Children are not the only possible bargaining chip in a Wisconsin divorce. Sometimes, pets also become a pawn in the game of deciding who keeps what assets after a couple dissolves their marriage.
After all, most people become emotionally attached to their dogs, cats or other animal companions. In fact, a soon-to-be ex-husband or ex-wife might use the pet as a tool for extortion. For instance, he or she might try to fight for a furry friend they may not even want. Sometimes, they do this just so a spouse gives up some other valuable item, but how does this happen?
Well, spouses often negotiate possession of pets the same way they discuss ownership of a table, chairs, sofas, beds, coins or other objects. After all, the law usually considers animals pieces of personal property. Unlike in child custody cases, where the law requires that the best interests of the child be considered, the best interests of the pet may be ignored.
In most cases, the court probably would rule in favor of the original pet owner. However, the person who takes care of the animal and brings it to the vet for checkups might have some say in the matter. Otherwise, placement of the pet might depend on where the kids will live.
Another factor to consider is lifestyle. For instance, a person who travels all the time for business may have time for a dog, cat or other pet. Likewise, anyone who frequently reports to work on a moment’s notice might also not have the time to feed, groom or wash an animal. Therefore, the court may rule in favor of another person who stays home and has a more predictable work schedule.
Source: Forbes, “How Are Pets Handled In Divorce?“, Jeff Landers, April 17, 2014
Determining who gets the home in a divorce case
Couples in Wisconsin who have made the decision to divorce may find that a variety of other choices now must be made. Those ending their marriage must figure out asset division of everything from household furnishings to the family home itself. As a community property state, Wisconsin courts attempt to divide property acquired during the marriage as equally as possible in most divorce cases, leaving both parties with a comparable share of assets and liabilities.
Lawyers acknowledge that the couple’s home may be one of the more difficult assets to divide, simply due to the high value of a home. Dividing a home equally typically means that the home will need to be sold, with each spouse getting half of the equity. If the home is being lived in during the divorce, the expenses that occur, including monthly bills and maintenance or repairs performed, will usually be split equally as well.
If one individual wishes to keep the house, courts will determine if it is a viable choice by evaluating the budget of the spouse to ensure that they can afford the home and by making sure that the other spouse receives an equal amount of marital assets. Getting an appraisal of the home may be an ideal choice so that both parties agree about the value of the home.
Divorcing couples may be able to agree on property division during a divorce. If couples do not, their attorneys may be able to negotiate an arrangement regarding marital property in order to avoid a trial. Prenuptial agreements are also taken into account when dividing property in Wisconsin.
Source: The Huffington Post, “What to Do With Your House in a Divorce Case “, Christian Denmon, Denmon & Denmon Trial Attorneys, December 09, 2013
Preparing for divorce
While some Wisconsin spouses may decide to get a divorce in the heat of the moment, many spouses reach this decision after careful consideration. For these spouses, there are several steps that they can take to protect themselves before they start the process of filing for divorce.
One step is to prepare important financial records. They should have copies of important financial data for the last three to five years, and these copies should be secured in a safe location that the other spouse does not have access to. The information may include mortgage documents, income tax returns, bank account statements, information about investments and statements for retirement accounts and credit cards. This information can be used to help prepare a financial statement for the court. Once the divorce is imminent, a spouse should establish a separate checking and savings account. Joint accounts should be closed, and the spouse should also establish his or her own line of credit. These steps are necessary to establish one’s financial independence. A spouse who is considering divorce may also want to make copies of his or her spouse’s financial records so that this information will not be hidden once the divorce is impending.
At the same time, a spouse should also identify items that personally belong to him or her. These might be items that the spouse had before the marriage or gifts or inheritances. Preparing a list of these items and photographing them is helpful during the process. Getting evidence that these are personal items is also helpful. Also, the spouse might choose to move these items to a safe location to which the other spouse does not have access.
Another important step to take during this time is to contact an attorney. An attorney might be able to help the spouse achieve his or her goals, as well as advise when it is best to compromise.
