Babies before marriage may carry less stigma in Wisconsin

If a woman had a baby prior to getting married at any point between 1985 and 1995, she was 60 percent more likely to get divorced. However, that same woman would not be any more likely to get a divorce if she had a baby before getting married between 1997 and 2010. This is according to a study conducted by the nonprofit Council on Contemporary Families.

There were two possible reasons cited in an effort to explain that finding. First, there tends to be less of a stigma that comes with having a child before a couple got married. Second, the number of parents who were not married increased from 17 percent to 35 percent between the two time periods. Overall, researchers say that couples who are not married are taking things at their own pace, which may reduce the urge for a shotgun wedding.

Researchers believe that there is more of an acceptance of those who decide to cohabit before getting married. However, the research did reveal that 30 percent of cohabiting couples who were together for more than five years but who never got married ended up separating. It is believed that lower education levels and incomes could be behind this number, but researchers did say that such variables were taken into account during their analysis.

A parent who is facing the end of a marriage may want to obtain the assistance of a family law attorney regarding the variety of divorce legal issues that are likely to arise. In many cases, the attorney can play a part in negotiating a settlement agreement that addresses custody and visitation, among other matters.

Emotions may cloud financial issues in divorce

Wisconsin couples who are facing the end of their marriages must also take a look at their financial matters. Before sitting down with an attorney or another professional, they should look at their own income, debt and assets as well as that of their spouse. They should also look at their joint marital assets.

People may not realize how fully their financial situation might change after a divorce. In addition to paying child support and alimony, they may also have to take on a rent payment or factor in higher utilities. Property division might include splitting up a jointly owned business.

Dividing retirement accounts may be complicated because a lump-sum disbursement can trigger tax penalties. A financial or tax adviser might be useful in navigating some of these issues. It is also necessary to review documents and accounts that have a beneficiary designation such as life insurance. Because divorce can cause emotional turmoil, individuals who are divorcing do not always make the best decisions. Working with legal and financial professionals can be helpful in ensuring that they do not later regret the agreements they came to in a divorce settlement.

For example, people may wish to consult an attorney during their divorce even if the divorce is not acrimonious. Some decisions may have tax, legal or financial ramifications a spouse is unaware of. The situation can become particularly complex in higher-asset divorces. One spouse may attempt to conceal assets, or the process of determining what and where the assets are may be complicated. There might also be a dispute over what is considered joint marital property. For example, an inheritance may or may not be depending on factors such as whether the asset was commingled with other marital property. Furthermore, if the couple previously signed a prenuptial agreement, one might choose to challenge it in court.

Divorce mistakes and how to avoid them

When Wisconsin couples divorce, emotions often run high. What had once been a loving and respectful relationship is now coming to an end and there are likely to be bad feelings on both sides. Unfortunately, many divorces become far more difficult and expensive than they have to be because of choices made by one or both spouses during the process.

In many cases, draw-out disputes could be avoided if both partners took responsibility for their actions during the legal process. It is not unusual for partners to feel slighted, annoyed and even harassed by their soon-to-be ex-spouse. Unfortunately, the adverse effects of such behavior are compounded when the slighted spouse responds negatively. At this point, mudslinging becomes more important than carefully negotiating the terms of the divorce.

There are several ways in which couples can avoid this sort of conflict. One is to tap into social and professional resources, such as friends, support groups and counselors for help in managing the understandably confusing emotions that accompany marital breakups. The other is for each of the parties to take the time to find a divorce attorney who has a good understanding of his or her client’s needs and goals.

Scheduling a consultation with an attorney may be a very good option for many individuals facing the end of a marriage. The attorney may be able to review the case in its particulars and make suggestions regarding issues of spousal support, parenting time and asset division. In addition, the attorney may be able to handle delicate negotiations in a way that minimizes conflict between the spouses. This may result in a divorce that is less time-consuming and personally challenging for both parties.

Important items may be overlooked during divorce

Wisconsin couples who are going through the divorce have many things to consider, and some items might be overlooked as a result of the stress and emotions that often accompany the end of a marriage. A few tips may help the process go more smoothly.

A divorcing spouse should gather financial information together early. It may be helpful to make out a list, and copy all needed documents beforehand. That way, if documents disappear, the papers an individual needs will be safely gathered together. People should also remember that their retirement accounts, insurance policies, wills and other documents name beneficiaries. An individual who is divorced may be busy trying to get his or her life back together, and these important documents may be overlooked. Changing those beneficiary designations prevents an ex-spouse from collecting. In addition, if an individual is granted part of a retirement account as part of the divorce settlement, a qualified domestic relations order will need to be prepared and approved by the court.

