Financial Issues When Divorcing

//Financial Issues When Divorcing

YOU ARE NOT THE LEGAL BENEFICIARY

Bruce and Linda were married. Bruce purchased two life insurance policies and an annuity from New York Life, and the Equitable Annuity. At the time Bruce purchased the policies, the beneficiaries of the policies were Linda and their children. Later, Linda filed a dissolution action against Bruce. By agreement of both Bruce and Linda, the [...]

By | May 15th, 2019|Financial Issues When Divorcing|0 Comments

EMPLOYERS MUST PAY OUT WHEN THEY ARE SERVED WITH A WITHHOLDING ORDER

The trial court entered a judgment of dissolution of marriage.   Husband was ordered to pay $370 per month in maintenance to wife when their farmland sells. An auction was held that same month.   The sale did not take place yet. Wife filed a wage garnishment against husband’s employer.  The employer did not pay out to [...]

IS IT CIVIL OR CRIMINAL CONTEMPT?

The trial court entered a judgment of dissolution.  A few days before trial, wife’s attorney was allowed to withdraw from representing her.  On the same date that the attorney had filed the motion to withdraw. Wife was awarded a condo owned by the parties. Wife was required to pay all expenses associated with the condo.  [...]

By | April 19th, 2019|Financial Issues When Divorcing, Uncategorized|0 Comments

WAS HE LYING THEN, OR IS HE LYING NOW?

In a divorce case, there was a disputed $1,551,616.48 Fidelity account. At one time, this account contained husband's premarital fund.  It was a joint account between the parties. Later, husband transferred the account solely to wife. Husband testified he transferred the account to wife to protect the account from two malpractice actions that were then [...]

WHO SHOULD RUN THE BUSINESS?

Husband filed a motion for a preliminary injunction against wife.  He had filed divorce proceedings.  He wanted the court to stop her from participation in the operation of their family-owned tavern. The trial court granted his request.  The wife appealed. The Appellate Court agreed with the trial court.  Wife had been employed as a bartender [...]

SITTING ON YOUR RIGHTS-YOU SHOULD HAVE STOOD UP SOONER

The Appellate Court agreed with wife’s argument that the trial court should not have entered a default judgment against her.  It had contained a joint custody order.  It contained full detail on how the parties were to share responsibilities and time with the children.  It divided up the assets between the parties.   It divided the [...]

MAN DOES NOT WANT TO PAY ATTORNEY FEES

Husband engaged an attorney to assist him in the divorce.   They executed a written engagement agreement providing for a $ 2500 retainer.   This could be exceeded only by executing a further writing. A divorce was entered.  The attorney who assisted husband filed a petition to set final attorney fees and costs against husband.  The petition [...]

By | March 19th, 2019|Financial Issues When Divorcing|0 Comments

WHAT EXACTLY IS A SUBSTANTIAL CHANGE OF CIRCUMSTANCES?

The Trial Court denied husband's petition to modify his child support obligation. The Court found nothing to indicate that husband's child support obligation was based on the parties' mutual understanding.  Husband said they had agreed that wife would remain unemployed so long as husband was paying child support. The court interpreted this as follows.  The [...]

By | March 19th, 2019|Child Support, Financial Issues When Divorcing|0 Comments

BE CAREFUL WITH THE DRAFTING OF PRENUPS AND BENEFICIARY DESIGNATIONS

It was a month before they were married.  Toni and Charles signed a "Premarital Agreement." They agreed that the property of each would remain separate after their marriage.  They explicitly waived any right to each other's property. Two years after they were married, wife died. Her estate and her father now seek to enforce the [...]

SHOULD I SIGN THE PRENUP OR DELAY THE WEDDING?

Wife appeals from an order upholding a pre-nuptial agreement she and husband had signed.  The agreement provided that in the case of a divorce, wife would be given $1,400 per month for six years. She would also be entitled to half of the marital property, including furniture purchased after the marriage. Marital property was defined [...]

By | March 8th, 2019|Financial Issues When Divorcing|0 Comments