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Providence Divorce Law Blog

Protecting inheritances and gifts during RI property division

When married couples in Rhode Island consider their major assets and property, they should be able to establish the ownership of it. During dissolution, this task is rather daunting, and the complexity of property division could lead to a very complicated and lengthy divorce. While the divorcing couple battles over whether an asset is considered marital property or separate property, they could lose focus on other details of the divorce process. This is why it is important that each spouse takes the time to get a full financial picture of their marriage, so they can reach a fair and timely divorce settlement.

During dissolution, it is not only important to establish who needs what property or asset, but it is also crucial to establish what rightfully belongs to each spouse. With regards to gifts and inheritances, it is important to determine whether these items are in fact separate property and will remain with the spouse they were given.

What is the best interest test in a RI child custody case?

When parents in Rhode Island deal with marital problems, they often face several challenging decisions. For some, this might mean deciding whether or not to stay together. Filing for divorce could be one of the most difficult choices to make. It not only means the end of their marriage, but also means changing the dynamics of their relationship with their child or children. When determining a child custody arrangement, parents should understand how to keep the focus on the child and their needs during the process.

Divorcing parents often hear about the best interest of the child test, but they are unsure how it could be used to benefit everyone involved in a child custody arrangement. Using the best interests test means that all decisions and agreements are based on the ultimate goal of encouraging the happiness, security, mental health and emotional wellbeing of the child. Determining how best to promote and maintain these goals might be challenging and could lead to several disputes among the divorcing or divorced parents.

The importance of reporting alimony in tax returns

The end of a marriage means many changes. For some divorcing couples in Rhode Island, dealing with finances post-divorce can be challenging. In some instances, a spouse was very reliant on the income of their ex-spouse. After dissolution, they are still relying on their spouse for financial support to maintain the same lifestyle that they had during the marriage. In order to continue their standard of living, spouses will often request alimony in the divorce process.

While receiving spousal support is essential for some divorced spouses, a recent report discussed the reasons why there are discrepancies between the amounts reported on tax returns by the payers and the recipients of alimony. For many, it is tough to comprehend how the same amount is not written down, but nearly half of the corresponding returns did not match in a report of the 2010 returns. Out of the 266,190 unmatched returns, further examination commenced on 10,870 cases. This eventually led to even further investigation of around 2,000 cases.

Dealing with a child support arrangement in Rhode Island

There are many financial decisions to make during a marriage as well as at the end of the couple's union. When children are involved, understanding their needs will help establish how much child support is required. While a child support arrangement designates how much money is owed each month to the custodial parent, certain events could require modification or adjustments to the payment plan. Understanding when this can occur could help parents handle any current or future issues involving child support.

When divorcing parents in Rhode Island reach a divorce settlement, this means that all their divorce issues are finalized, including decisions regarding child custody and visitation. The details of the custody or visitation agreement will often impact any arrangements regarding child support. To initiate and enroll in the Child Support Services computer system in the state, Rhode Island parents must pay a twenty-dollar fee. Once this occurs, then all of their child support issues will be handled through the website.

Child support and the growing school costs for children

It is not uncommon for individuals in Rhode Island to require time to adjust and acclimate after a major life event or change. When it comes to divorce, it might take time for the newly single spouses to adjust to their new life without their partner. Furthermore, if the divorced couple has children, there is often a constant struggle to become comfortable with a new schedule and budget. Whether it is in the beginning stages of dissolution or years after the divorce settlement, parents often have to deal with issues concerning custody and child support.

With the start of the new school year approaching, parents often think about what their child or children will need at school. In addition to the regular school supplies and new wardrobe, after school programs and extracurricular activities often fill up their child's schedule. This does not only create issues for custody, visitation and driving arrangements but it could also bring up financial issues.

Duchovny and Leoni officially divorce after 3 year split

Married couples in Rhode Island know very well that all relationships have their ups and downs. For some, when the negativity outweighs the positive, or the disputes are much too frequent, ending the marriage might be the next best step. A high asset divorce is often a lengthy and complex situation, but if the couple is able to properly address all the divorce issues, they can amicably reach a divorce settlement.

Famous actor David Duchovny filed for divorce from his estranged wife Tea Leoni. The couple married in 1997 and dealt with their first split in 2008. The two reconciled shortly after but split for a second time in 2011.

Avoid costly property division mistakes in a gray divorce

As couples grow old, there are always things to consider regarding their finances. It is common for aging spouses to make decisions regarding retirement and other investments. Although the couple is reaching retirement age and might have been married for a few decades, marital issues can still occur. When older couples divorce in Rhode Island and other states across the nation, it is important to address all necessary marital assets and accounts to avoid complications during the process and post-divorce.

Divorce is becoming more prevalent among older couples and there are many precautions spouses should take in these late in life divorces. First, they should establish whether the house should remain with one of the spouses. Even if one is awarded the home, they should understand whether it is practical to keep it because it could be a money pit and put them through financial strife.

Considering co-parenting for the best interests of the child

Being a parent is a very rewarding part of life. Although it is a positive experience, parents in Rhode Island understand how some challenges can present difficulties, especially when dealing with child custody issues. Divorce could constrain a parent's time with a child, but this should not interfere with the quality of time they spend with them. When devising a proper child custody arrangement, considering the best interests of the child will help formulate an agreement that will benefit everyone involved.

If parents are able to set aside their differences post-divorce, a co-parenting arrangement might suit them best. The success of this arrangement is often based on their ability to keep communication channels open. Doing so not only allows them to negotiate an agreement regarding parenting time, but would also create a good foundation for discussing future events.

Increase in bread-winning women considering prenuptials

When couples in Rhode Island decide to tie the knot, it is very common that the soon-to-be spouses understand the finances and liabilities of each other. Moreover, it is not unheard of that one spouse's makes a significant amount more than the other. In order to ensure that their financial health is not harmed, many marrying or married couples will include a legal document that will designate how the marital property and assets will be treated in the event of a divorce. A prenuptial agreement or a postnuptial agreement could be very valuable tools used to protect assets.

Nowadays, it is becoming more and more likely that women are the bread-winning spouse. A recent report noted that 44 percent of married women are the primary breadwinners. With that information, it is also apparent that women need to consider their finances when getting married. When the soon to be spouse is less educated or underemployed, females need to take the same steps and precautions to protect their assets.

Getting a full financial picture during a divorce

Finances are often attributed to the ups and downs in marriage. For those ending a marriage, sorting through marital assets and finances are a major step in the process. Divorcing couples in Rhode Island, and in states across the nation, cannot avoid the property division process. Although some spouses might be able to reach an agreement easily, others find this portion of the process much more difficult. Disputes might arise and ex-spouses might not see eye-to-eye when it comes to distribution. Furthermore, if spouses are not fully aware of the couple's financial situation, the divorce process might be prolonged while they familiarize themselves with their finances.

The property division phase during dissolution could lead to short-term and long-term financial consequences. While these results are not always negative, when spouses or couples are not fully aware of their financial situation, they could make major mistakes in the divorce process. Moreover, the property division process should not being taken lightly or overlooked. Even when a divorcing couple does not own much, how they evaluate their property and assets could affect them in the long run.

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