Richard C. Bardi & Associates LLC

Boston Family Law Blog

Set terms for company roles after you divorce your co-owner

Divorcing is a complex undertaking when there are assets in question. When one of those assets is a business, you have to think carefully about what is going to happen with the company. One of the options that you have is to continue things as they are going now – with both you and your soon-to-be ex running the company. This is usually only possible if you can work as a team.

We know that you might wonder if this can truly work. In most cases, it can work just fine as long as both parties carefully consider the arrangement. You have to move toward a business-like arrangement instead of having a personal one.

Educational and extracurricular aspects of parenting plans

Co-parenting your children in a post-divorce world does not have to be a nightmare. With a comprehensive parenting plan, you proactively address many parental issues. What constitutes a good parenting plan, of course, depends on your situation. If you have children in school, though, you likely want to address both education and extracurricular activities in your agreement. 

Parents regularly focus on custody, visitation, medical care and religious practices when drafting parenting plans. Modern parenting plans, though, are often significantly more robust. If you forget to include educational and extracurricular aspects when writing your agreement, you may be asking for trouble. Here are four subjects you may want to address: 

Extraordinary medical costs: A consideration for divorced parents

While many people think about the regularly recurring payments from one parent to the other when they think about child support, this isn't the only thing that these orders cover. The court will usually set the standard for which parent needs to include the child on their health insurance coverage. Another consideration is who will pay the extraordinary medical expenses for the child.

The out-of-pocket medical costs that you have to handle for the child depend largely on the type of insurance the child has. These include things like co-pays, deductibles and uninsured health expenses. There has to be a set standard for who will pay those.

Set the standard for parenting in your home

Children are usually pretty flexible, so you have to remember that when you are trying to set the parenting plan after your divorce. But just because they are flexible doesn't mean that they won't have problems adjusting to the divorce. Your job as their parent is to make sure that they have the support and tools to live their best life now.

When you think about the child custody agreement, make sure that the child has time with both parents. Take the time to let them know that building a relationship with both parents is important. There are only a few situations, such as if a parent is abusive, that this isn't appropriate.

3 tips for coming up with a suitable parenting plan for your kids

The process of determining what type of child custody arrangement will work for your children can be complicated. There are several things that you can do that might help to facilitate a respectful and productive negotiation process for all matters related to the children.

Remember that you have to put the children's needs first. It doesn't matter what is easiest for you or hardest for your ex. When you make up your mind that you are going to focus solely on the children, you may realize that many factors simply fall into place because it is obvious that what will be best for the kids.

Changes to alimony in 2019

Getting a divorce is always complex enough, but changes to the laws make it even more challenging. If you are ending your marriage in 2019 (or later), you are subject to new changes to alimony payments. The former rules regarding spousal support are now completely different. 

The new alimony law may make your divorce more costly and complicated. Here is an explanation of the changes and how you can manage your divorce moving forward.

Prenuptial agreements should protect both parties

Getting married is a big event in your life. You have to ensure that you are marrying the right person and that you have protections in place if anything goes awry. One thing that you can do is to sign a prenuptial agreement with your future spouse. This sets the terms for what will happen if the marriage dissolves. We will help you evaluate the possibilities so that you can determine what you feel is best for your current situation.

Some people think there is a certain "ick factor" present when you ask for a prenup. The fact is this is a document that can protect both parties, so it is in everyone's best interests to consider signing on. We can work with you to make sure that there are protections for both parties in the document.

Provide your children with support in school during your divorce

Telling your children that their parents are divorcing isn't going to be easy. You have to ensure that you are explaining it in a way that they can understand. But the work that you have to do doesn't end there. You also have to figure out how to help the children thrive after the separation.

Children who are in school will face specific challenges when they return. There are some ways that you might be able to help them adjust so that it doesn't impact their schooling.

Make priorities for running your joint business after divorce

Divorcing when you have a business requires equal parts finesse and diplomacy. Some couples choose to continue to run the business as a team even after the divorce. If this is what you are planning on doing, make sure that you are well prepared for what is to come.

There are three main priorities that you have to consider in these cases.

  • Who will handle which business components? You and your ex each need to have clear roles for running the business. Deciding this now can reduce the likelihood of problems in the future.
  • How will both people be paid? Decide how profits will be split, as well as which expenses each party is responsible for.
  • What happens when conflicts arise? There are bound to be disagreements when you and your ex work together. Setting up the terms for conflict resolution from the start of the agreement gives you a blueprint for resolution.

A prenup provides protections to both spouses

Asking the person to who you are engaged for a prenuptial agreement might seem like a less-than-desirable thing to do. This misconception might mean that you are missing out on an important protection for both you and your betrothed.

Prenuptial agreements can't be one-sided, so you shouldn't assume that you will seem selfish when you ask for one. Instead, these agreements must be balanced. If they are ever brought before the court, it is possible for them to be thrown out if they favor one party over the other.

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