have copies of them, you can get joint federal returns for the past five years by filing Form 4506-T)….” Follow this link to read the full story:
http://moneywatch.bnet.com/economic-news/blog/make-money/10-steps-to-avoid-losing-your-shirt-in-a-divorce/945/
The best way to get through a divorce is amicably. But when faced with someone who is less than forthcoming with information needed to enter into an agreement knowingly and intelligently, I think the tips in this article are excellent advice and should be seriously considered. I would add an 11th tip and that is to consult with a good attorney for legal advice and direction about your particular situation, even if you will be representing yourself in court.
TweetJust Doc Prep Congratulates Joel Smith, Operations Manager, by Annette Gomez
Joel Smith celebrates his one year anniversary as Operations Manager at Just Document Preparation, Inc., a low cost, legal alternative to the traditional attorney service.
In a very short period of time, he took an established & successful legal document preparation service and propelled it forward by refreshing & modernizing business practices, while growing the business. In the last 15 years Just Document Preparation has been helping consumers save thousands of dollars in legal fees, by assisting with a wide variety of matters such as divorce, custody, support, pension divisions, living trusts, probate, bankruptcy, and more.
Joel Smith reviewed all aspects of the business and made several improvements. Joel updated the company website, www.JustDocPrep.com, making it more informative and user-friendly. As more people rely on the internet to handle important business, Joel has made it easier for our clients to have more of their matters handled electronically without sacrificing the personal touch which is necessary in such important and often emotional matters. The biggest change that took place was the opening of a second office in Murrieta last spring which was well received in the community. Joel also made smaller changes in the daily operations to cut costs and increase efficiency. This year’s first quarter gross revenue has increased by more than 20% over the same period last year as a direct result of his efforts.
Although Joel will be receiving his MBA from California Baptist University in May of 2011, he has already been applying his education to the business. After graduation, his goal is to continue to increase quality access to the justice system with the latest technology and by opening more offices throughout the Inland Empire and beyond.
Just Document Preparation is located at 25186 Hancock, Ste. 110 in Murrieta and 7710 Limonite Ave, Suite N in Riverside.
How to Leave a Mess for Your Loved Ones A humorous look at a serious subject. By Annette Gomez, Provided by Just Document Preparation: Legal Document Assistant and Paralegal Services
let them wonder why your new spouse got the family home, and why they got nothing.
Don’t find out what the difference between a will and a living trust is. Then you won’t know that a simple will can lead to a
very expensive court proceeding. You won’t know why experts say that if you own real estate, you should prepare a living trust.
Put your kid’s name on your deed. Don’t ask your tax professional about the consequences of your actions, especially not
the transactions that involve big dollars. Does anyone really care if they have to pay more taxes than they should?
Procrastinate a little longer. Your lack of action only makes it more probable that your family will feud after you’re gone.
Everyone knows that you’re a busy person. Besides, there are more fun things to do right now.
Don’t organize your financial papers. Hide your insurance policies, deeds, titles, bank records, retirement documents and
bills in different places. Make sure nothing is up to date. If everything is on your computer, leave no clues as to what your
passwords are. Imagine your family’s surprise when they discover your past due bills and the collectors start calling. Remember,
the more disorganized you are, the longer it will take for them to figure it all out, maybe even years!
Don’t update your estate plan after your divorce. Your ex-spouse will appreciate getting a check from your retirement plan
and insurance company after you’re gone.
Family Law Case Don’ts
There is plenty of quality research and advice material out there for anyone who wants to handle their own divorce. Now from my 14
years of handling family law issues as a legal document professional, I’d like to share some of the problems I’ve witnessed firsthand
that hopefully you or someone you know can avoid.
1. Not seeking legal advice. If you have complex issues which are usually involved in a long term marriage, you should know the issues.
Sometimes when my clients seek an attorney’s advice for answers to their particular legal questions, they also become aware of
important issues they hadn’t thought of. If you are able to cooperate with your spouse and keep your case out of the courtroom, you will
be able to negotiate a fair settlement when you are both aware of all the issues and their ramifications.
2. Not seeking help in other areas besides the administrative. Getting divorced is much more than filing papers and making an
appearance at the court. Counseling or support to work through the anger and hurt, and to grow, (yes, grow from the ordeal) with the
help of a friend(s), a therapeutic professional, support group, spiritual advisor or any combination of the above.
3. Not putting the needs of your minor children above all else. Make this a priority over consuming yourself with negative and destructive
behavior. And using your children as your messenger to the other party, sounding board, or any other form of emotional support is not
healthy for them. Find another adult for help.
4. Withholding your children from the other parent because they didn’t make the child support payment on time. Unless there is any
form of substance abuse, violence or other harmful behavior, children need to have access to both parents.
5. Making verbal agreements with the other party that conflict with court orders. If you both agree to something other than what is
contained in your judgment, file the necessary papers to modify current orders. Too many times, I’ve seen it backfire on people when
they don’t update their cases to meet changing circumstances.
6. Not keeping a journal of important dates and events. Document dates of actual visitation, important events, names of witnesses to
events and child support payments. You might need this factual information for the court, Department of Child Support Services, the
Internal Revenue Service, or other authority. Your words alone are not enough.
7. Paying your child support in cash. A check or money order receipt provides proof of payments. Again, your words alone are not
enough if the other parent is stating that you aren’t paying when you have been.
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