Estranged spouses should ensure that personal items, family photos, mementos, jewelry and similar items are protected during a divorce. The safest place would be somewhere other than at the house, perhaps at a friend’s residence or placed into storage. During the divorce process, items might disappear. Afterward, because a newly divorced individual is busy, a delay in retrieving personal items may not guarantee that they will be there. Obtaining a copy of a credit report lets an individual ensure that all credit cards and bills are accounted for, so there are no surprises coming in the mail later. It also ensures that all debts are included in the property division.

The end of a marriage is often a time of great change, and consulting a family law attorney is a good first move. An attorney can provide advice and counsel at each stage of the process, including the negotiation and preparation of a comprehensive settlement agreement.

How divorce affects Wisconsin entrepreneurs

Entrepreneurs in the state of Wisconsin should be aware of the potential ramifications to their business before they divorce. Many entrepreneurs forget that their business is generally considered a marital asset and therefore is subject to consideration when assigning valuation to the estate, leading to unpleasant surprises in court when matters such as spousal maintenance, child support and other expenses are determined. By understanding how divorce may influence their business, entrepreneurs can better protect themselves.

During a divorce, all the assets of both partners are generally considered. This includes the business interests of both parties. For example, terminating a former spouse who still works for the business may lead to a further lawsuit for wrongful dismissal. Likewise, an entrepreneur must declare the business’s full value at the outset, because if the court discovers hidden assets later, the court is more likely to react negatively to the spouse who attempted to conceal them.

However, if the business was established before the marriage, the business may be considered non-marital property and therefore given less weight or not considered at all in the divorce. How the business is structured, when it was established and how much contribution the spouse made are all factors that may influence how the business is considered in divorce proceedings.

During a divorce, an attorney may start with establishing the valuation of the marital estate, including all assets and debts the couple shared. Once this has been done, the attorney, spouses and other counsel may work to craft a property division agreement that is fair and equitable to all parties. The attorney might then present the agreement to the judge, who may accept or reject the agreement depending upon other relevant factors in the case.

Tips entrepreneurs heed during divorce

For Wisconsin entrepreneurs, one of the most frightening concerns is the thought of losing their business in divorce proceedings. While many individuals may focus on real estate or retirement accounts, entrepreneurs have generally spent years developing a business. By taking certain steps during the divorce process, they may be able to protect their investment.

Before an entrepreneur starts to be concerned about property division, he or she may seek legal advice or research the relevant laws pertaining to ownership of the business. If the business was a solo operation, the other spouse may not be entitled to half of the business. Instead, the proportion of the business that may be subject to division can rely on a number of factors, such as the role of the other spouse in the business, the length of the marriage and the ways that the parties contributed to the business and the marriage. Before the entrepreneur begins to think about how the business will be treated, all of the assets of significant value may be identified and evaluated. This process involves evaluating the business assets and possibly getting an appraisal of the business itself.

An important consideration in the divorce process is how the entrepreneur wants to proceed after the divorce. He or she may wish to continue operating the business. He or she may want to sell off the business and split the proceeds. This may also require going back to the couple’s worksheet and trading other assets in exchange for a greater stake in the business.

Another step that entrepreneurs take during the divorce process is to choose their divorce team wisely. They may retain the service of a tax adviser, accountant and family law attorney. Legal counsel may provide the entrepreneur with guidance on the legal issues involved in the case and an objective opinion regarding how to approach the process.

On spouses who hide assets

Wisconsin residents who are considering a divorce should be aware that it is not uncommon for money troubles to lie at the root of their marital difficulties. Recent studies have produced some revealing statistics relating to marital financial issues.

It is surprisingly frequent to find spouses who feel that it is acceptable to leave their partners out of financial decisions. About 20 percent of married people said that they would make a purchase of $500 without informing their spouse of it. Surveys find that approximately 6 percent of all married people have opened a bank account that was hidden from the spouse. About 10 percent of all spouses describe their partner as financially controlling, demanding unfair domination over the couple’s economic affairs. It is also regrettably common for one spouse to hide assets from the other.

