Are Prenups Only For High-Asset Owners?

Signing a prenup or getting your spouse to sign one before the marriage can be quite deterring. But this agreement can be worth a ton if ever the marriage crumbles. And at present, the statistics remain close to 50% of marriages that end up in divorce.

Many believe that prenups are only for those who have significant assets to be protected. But this is not true. A prenup lets you arrange for specific items if ever things do go wrong. Deciding on what’s marital property and what isn’t can be difficult in some cases. But a prenup lets you set limitations on some assets as to if they will be divided during a divorce.

Laws regarding divorce and family law, in general, are not the same in every state. Therefore, a considerable difference may occur when getting a divorce in one state and another. Your prenup lets you resolve that problem. You can include a provision that gives precedence to the laws of the state in which you marry. In that way, you can make sure that the laws remain the same no matter where you go.

But there are some important pointers to bear in mind. A prenup cannot include any provisions of child support or child custody. These matters are left to the judge to decide based on the child’s best interests.

Looking for an Orlando Divorce Attorney who is skilled and competent? A Divorce Attorney who can get you the best outcome of your divorce? Your Divorce Attorney will play a key role during your divorce. Therefore make the right choice and select the best. Call our office now to make sure that the best attorney in town is on your side during your divorce.

Minimizing Conflict In A Divorce

Do divorces always have to be high-conflict cases? No. The amount of conflict involved in each divorce case depends on various factors. Those include the divorce lawyers and the soon-to-be ex-spouses.

When going through a divorce, it is essential to minimize conflict as much as possible. There will be many instances that can set you off, but high conflicts can only be pitfalls during a divorce.

What role does your divorce lawyer play in helping to minimize the conflict in your divorce case? It is more significant than you think. There are many lawyers who instigate disputes in divorce cases purposefully. The ulterior motive is to drag the case on for long periods and therefore earn more from that case. They can even turn the most amicable of divorce cases to high-conflict divorce cases. But there are also skilled divorce lawyers who know how to handle divorce cases while minimizing conflict. They help the spouses during mediation and enables the settlement of many issues without the need for litigation. All that, while making sure that their client’s rights remain protected. That is why you need to put careful thought into it when picking your divorce lawyer.

It is also best to remember that you won’t walk away with everything at the end of a divorce. A fair settlement will cause both parties to settle somewhere in the middle. Many spouses who fail to realize this also end up in conflicts during their divorce.

Minimizing conflicts during a divorce can help the spouses get a more productive result in a short time duration.

Are you looking for a competent Divorce Attorney Orlando? A Divorce Attorney Orlando who can help you during these challenging times? Look no further when you’ve reached the Erin Morse Law Firm. Call now to make sure that a competent yet affordable divorce lawyer is on your side. Make an appointment to discuss your case with us.

Hidden Assets And How They Relate To Divorce

It is not unusual for a spouse to hide income and assets, especially if the divorce action has been planned well in advance. A spouse may want to hide income and assets for a variety of reasons. When these financial issues arise in a divorce, it can sometimes be difficult to keep track of any unreported income and hidden assets.

Most Common Types of Hidden Assets

Hidden Assets come in many forms, the most common include cash, bonds, insurance policies, mutual funds, annuities, stocks, pension funds, 401Ks and IRAs. Also, a spouse may convert cash into personal property such as antiques, automobiles, boats, art, jewelry or guns. These are examples of asset conversion that may be overlooked or undervalued in a divorce action.

Can Hidden Assets Be Discovered?

Finding hidden assets is often one of the most difficult tasks during the divorce process but through diligent and effective preparation, it is possible to discover hidden assets not disclosed or acknowledged by the opposing spouse.

The first step is through the discovery process by serving interrogatories on the opposing spouse, taking his or her deposition and issuing subpoenas to third parties such as banks. If the opposing spouse fails to produce the documents requested, the court can compel the opposing spouse to produce the requested documents, sanction them accordingly and order them to pay attorney’s fees and costs.

The second step is to consider hiring an investigator to trace the transfer of ownership of assets into another individual’s name or other entities’ names. Hidden assets are typically placed with a trusted third party or behind false documents. It is vital to have the names, nickname(s) and aliases of family members or close friends who may assist the spouse in hiding assets along with their current and past address information.