Source: Go Banking Rates, “How to Perfectly Plan Your Divorce to Protect Your Assets“, Amanda Garcia, January 08, 2014
Divorce settlement means hard work for John Cleese
Wisconsin residents who follow celebrity divorces may be interested in John Cleese’s divorce settlement with his third wife. In 2008, Mr. Cleese and his wife, Alyce Faye Eichelberger, divorced. The couple agreed to the terms of their divorce settlement in 2009 that allegedly specified that his wife would receive $13 million in marital assets and cash as well as almost $1 million a year until 2016. The 16-year marriage between John Cleese and his wife, who is a psychotherapist, was childless.
Mr. Cleese, who has since remarried a woman 31 years younger than himself in August 2012, spoke about the financial difficulty a divorce may precipitate. Mr. Cleese, 74, said a great deal of hard work was necessary for him to meet the demands of spousal support obligations. He states that his choice of projects is dependent, in part, on earning enough to pay alimony, and he even named one project “The Alimony Tour.” He also suggested that his income from past projects, such as his time with “Monty Python,” was not sufficient to meet these current obligations. Cleese said that selling property was necessary and now owns just one from the original five owned during his marriage.
In Wisconsin, spousal maintenance may be required temporarily or permanently, depending on the differing circumstances of each couple. Determinations regarding such payments include factors such as the length of the marriage, the income of the involved parties and the earning capacity of the parties.
When couples divorce, alimony considerations are just one of many issues that parties may face. As Mr. Cleese’s case shows, the effects of divorce agreements may affect the long-term financial futures of both individuals. A family law attorney may be able to help couples reach an agreement that is equitable and provides support for all the parties involved.
Source: The Huffington Post, “John Cleese’s Alimony Payments Are No Laughing Matter“, January 31, 2014
Rise in disputes over pet ownership in divorces
Wisconsin residents may be interested in an article discussing the rise in a certain type of custody battle during divorces. Attorneys are noticing that couples are fighting over who gets to keep the pets more and more.
In a recent survey of family law attorneys, 27 percent stated that they have seen an increase in the number of couples who are battling over ownership of pets during a divorce. Under the law, courts regard a pet as an item of personal property. In that way, pets are no different than other pieces of property, such as furniture and jewelry. Most often it is a dog that is at issue in the split, comprising 88 percent of animal disputes. The second most frequent animals fought over in divorces are cats, at merely five percent, followed by horses and “other.”
In some cases, ownership of the pet is used as a hardball negotiating tactic during divorce proceedings. Due to the emotional attachment that many owners have to their pets, this makes dealing with pet custody more akin to child custody than property ownership. Upkeep costs are also similar, as pets often have expenses associated with their care. As with child custody issues, it is probably best for couples to deal with who retains ownership of the pet on their own, rather than leaving it up to a judge.
Even though courts are becoming more accepting of pets as assets in property division during divorce, it can be helpful to negotiate an agreement regarding future ownership outside of a judge’s chambers. An attorney who is experienced in a property division issues may be helpful in negotiating a fair custody agreement for pets and other marital assets.
Source: Mainstreet, “Pet Custody Battles on the Rise in Divorce Court”, Juliette Fairley , February 21, 2014
Divorce settlement conditions may be prudent
A recent divorce settlement dispute may be instructive for Wisconsin residents. A father of two emancipated children divorced, and the father’s relationship with the daughter had become strained. She had graduated from Rutgers University and been accepted at Cornell Law School. The father had agreed to a divorce settlement that required him to pay 50 percent of his daughter’s postgraduate education. The cost of Cornell was $74,580 per year for room and board, tuition, books and fees.
The father objected, arguing in court that he should not be obligated to pay citing personal financial difficulties, the availability of less expensive schools, his poor relationship with his daughter and his understanding that the mother had inherited money for the daughter’s education. The trial court disagreed, finding no language in the divorce settlement that supported the father’s argument. The New Jersey Appellate Court upheld the decision.