Statistically speaking, the discovery that a spouse has concealed a bank account or other assets should not be taken as an encouraging sign. Although there is no absolutely reliable predictor of the end of a marriage, this has appeared as a consistent factor in many surveys. Issues with money are one of the leading predictors of eventual divorce, and hiding assets speaks volumes to problems with trust and responsibility.

Property division can often be one of the most contentious parts of the divorce process, and it can be even more difficult when one spouse is believed to have been less than forthcoming regarding financial matters. An attorney can often be of assistance to a divorcing spouse who is concerned that the estranged partner has hidden assets, and in some cases the attorney may suggest obtaining the help of a forensic accountant in that regard.

Source: Deseret News, “The top predictor of divorce — and how to avoid it”, Herb Scribner, Nov. 2, 2015

Increasing divorce rates among older people

While many people in Wisconsin end up divorcing, the divorce rates for most age groups have been falling for years. Among those who are over 50, however, the rates have been instead steadily climbing.

According to researchers from Bowling Green State University, twice as many couples over the age of 50 divorced in 2014 than did those over that age in 1990. Other researchers have also found that more than 50 percent of people between the ages of 25 and 50 have considered getting divorced at some point. Most who have considered it decide to try to work it out, and many report they are happy they did.

Researchers believe older people may be increasingly seeking divorce for one of several reasons. They point out that many people in this age group are in their second marriages, which have been shown to be two and one-half times as likely to end in divorce as a first marriage. Another reason may be related to the increasing life span. Although people may not be in terrible marriages, they may decide to end their relationship rather than spending 20 or 30 more years in one that is no longer loving. Older people may also simply be better able to handle the expenses associated with divorcing than younger, less financially secure couples.

Property division can be highly contentious in a divorce. When a couple has been married for a long time, untangling their finances while also helping to preserve their ability to retire may be complicated. A senior citizen who is facing the end of a marriage may want to have the assistance of a family law attorney in negotiating a settlement agreement that addresses this matter as well as other divorce legal issues that may be applicable.

Who got what in the Banderas-Griffith divorce

Wisconsin residents who were surprised to hear about the end of the 19-year marriage between Antonio Banderas and Melanie Griffith may appreciate that the pair said they wanted to respectfully end things out of consideration for each other, their loved ones and the time they spent together. The pair’s dissolution was filed on Dec. 4 in L.A. Superior Court, and it seems that the former spouses stuck to their commitment to act amicably when they finalized their divorce.

The couple apparently benefited from a post-nuptial agreement that allowed them to divide some assets without hassle. This agreement was entered into in 2004, and the effect of it is that both stars will split revenues from entertainment projects that they participated in between then and May 31, 2014.

The 58-year-old Griffith will receive $65,000 a month as spousal support while 55-year-old Banderas has also agreed to pay for their daughter’s education expenses through Sept. 2021. When it comes to real estate, both parties split almost $16 million from selling two adjacent Hancock Park properties. Banderas kept a Manhattan property while Griffith kept a house in Aspen. The couple also had business assets to split in addition to home items, and Banderas receives music equipment and electronic items while Griffith gets her clothes and jewelry. Six vehicles also go to Griffith while Banderas keeps his motorcycles.

There are many elements involved when it comes to property division. Generally, anything obtained before a marriage is separate property while things acquired after a marriage are joint property. This can get complicated if one party owns a home or a business but the other person added value to the asset, so one may need to contact an attorney when going through a divorce.

Starting the new year with a divorce

Many people in Wisconsin consider the new year a time for a fresh start, and one of the ways that couples often begin anew is to end a marriage that is failing. According to the American Academy of Matrimonial Lawyer, the number of divorce filings in January goes up by one-third. If someone is considering a divorce, however, it’s important that they get their affairs in order to make the process as painless as possible.

Since Wisconsin is a community property state, assets that are considered to be marital property will be split down the middle. Therefore, people should get a complete list of their assets and debts and also determine if any assets could be exempted from being considered marital property.

People should also gather their tax documents and consider how their filing may be affected by a divorce. Following a divorce, individuals will not be allowed to take advantage of joint filing status. Additionally, if an individual gives up their property, they will no longer be able to benefit from homeownership tax breaks. Understanding tax implications can help people plan for their post-marriage future.

Filing for divorce often means major changes in someone’s life. In addition to the fact that many people will go from living on two incomes to one, individuals will also have to come to agreements about dividing assets and, if they have children, topics related to custody and visitation. A lawyer could explain to someone how the law decides these matters and provide in-court representation.