After a termination of the marriage of a man and woman, the newly divorced man or woman often fails to consider reviewing and updating his or her estate planning documents a top priority. In the past, this sometimes resulted in unfortunate and unintended consequences. It is long-standing statutory law in the State of Ohio that if after executing a will, the individual executing the will is divorced, obtains a dissolution, has a marriage annulled or obtains a legal separation, any conveyance of property in the will to the former spouse or to a trust available to the former spouse or any nomination of the former spouse as executor, trustee, or guardian is revoked, unless the will expressly provides otherwise. However, until recently, Ohio statutory law did not address the effect of the termination of a marriage on previously executed designations of the ex-spouse as power of attorney, trust beneficiary, death beneficiary or joint property owner.… View Full Article → “Estate Planning After Divorce, Statutory Protections Against The Ex-Spouse”
Factors The Court Considers In Determining Whether To Award Spousal Support Pt. 2
Attorney Anne Shale adds 10 more factors to consider in Part 2 of “Factors The Court Considers In Determining Whether Or Not To Award Spousal Support”.
[e]:
The duration of the marriage. The longer the duration of the marriage, the longer the potential spousal support obligation is likely to be. For example, if the marriage of the parties exceeds thirty (30) years in duration, the Court is likely to attempt to “equalize” the earnings or incomes of the parties. And, if the parties have been married just one to two years in duration, the Court is likely not to award any amount of spousal support. While I have represented Husbands who say they have tried to keep the “marriage together” for the sake of the children, this goal often comes back to haunt them when their Wives are awarded a lengthy duration of spousal support. In Montgomery County, Ohio, there is a very “general” and “unwritten” rule that spousal support may be awarded for up to one-third (1/3) of the duration of the marriage.… View Full Article → “Factors The Court Considers In Determining Whether To Award Spousal Support Pt. 2”
Factors The Court Considers In Determining Whether To Award Spousal Support Pt. 1
When discussing whether or not a Court will award spousal support, formerly known as alimony, to one of the parties in a divorce proceeding, we must first define what spousal support is. Section 3105.18 of the Ohio Revised Code defines “spousal support” as being “any payment or payments to be made to a spouse or former spouse, or to a third party for the benefit of a spouse or former spouse, that is both for sustenance (maintenance or means of livelihood) and for support of the spouse or former spouse.”
Webster’s New World Dictionary does not define “spousal support” but defines “alimony” as “money a court orders paid to a person by that person’s legally separated or divorced spouse”. While the Ohio Revised Code utilizes the term “spousal support” in Chapter 31 relative to Divorce, Annulment, and Dissolution of Marriage, the Internal Revenue Code governing the payment of federal income taxes continues to use the term “alimony” in lieu of the term “spousal support”.… View Full Article → “Factors The Court Considers In Determining Whether To Award Spousal Support Pt. 1”
Need Free Legal Help to Avoid Foreclosure?
If you are behind on your mortgage payments and facing possible foreclosure on your home, there is an excellent program that the Ohio Attorney General’s office has instituted. The new program is called “Save the Dream”. You can call their hotline for help at 888-404-4764. Hundreds of lawyers statewide have volunteered to provide free legal services for Ohioans to help them avoid foreclosure actions. Be smart and avoid all those predatory lending “quick fix” offers that you see advertised on television or receive in the mail. They will only put you in further trouble!
Robert "Chip" MuesAttorney Robert “Chip” Mues has been focusing his legal practice throughout Southwest Ohio primarily in divorce and family law matters since 1978. Chip is passionate about family law and has proudly published the Ohio Family Law Blog since 2007. In addition, he previously managed the Dayton law firm of Holzfaster, Cecil, McKnight & Mues LPA until it dissolved on December 31, 2024.… View Full Article → “Need Free Legal Help to Avoid Foreclosure?”
I Want to Keep the House, But Should I?
This is one of the questions I am asked all of the time. Of course, the correct answer is “It depends.” The home often accounts for a large percentage of the entire marital estate. Whether to retain the home after a divorce is often a very emotional issue, especially if there are children involved. It is natural that parents want to maintain as much stability for their kids as possible when going through a break up. One would assume that keeping the kids in the marital residence after the divorce is important. But interestingly, the psychological studies show that divorced children are not really affected by the retention of the marital home. The key factor is the stability of their parents, not what house they live in.
It is important to realize that unlike spousal and child support, property division terms cannot by law be changed after the divorce is completed.… View Full Article → “I Want to Keep the House, But Should I?”
Antenuptial Agreements, An Effective Estate Planning Tool
Antenuptial agreements, also often referred to as prenuptial agreements, are sometimes derided as taking the romance out of marriage and transforming the event and institution into a business arrangement. Some claim that the use of an antenuptial agreement is an acknowledgement that a marriage is likely to fail. However, an antenuptial agreement addresses not only the possibility of divorce, but also the distribution of premarital assets upon the death of one of the spouses. These agreements can be an excellent tool when there is a significant difference in the ages of the parties or in their respective wealth. In situations in which one or both of the parties has/have previously been married and want(s) to preserve assets for his or her children upon death, an antenuptial agreement may be an essential component of a sound estate plan.
There are several basic elements of a valid antenuptial agreement. The agreement must be entered into in writing and signed by both parties in contemplation of an upcoming marriage.… View Full Article → “Antenuptial Agreements, An Effective Estate Planning Tool”
Avoid Headache, Safeguard Your Assets
Jeffrey Lalloway, publisher of the California Divorce and Family Law Blog, wrote this excellent article. I couldn’t agree more with his suggestions!
Lessen impact of divorce on credit
If you’re planning to file for divorce this year or are already splitting your assets with your soon-to-be ex-spouse, your credit is likely to take a hit.
Many people don’t realize that lenders do not honor court decrees that assign payment responsibilities for joint loans. The mistaken assumption that you’re off the hook for financial obligations can result in a series of missed payments that may trash your credit score for years.
This needn’t happen if you safeguard your credit before you file for divorce. Consider these tips from John Ulzheimer, author of “You’re Nothing but a Number” and an expert at Credit.com, a consumer personal finance site.
If you have joint accounts with your spouse, do your best to turn them into individual accounts so that it will be easier for the divorce court to split up your financial responsibilities.… View Full Article → “Avoid Headache, Safeguard Your Assets”