The courts generally consider a divorce settlement agreement to be contracts that have already been sanctioned by the divorce court. Unless significant changes in circumstances or issues about the legality of the contract itself can be proven, the courts will usually not rewrite or alter the terms of the contract. The settlement wording made no condition upon which the father would pay half the costs. The father was ordered to pay $112,500 as his portion of the Cornell education.
Divorce may become a complicated and emotional process. Arriving at an equitable settlement may be difficult, especially in cases of high-asset divorce or when complex assets such as stock options, business interests or investment vehicles are involved. An attorney experienced in settlement strategies, asset valuation, tax law and property division may help prevent any unexpected negative consequences of a broadly written settlement.
Source: The Huffington Post, “Divorce Settlements and Higher Education“, Brad Reid, March 13, 2014
The impact of social media on Wisconsin family law disputes
Social media has changed the way we interact with our friends, family and acquaintances. Some individuals use venues like Facebook and Twitter to document every aspect of their lives. While staying connected with family and friends is generally a good thing, individuals who are in the middle of a divorce or custody dispute need to be aware that the words and images they post may be used against them in court.
Unfortunately, it’s not just vicious postings and photos of inappropriate behavior that can cause trouble. Even seemingly innocent postings or photos of family activities and vacations can be harmful. For instance, an argument by a spouse that they cannot afford to pay spousal support could be hindered by pictures of luxurious vacations or fancy cars. If one parent criticizes the other parent on social media it may be used to show that they are undermining the other parent’s relationship with the child. It’s not just a spouse’s postings that can cause trouble. If a minor child posts pictures of themselves engaged in a dangerous activity, it could reflect poorly on the parent who was caring for the child at that time.
Deleting these posts and pictures does not ensure that negative information will not surface in a divorce or custody proceeding. In some instances, these deletions can be construed as destroying evidence. The best advice is to consider how the posting or photo could be used by an estranged spouse prior to placing anything online.
Misuse of social media is just one of the many innocent mistakes made by individuals who are in the midst of divorce and custody proceedings. A divorce attorney may be able to help individuals avoid or lessen the impact of seemingly innocuous postings.
Source: The Huffington Post, “The Divorce Mistakes You Don’t Even Know You’re Making“, Taryn Hillin, March 18, 2014
Hidden assets in divorce proceedings
As many Wisconsin residents have discovered, any divorce has the potential to be a complicated affair. That being said, the diversity of possible complications often increases during a high asset divorce simply because of the range of assets these situations often involve. In these cases, one of the primary difficulties a divorcing party may encounter lies simply in the act of forcing a complete disclosure of the other’s assets and liabilities, particularly due to some people’s proclivity for hiding such things about themselves.
According to one divorce mediator from the Institute for Divorce Financial Analysts, complete disclosures are a necessary component in attaining an equitable settlement. Sometimes divorce members try to hide assets using offshore accounts or other such matters, but they can also be something as seemingly benign as a recent loan made to a family member. In addition, many assets can be hard to quantify – consider, for example, the difficulties posed by attempting to designate ownership of a stock that was jointly owned during marriage.
While such issues may seem irrelevant to some, they do not necessarily pertain only to high asset divorces; things like basic 401(k)s and individual retirement accounts can also be on the table in cases where both spouses contributed to their maintenance over time. If a former partner has failed to disclose the extent of his or her asset portfolio, it may do a disservice to the other and prevent them from receiving what is rightfully theirs.
Whether the divorce is high asset or not, someone involved in one who suspects that their spouse has not been entirely forthcoming about their financial situation may wish to have the matter investigated more thoroughly. A divorce attorney may help clients get their fair share of the marital property.
Source: Financial Planning, “Finding Hidden Assets: Digging Deep in HNW Divorce”, Andrew Pavia, March 24, 2014
Political power couple, art collectors’ divorce not so amicable
Wisconsin art aficionados may be familiar with the art-collecting Washington power couple Tony and Heather Podesta, if not for their valuable holdings then perhaps for their lobbying activities. It seems that the couple’s divorce, part of a split announced in 2013 and characterized as amicable, may not be as friendly as they had originally portrayed.
