divorce proceedings

When It Comes to Splitting Assets in A Divorce, More Is Not Necessarily Better

July 1, 2023 | Kearns Rotolo Law

Divorce is a highly emotional process, and it is safe to say couples sometimes let these emotions guide their decision making. There are certain aspects of divorce, however, that are better handled with a clear head, namely decisions affecting your children and your future finances.

One of the most contentious steps in a divorce is deciding on the distribution of assets. When you are making demands based on anger and hurt, it is nearly impossible to reach a fair and equitable agreement. But for your own long-term well-being, and possibly that of your children, now is the time to consider the implications that taking or giving up certain assets may have on your financial future. For an understanding of the different types of assets you may have, as well as their costs and associated taxes, read “What you need to know about splitting assets in a divorce.”

Deciding A Course of Action When Your Marriage Is Over

January 1, 2023 | Kearns Rotolo Law

Most couples facing the end of their marriage immediately think divorce, but there may be another option available—an annulment. While a divorce is the legal process for dissolving a marriage, an annulment—also a legal procedure—deems the marriage null and void as if it had never occurred in the first place. An annulment is often quicker than a divorce, however, it is not available to everyone. Very specific requirements, including time limits, must be met before an annulment can be granted and those requirements can vary by state.

Before you decided whether to seek an annulment or a divorce, it is important to understand the differences between these two legal procedures, as discussed in, “Annulment Vs. Divorce: What’s The Difference?” If you are still uncertain which course of action to pursue, your Family Law attorney can advise you.

When Will My Divorce Be Finalized?

October 1, 2022 | Kearns Rotolo Law

Divorce is not a decision most people come to lightly. Many couples will invest significant time—often years—trying to resolve conflicts and fix problems in relationships they believed would last a lifetime before concluding that divorce is their only answer. So by the time they reach that decision, it’s understandable that they just want the whole process to be over. But divorce doesn’t happen overnight.

How long the divorce process takes depends on numerous circumstances unique to the individuals involved: Is the divorce a contentious one? Are children involved? What circumstances led up to the divorce? How many assets are involved? Even where a couple lives can impact their divorce proceedings. For more on how these and other circumstances can affect the timing of your divorce, read the Forbes Advisor article, “How Long Does A Divorce Take?”

Determining Who Gets the House in a Divorce

May 1, 2022 | Kearns Rotolo Law

In a divorce, the answer to the question of who gets the house may not be a simple one. Essentially there are two ways to approach this question: let the court decide or negotiate an amicable agreement with your ex.

If you and your ex cannot come to a mutually acceptable agreement, the court will rule on the division of property and other marital assets under the Equitable Division Law. This ruling considers several factors and is meant to result in a fair, although not necessarily equal, distribution of property. Couples who would prefer to avoid the court process and negotiate an agreement between themselves have several options to consider. To learn more, read “How Divorce Impacts Property Ownership.”

Looking Ahead Can Help You Avoid Some Common Financial Mistakes When Divorcing

December 1, 2021 | Kearns Rotolo Law

When going through a divorce, couples can let emotions drive their decision-making process, especially when it comes to such issues as divvying up their assets. The more contentious the divorce, the more likely the scenario of a spouse fighting for assets simply to keep them out of the hands of their soon-to-be-ex.

Cutting through the emotions associated with divorce and looking ahead at the realities of their financial situation can help couples avoid long-term mistakes. To learn about some of the more common financial mistakes divorcing couples make read, “5 Money Mistakes to Avoid When Going Through a Divorce.”

Understanding Child Support

August 2, 2021 | Kearns Rotolo Law

When parents are seeking a divorce, some of the biggest issues they will need to resolve involve their children, specifically custody arrangements and child support.

On the most basic level, child support is intended to cover the essential, daily needs of the children: food, clothing, and shelter. But support payments can also extend to cover additional expenses, including those related to education, healthcare, employment-related childcare, and extra-curricular activities. These additional expenses can often be a source of conflict between divorcing parties. If the parents cannot come to an agreement on how to divide these expenses, the court will intervene.

To prepare yourself to negotiate an equitable child support agreement or to better understand the court’s ruling, read “The Ultimate Guide to Child Support.”

Why Rushing Your Divorce Is Never A Good Idea

July 1, 2021 | Kearns Rotolo Law

For most couples, divorce isn’t a decision arrived at overnight. Usually, the decision to divorce comes after long periods of living with irreconcilable differences and numerous attempts to resolve conflicts. It is understandable then why, once the decision to divorce is finally reached, couples just want it to be over with so they can get on with their lives. Rushing through the divorce process, however, can be a bad idea.

No matter the reasons behind a couple’s decision, divorce can be a very emotional process. Those emotions can hamper a couple’s ability to make good, sound decisions. Agreeing to something for the sake of getting the divorce over with can negatively impact life post-divorce. To learn more about why rushing through a divorce is never a good idea, read “How Long Will My Divorce Take?”

Amending A Divorce Settlement Can Be Difficult

June 1, 2021 | Kearns Rotolo Law

When negotiating your divorce settlement, it is important to carefully review every detail. Once a settlement agreement is reviewed and signed by both parties, the divorce is considered finalized. What happens then if it is discovered that something has been left out of the agreement? What recourse, if any, do you have?

The answer depends, in part, on whether the oversight is discovered by both spouses who then agree on the distribution of the assets involved, or if only one spouse realizes that an oversight has been made and seeks to amend it. To learn more, read “Steps to Take When an Issue in a Divorce Settlement Is Overlooked.”

What You Should Do Before Hiring A Divorce Attorney

January 1, 2021 | Kearns Rotolo Law

The past year brought unprecedented challenges that caused many of us to reassess various aspects of our lives – our jobs, our lifestyles, our relationships. For many couples, the challenges proved too much, leading them to contemplate divorce.

Terminating a relationship is a big step not to be entered into rashly. Before you hire a lawyer and sign your divorce papers, there are several things you should do to make sure the decision to divorce is right for you and your family. And, if it is, these steps can help ease your transition to your post-divorce life. To learn more, read “Decided to Divorce? Here’s Where to Start.”

In a Divorce, Who’s Left Holding the Credit Card Bills?

April 1, 2019 | Kearns Rotolo Law

Marriage is a partnership, therefore, it is not unusual for couples to share both assets and liabilities while they are together, but what happens in a divorce? Usually spouses, with the help of their lawyers, will work to reach agreements for the distribution of property and other assets. The court may intervene if amicable agreements can’t be reached. However, the distribution of debt, particularly credit card debt, is a different story.

Depending on the specific circumstances of a divorce, the court may make determinations on the repayment of debt. For instance, the court may rule one spouse is solely liable for the debt repayment, or it can rule on the percentage of liability each spouse holds for the satisfaction of their debt. That ruling, however, does not negate the original terms of the credit agreement. Because credit cards represent a contractual agreement between card issuer and cardholder (i.e., the person in whose name the card was issued), credit card companies hold the cardholder ultimately responsible for any and all payments due on the card. That holds true even if the charges were made by someone else, such as an authorized card user. If a court rules someone other than the cardholder is responsible for debt repayment, it is up to the cardholder to see that ruling is enforced.

To learn more about divorce and credit card obligations and the recourse you may have, read “This is how credit card debt gets split up in a divorce.”