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You might be surprised how many people go through a massive life overhaul all at once. They are in the middle of getting divorced, potentially moving into a new home and then WHAM, they quit their job or get fired. This happens ALL-THE-TIME but why?

For some people, they are trying to reinvent themselves for a multitude of reasons;
For others, they are trying to manipulate child support or alimony obligations (we don’t recommend this); or
They get fired.

Divorce can be an emotional roller coaster regardless of whether you wanted it to happen and how amicable the situation has been. The stress can have a massive effect on your body and mind, often leaving people distracted or absent minded. What can you do to help yourself before your divorce becomes an issue at work?

1. Communicate with your boss or human resources department to let them know what is happening. Not only will they potentially need to be involved with providing insurance coverage information, but they are more likely to be supportive and understanding if they they are aware of the situation and if you have reassured them that you will still get all of your work done in a timely manner;

2. Do not make a grandiose announcement or talk about your divorce at work, but if you do, only talk with a select group of close work friends and keep it to a minimum, especially during work hours;

3. Handle personal and divorce matters outside of work hours. Occasionally, you may need to respond to an email or call, but be mindful of your volume and content if you do so;

4. Do not use your work email for communication with your attorney. Some companies monitor their employees’ email and it will not benefit you for your company to know your personal business;

5. When you need to miss work to attend a divorce related meeting or appearance, inform your employer as soon as possible;

6. Put in the extra time at work if needed. If you are an hourly employee, don’t request over time pay if the extra time is needed to finish things that you would have normally finished but for the divorce;

7. If and WHEN you feel stressed or anxious, take a few minutes to refocus by getting some water or going for a quick walk;

8. Keep your emotions under control. We can assure you that if you get fired for poor performance or yelling at your boss, your spouse’s attorney will find out and will use it against you;

9. Get more involved with group projects if you can. Not only will it force you to be more accountable and keep you on schedule, but it will also give you an excuse to interact with others.

As always, please let us know if you have any questions about this or any other legal matters.

Regards,
John & Faye

While driving through the Baltimore/ Washington D.C. area, there was a billboard that said, “Don’t get a divorce…get a bigger house.” Four days later, the advertisement is stuck in my head.

Although we are all for buying the house of your dreams, it will not save your marriage. What really happens to your house in a divorce?

1. The marital home is the most sought asset during a divorce. At the beginning of the divorce process, everyone wants to keep the marital home; however, it is rare that that both parties can afford to keep the home on their one income, often determining who could actually keep the house;
2. One spouse keeps the house. If one of the parties can afford to keep the home, they should refinance under their own name and based on their individual income. At the time of refinance, the ownership is often transferred by Quitclaim Deed;
3..Get your name off the mortgage if you don’t own the house. If you have signed a Quitclaim Deed to relinquish ownership rights, make sure that you don’t have any financial responsibility for the mortgage or taxes. We recommend this for both security (in case your ex doesn’t pay the mortgage for any reason) and because any financial obligations will limit your ability to secure your own credit for a future rental or purchase;
4. Sell the house. This can be done either before or after the divorce occurs, but it’s easier if the parties agree how the proceeds will be divided before the house is put on the market;
5. It gets more complicated when the mortgage exceeds the value of the home. Couples that cannot afford to pay the overage due usually have to choose a short sale, renting the home or continuing to live together;
5. Buying a house during the divorce process isn’t always a great idea. The home will be considered a marital asset and subject to division. Also, mortgage underwriters may be a bit concerned about your future income and assets, which could cause delays.

As always, please let us know if we can assist you with any concerns or legal matters.

Warm Regards,
John & Faye

We are going on a limb with this one: Tom Brady and Gisele Bundchen likely have a prenuptial agreement. We haven’t seen it, but hopefully, he made provisions for him to retain all of his Super Bowl rings and his MVP trophies if their marriage ends.

 

If at the time of the marriage, Brady disclosed that he owns three Super Bowl rings and a couple of trophies, but didn’t make provisions for the future? In that case, his wife may have a claim for rings and trophies for the fourth and fifth as marital assets. OUCH (especially for number five).

 

We love prenuptials for average couples because they create an opportunity for them to have uncomfortable conversations about their priorities and financial future. Have you been married before? Do you have children? Do you have some savings or a home? If the answer to any of those questions is “yes,” then a prenuptial is an important legal protection for you.

 

Protections typically include division of property, alimony, debt, life insurance, health insurance, and what financial support children from a prior relationship might get during the marriage or when the parent dies. In order for a prenuptial to be valid, the following conditions must be met:

  •          Both parties must make full disclosure of all assets and liabilities;
  •          The agreement must be fair and reasonable at the time entered into by the parties;
  •          Both parties must be represented by counsel;
  •          Both parties must sign the document prior to the wedding;
  •          Both parties must sign the document of their own free will;
  •          Both parties must have the capacity or ability to sign the document; and
  •          The agreement must also be fair and reasonable at the time of divorce.

 

Given the second look at the time of divorce, it would be unlikely that our GOAT would lose his fourth and fifth rings if they were not protected in a prenuptial. That would just be unfair and unreasonable, wouldn’t it?

 

On to SIX!