You and your spouse have worked hard to build a comfortable life. You have investments, properties and loving children. You still remember the day that you got married. It was a gorgeous day full of emotions and hope. Now, the two of you have come to a point in your lives where things just aren't working. You are going to file for divorce.
Assets you might forget to add to your list
What should you do if your child faces drug charges?
Sadly, teens and young adults are one of the prime age groups for drug use. They suffer from several factors working against them, such as peer pressure and the nature of their still-developing brain. Many teens will encounter drugs for the first time within their friend group or at college.
If you have a teen or college student, there's a chance that you could one day receive a frightening call. Your child may be in jail awaiting a trial for a drug crime. How you respond to this situation can make a difference for your child's future.
Gray divorce can come with financial pitfalls
Divorce can come at any time in life. Some couples divorce in their 20s or 30s. Others divorce in their 50s. When a couple gets divorced after age 50, it is popularly called a gray divorce. In the past several years, the incidence of gray divorce has rocketed. As its rate climbs, many people are realizing that it can some with some serious financial pitfalls.
Divorce nearly always takes a major toll on a couple's finances. This is true of divorce at every age, but gray divorce can be particularly damaging. It is important for anyone who is going through a gray divorce to be aware of the financial pitfalls and to prepare accordingly.
Picture Books For Skip-Generation Families
Children are constantly learning, growing and making comparisons. Children are eager and like to question everything around them in order to learn and understand. As kids interact with their peers, they often get a glimpse into different cultures, lifestyles and issues. Grasping that families and traditions are diverse can make children curious.
Children of uniquely composed families will probably have questions. Children raised by their grandparents may wonder why their family is different from other families, want to understand how other families work and compare themselves to more traditionally composed families. One way to help put children at ease is to share in a loving activity that every child can relate to no matter what-story time.
Modifying your child support payment amount may be possible
A judge determines how much a parent should pay in child support following divorce based on a number of factors. These include the parent's earning potential, current income and housing situation. The court also looks at the particular financial needs of the children.
However, situations can change unexpectedly for many parents making child support payments here in Minnesota. For instance, you may lose your job without warning. For this reason, if you are making child support payments but now find yourself in a situation that will prevent you from continuing to do so at the current amount, modifying your child support payment amount may be an option.
Divorce and predictability do not go hand in hand
If you are thinking about getting divorced, you may naturally feel uneasy about what is to come. After all, divorce scenes on TV do not always present it in the best light.
Admittedly, divorce and predictability do not go hand in hand. However, being as prepared as possible may help you to navigate it more easily. Here is a look at what you can and cannot expect from a divorce from a financial standpoint.
Late-in-life divorce doesn't have to wreck retirement
It is never too late in life to make a change for the better, and for some, this means ending an unhappy marriage. Increasingly, Minnesota couples are pursuing divorce later and later in life as they seek to make their remaining decades the happiest they can be.
While divorce virtually always has certain financial implications, these are often more profound if you are age 50 or older. This is especially true when it comes to retirement savings, which you will have to split up during asset division.
Alimony may make transition to post-life divorce easier
Going through the divorce process can understandably be challenging from both a financial and an emotional standpoint. This is particularly true if your soon-to-be ex was the primary or sole breadwinner in your household during your marriage.
Fortunately, you may be able to take advantage of spousal support, also known as alimony, in Minnesota. You and your spouse may be able to come to an agreement about how much alimony you will receive. Otherwise, you can take the matter to court to resolve it.
A DUI conviction is not easy to shed
There are many ways in which a night of fun can end badly, especially if alcohol is involved. Alcohol tends to heighten people's emotions and lower their inhibitions, causing them to do things they might not do sober. For instance, you have probably been at bars or parties where people behave inappropriately or start fights after too much alcohol.
One common action people do after drinking is to get behind the wheel of a car. Without the influence of alcohol, you certainly know when you are unable to drive. You also know when to avoid dangerous situations. However, after a few drinks, you may not be thinking clearly, and this could lead to unimaginable problems.
Arbitration may help to avoid an arbitrary divorce process
The idea of going through the divorce process with your soon-to-be-ex may understandably be overwhelming, as you essentially have to figure out how to separate your intertwined finances and emotions. Having to go to trial to achieve this may only add stress to the situation since divorce litigation is hardly amicable.
Rather than going the trial route in Minnesota, you and your spouse may choose to take advantage of an alternative dispute resolution known as arbitration. This process is vastly different from the other alternative dispute resolution processes of mediation and collaboration.