Specific information concerning your spouse’s lifestyle may reveal the likelihood of hidden assets. If debt has not been increased and there was no inherited money then there is an excellent possibility that unreported income is supporting your spouse’s lifestyle and other hidden assets. Conducting a lifestyle analysis to compare what your spouse reports as income to his or her lifestyle can uncover hidden assets and unreported income.

Here is a list of questions that may help.

  • Is your spouse a frequent traveler? When they travel what type of hotels do they frequent and what type of activities does your spouse engage in when they travel?
  • Do they gamble, travel to banking havens or play golf?
  • Who are their friends? What type of people are they and what are their interest?
  • What types of purchases is your spouse making, what kind of car does he or she drive, is there a boat or other like toys?
  • Is there a disparity between the lifestyle your spouse leads and the income reported?
  • Is your spouse’s monthly credit card and banking statements mailed to the marital home, the spouse’s office, or accessible only be email?
  • Are there large amounts of cash under your spouse’s control?
  • Who is your spouse’s accountant and who prepares your spouse’s tax return?

Where To Look For Hidden Assets

There are many ways a spouse might conceal assets and the ways vary greatly with the individuals involved. In an attempt to hide assets, a spouse may involve the help of a family member or a close friend and often these individuals are unaware they are being involved in a scheme to hide assets. Another method of hiding assets is to place the asset such as investment certificates or other personal items into a safety deposit box in the name of a family member or close friend.

A spouse might conceal assets in plain sight by paying down a mortgage, credit card balances or other liabilities. A spouse may even give cash or other assets to a family member or close friend to hold until the divorce is finalized. Keep an eye out for things like having to make repayments on a debt to a family member or a close friend. It may seem to be a legitimate debt at first but it may be a form of another hidden asset.

Custodial accounts can be established by a spouse under a child’s name and social security number. A spouse may even transfer assets into pension accounts, profit-sharing accounts, a trust or a 401K account in an attempt of hiding assets from the opposing spouse.

A spouse who owns a business may use the business to conceal assets by not recording cash receipts or by paying a non-existing employee. Additionally, the value of a business before the divorce can be lowered by delaying the signing of a contract for goods or services until after the divorce is final.

Your spouse’s tax returns for the past 3 to 5 years can be an excellent source of information in locating hidden assets. The tax returns will show income earning assets, the sale of assets and the source of all income such as wages, salaries, interest, dividends, rental income, business income and the gains and losses from the sale of stocks. Their W2 will show whether your spouse has a deferred compensation plan.

Saving accounts and money market accounts could point to hidden assets such as stocks that pay a dividend or a bond that pays interest. Your spouse’s checking account could reveal the purchase of real property or other investments.

Contact an Orlando Divorce Attorney

Law Office of Erin Morse has the experience and tools to uncover hidden assets and unreported income. Our team of dedicated and compassionate family law attorneys can answer any questions you might have and help walk you through the process. If you have questions, or need advice, contact us today. We are here for you. Call (407) 900-7451 now to schedule your free consultation.

Lessons To Be Learned From Divorce

If you’re going through your divorce right now, it may feel as if it’s the worst time of your life. When your marriage goes downhill, it feels as if life is at its worst. Starting over may seem like near impossible and will drain your energy just thinking about it.

But remember that you are not the first or the last to have gone through a divorce. There have been many who have already gone through divorce, and there are still many who will be following you. And from those who have been there, you can learn a few valuable lessons.

Firstly, if you have gone through divorce, understand that now you’ve got the courage to get through almost anything. Simply put, divorce is one of the most challenging and draining experiences. After going through something like that, it builds up your courage and confidence. Starting over after something like that means conquering life in itself.

Also, remember that sometimes it doesn’t work out with the one you thought was your soulmate. Sometimes it’s just time to let go and start anew. Not everything after a divorce is negative. There are many who have turned life to the better after letting go of a toxic relationship. Holding on to an unhealthy relationship will not do you any good, no matter the reason for doing so.