Tony Podesta filed for marital dissolution in April 2014, accusing Heather Podesta of misleading him about their chances for reconciliation when he provided half the down payment on her new mansion in March 2013. At the same time, he says, she had already started a new relationship unbeknownst to him. In addition, he claims that his wife had contacted prestigious museums requesting that they block him from donating art to them. She is also accused of changing the locks on their shared Italian apartment to keep her husband out. The filing claims that Heather Podesta had sought to harass and embarrass her husband in an effort to gain financial leverage over him.
The Podestas were a major power inside the Washington Beltway during the presidency of Bill Clinton. Tony Podesta’s brother was chief of staff for the White House and later served as a counselor to President Barack Obama. Heather Podesta was formerly a Capitol Hill staffer and started her own lobbying firm in 2007.
Power couples may face as many emotional challenges as those less influential when it comes to filing for divorce. Property division, child custody and spousal support are contentious legal issues that many face during the marital dissolution process. However, divorce attorneys can provide guidance so that their clients can keep control of the assets that really matter to them.
Source: The Washington Post, “Tony Podesta divorce filing: wife Heather Podesta tried to ‘embarrass and harass’“, Emily Heil, April 03, 2014
Divorce may have outsize impact on couples’ tax status, liability
Wisconsin couples both married and unmarried may know that marital status has an effect on the taxes they have to pay. A wedding means it’s time for a change in their tax situation, but so does a divorce. Filing status may be the first change that comes to mind when thinking about how life events affect one’s tax burden, but sharing expenses and income as a married couple can have a large impact at tax time.
Financial planning experts frequently offer tips to taxpayers trying to figure out their new obligations to the Internal Revenue Service. They suggest what some may already know: Filing status is important for figuring one’s tax burden, possible exemptions and credits such as the one for earned income. Whatever a taxpayer’s marital status is at 11:59 p.m. on Dec. 31 of the year for which the return is being filed is that person’s status for the entire year. Until a divorce is final, each spouse still falls into the “married” column.
Being married or single isn’t the only filing status; should a household include a qualifying dependent, a single person can file as the “head of household.” When it comes to married couples, choosing to file a joint return means that each spouse shares equally in any tax liability imposed by the IRS. Married people can choose to file as “married filing separately” to avoid this commingling, but doing so may take away eligibility for certain credits as well as expose each spouse to higher tax rates.
Filing for divorce is just the first official step in dissolving a marriage. Important divorce legal issues such as property division, alimony and child support may still need resolution. Family law attorneys may be able to help divorcing spouses access resources that could contribute to an outcome agreeable to all parties as well as represent divorcing spouses in court proceedings as needed.
Source: Yuma News Now, “How Marriage And Divorce Can Impact Your Taxes”, April 05, 2014
Pets a new bargaining chip in divorce
Children are not the only possible bargaining chip in a Wisconsin divorce. Sometimes, pets also become a pawn in the game of deciding who keeps what assets after a couple dissolves their marriage.
After all, most people become emotionally attached to their dogs, cats or other animal companions. In fact, a soon-to-be ex-husband or ex-wife might use the pet as a tool for extortion. For instance, he or she might try to fight for a furry friend they may not even want. Sometimes, they do this just so a spouse gives up some other valuable item, but how does this happen?
Well, spouses often negotiate possession of pets the same way they discuss ownership of a table, chairs, sofas, beds, coins or other objects. After all, the law usually considers animals pieces of personal property. Unlike in child custody cases, where the law requires that the best interests of the child be considered, the best interests of the pet may be ignored.
In most cases, the court probably would rule in favor of the original pet owner. However, the person who takes care of the animal and brings it to the vet for checkups might have some say in the matter. Otherwise, placement of the pet might depend on where the kids will live.
Another factor to consider is lifestyle. For instance, a person who travels all the time for business may have time for a dog, cat or other pet. Likewise, anyone who frequently reports to work on a moment’s notice might also not have the time to feed, groom or wash an animal. Therefore, the court may rule in favor of another person who stays home and has a more predictable work schedule.
Source: Forbes, “How Are Pets Handled In Divorce?“, Jeff Landers, April 17, 2014