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.
Massachusetts Child Support Guidelines are changing quicker than David Bowie used to transform into Ziggy Stardust. Starting in September, 2017, there will be massive changes to how child support is calculated. There are a lot of changes in store, but some of the highlights that will be most interesting to our clients:
A blanket 25% reduction in support obligations for children between the ages of 18-23;
A presumptive cap on college contributions, for each parent, at 50% of the cost of attending UMass Amherst (aka “The UMass Formula”);
Removal of modified support based on parenting time; and
Acceptance of unreported income, thereby making it easier to “impute” income.
Like all new rules and guidelines, it will take a while to determine how some of the more detailed changes actually get applied in real cases. Please email or call us if we can help you to better understand how the guideline changes might apply to your specific situation.
A helpful link from the Commonwealth of Massachusetts:
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?
The perspectives of judges regarding marijuana use by a parent has been easing over the last 10 years as decriminalization and medical use have become our norm. With recent changes, some have asked us how it will effect custody and visitation. From a recent news blast from the Bristol Probate and Family Court:
Section 7 (d) of the Marijuana Tax Act addresses personal use of marijuana and its effect on child custody proceedings and provides:
Absent clear, convincing and articulable evidence that the person’s actions related to marijuana have created an unreasonable danger to the safety of a minor child, neither the presence of cannabinoid components or metabolites in a person’s bodily fluids nor conduct permitted under this chapter related to the possession, consumption, transfer, cultivation, manufacture or sale of marijuana, marijuana products or marijuana accessories by a person charged with the well-being of a child shall form the sole or primary basis for substantiation, service plans, removal or termination or for denial of custody, visitation or any other parental right or responsibility.
Section 7 (d) of Chapter 94G follows established case law regarding the use of marijuana and child custody proceedings. There needs to be clear and convincing evidence of a nexus between a parent’s drug use and the parent’s ability to parent a child in order for the parent to be found unfit and parental rights terminated.
For more information, please check out our website www.wjslegal.com or call us at (508)319-1529.
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There are some days on the calendar that we all recognize as holidays (even if we don’t celebrate them): December 25th, October 31st and July 4th; however, there many obscure “National Days” of which you are probably not aware. For instance, did you know that May 19th in National Devil’s Food Cake Day or that August 5th is National Underwear day? Chances are good that you have no idea that the first Monday after New Year’s, when everyone returns to work, is considered by many people to be National Divorce Day.
Divorce Day has become a “thing” over the last couple of decades. Nobody is truly sure what it is about that date that makes it such an attractive time to call an attorney to start the divorce process. It could be seasonal depression, conflict over the holidays, or just wanting to follow a different path in the new year. While nobody gets married hoping that their marriage ends in divorce, it is, unfortunately, a reality for approximately half of the population in any given year.
Divorce is not always terrible ending. We always tell people that divorce is a legal transaction that involves a “math problem, (aka figuring out who gets what)” and making sure that the children are in the best environment possible; when parties can focus on those two things, not the emotion and drama, everyone is happier.
Some of our favorite cases are divorces because it can bring out the best in people. We see people work together, focus on their children, and follow the path towards an alternative happy ending. One of our favorite moments ever occurred right after one couple had their Separation Agreement approved by the judge as they hugged and walked out arm in arm. We often see parents make plans to take their children out for dinner together the night that they are divorced to remind their children that they are still a family. While this is not necessarily the norm, it is certainly the ideal.
What else is ideal? Celebrating April 14th as National Ex-Spouse Day.
Whatever winter holidays you chose to celebrate, we wish you a very happy holiday season. As always, please visit our website www.wjslegal.com or call us at (508)319-1529 for more information.
Disclaimer: The material contained in this website does not constitute legal advice or a legal opinion as to any particular matter. Nor is it intended to create an attorney-client, business or professional relationship. You should not rely on the information contained in this website without first speaking with an attorney. No claims, promises or guarantees about the accuracy, completeness, or adequacy of the information contained in or linked to this website are made. This material may be considered advertising under the rules of the Supreme Judicial Court of Massachusetts.