A competent Divorce Lawyer should be always ready to help you out by providing the best legal counsel for your case. Your legal representation matters more than you think in your divorce. That’s why you need to put some thought into it and select the best Divorce Lawyer Orlando to represent you.

I am always here to give my best legal counsel to help you. Call my law office now to clarify any doubts that you may have. At Erin Morse Law firm, we work hard to provide our clients with the best service in the market.

What is Collaborative Law?

When a couple comes to the decison to end their marriage, they may expect a long and expensive divorce process. Many people do not know that there are harmonious ways of legally separating that protect you, your spouse, and children from the lengthy proceedings of a divorce. One way is through collaborative law, or a type of divorce agreement that lets a couple work together for the best final solution to suit their individual needs. All couples may not be able to come to an agreement but those that can are more likely to resolve their divorce without a court trial.

What is Involved in Collaborative Law

The first step in beginning a collaborative law divorce is to find a trusted family law attorney to represent both parties and walk a couple through the divorce process.

In order for a collaborative law divorce to work, there must be open communication throughout the whole process, ensuring that both parties understand and can agree on the final divorce agreement. A successful collaborative law divorce will also include the following elements:

  • Disclosure of documents
  • Mutual respect
  • Protecting children from lengthy divorce proceedings
  • Sharing cost and knowledge of legal experts
  • No court

By agreeing to work together, there is less paperwork, less time given to the courts, and less money spent on attorney fees. Although collaborate law is not for everyone, it can be a valuable asset to you and your family during this difficult time.

Benefits of Pursuing Collaborative Law for a Divorce

The collaborative law process offers a different approach to resolving family conflict. Rather than face a forced and sometimes undesirable outcome from a judge, collaborative law gives divorcing couples the freedom to find the best solution for their family’s specific needs. This is done through open communication and full disclosure under the supervision of a legal professional. If you would like to learn more about the process of collaborative law or other available options, an Orlando divorce lawyer at the Law Office of Erin Morse can help you.

Why Should You Consider Collaborative Law

Collaborative law allows couples to focus on their future rather than addressing conflicts from the past, and offers the following benefits for those looking to reduce the stress and friction in their divorce:

  • Reducing legal fees and paperwork
  • Resolving conflict quickly and efficiently
  • Maximizing the post-divorce parenting relationship
  • Promoting open communication to avoid unwanted roadblocks and conflict
  • Avoiding an undesirable outcome

Contact a Collaborative Law Attorney in Orlando

If you think collaborative law might be the right option for you, a legal professional in Orlando can answer any questions you might have and help walk you through the process. Our team of dedicated and compassionate family law attorneys want to help you make your divorce as easy as possible. If you want to avoid the expensive and long process of going to trial, contact our Orlando Collaborative Law Attorneys at Law Office of Erin Morse. Call us today at (407) 900-7451 for more information on divorce options that meet your needs.

What Happens If The Other Party Won’t Sign the Divorce Papers?

There are many misconceptions circulating among society regarding divorce. Many of those have originated from movies and TV shows which have then been rooted in our minds. Nevertheless, this article can help dispel one such myth.

What happens if your husband/wife refuses to sign the divorce papers? Does that mean you cannot get a divorce? That is not the case, here in Florida. Many believe that both parties have to sign the papers to get a divorce. Some spouses use this myth to their advantage to threaten the other. They refuse to sign the papers making the other believe that that will prevent the divorce from happening. That way they try to force the other to stay in the marriage.

But there is one fundamental requirement for a divorce to be granted here in Florida. The marriage should be deemed as irretrievably broken in one way or another. If one party wishes to leave the union, they can do so without the other’s consent or permission.

No hard and fast rule states that both parties should be in favor of leaving the marriage. Even if only one is in favor, the marriage can be deemed as irretrievably broken. Simply, there is no way of holding back a spouse who wants to leave the marriage for good.

That was only one such myth about divorce. There are so many circulating in society as of right now. Contact a competent Divorce Lawyer here to clarify all your doubts and dispel myths right away.

Looking for an Orlando Divorce Lawyer who can give the best legal advice to you? Contact Erin Morse Law Firm to get the best Orlando Divorce Lawyer for your case. Call our office right away to make sure that your rights remain protected during your divorce and afterward.