Richard C. Bardi & Associates LLC

Boston Family Law Blog

Set up a plan for business success after divorce

Family-owned businesses can often suffer when the couple running them has to go through a divorce. While it isn't very common, it is sometimes possible for the exes to continue to work together to run the business. This can be a challenge, but it can also be very rewarding.

If you are going to try to continue to oversee the business together, you will have to ensure that you are taking steps to protect the business and keep things in order. Here are some tips you might find helpful:

  • Mutual trust and respect are imperative. You have to know that your ex is going to always do what is best for the business. Employees and customers shouldn't have to deal with you and your ex demeaning each other.
  • Realize that you need your ex's skills. Chances are that you have each carved out an area of the business that is your own. You and your ex probably have unique skillsets. Continuing to run the business together allows the company to benefit from this.
  • Set boundaries for interactions. This must include what will happen if you or your ex has a new significant other. It can also include boundaries about who will be responsible for specific aspects of the business, as well as what decisions must be made together.
  • Plan for disputes. You might need to have a neutral third party on standby to help resolve conflicts when they arise. This person should know your company and be familiar with the ins and outs of it, so they can help you make decisions in the best interests of the company.

Child custody exchanges should be easy on the children

When your children move from your home to your ex's or back again, things can be stressful. Every custody exchange can be a big adjustment for them, and they are counting on you to help them through it.

Here are several ways that you can take the stress out of transitions:

Know how you will handle child care arrangements on school breaks

Child custody can be a challenge during the school holidays. You have to figure out when you are going to have the children so you know when you'll need to plan for child care. While many people automatically think of the long breaks, such as summer and winter holiday breaks, the short ones and even half days are just as challenging. We know that you might not feel prepared, but it is an important consideration, especially if your children are younger.

The parenting plan schedule you have is your first stop when you are trying to make these plans. If you and your ex live close to each other, you need to decide whether you are going to use the same child care provider. While using the same provider is easier on the child since they don't have to adjust to new people or places, it can be a challenge for you and your ex.

3 things to know about relocation with children after divorce

Divorce and child custody agreements are difficult to muddle through. When it comes to deciding issues such as custody, visitation, co-parenting plans and the like, even the most amicable parties can become emotional. An issue that may plague custody agreements is relocation out of the state by the parent with primary custody. In those instances, Massachusetts is not the first home of the person seeking to move. Relocating would allow the person to perhaps gain better access to jobs or personal support networks, such as extended family and friends.

When considering asking for an out-of-state relocation or opposing one, there are some things you need to know.

Child support payments require careful planning

Parents who are divorced need to budget for those payments. It doesn't matter which side of the matter you are on. If you are making those payments, you must ensure that the money is available. If you are the recipient, you should set your budget to use them as a windfall just in case they are late.

For the paying parent, there is a chance that the support payments will come directly out of your paycheck. While this might seem like a no-brainer option, you should think about how you will be able to determine your income to reflect the payments. This is fairly easy if your payments are a set amount for each check; however, if they are percentage-based, it might not be so easy.

Premarital agreements set the financial foundation for marriage

One of the best things that you can do when you are planning your wedding is to discuss a prenuptial agreement with your future spouse. Many people tend to think of prenups as a negative component of the engagement and marriage. But there isn't anything negative about wanting to protect yourself and the other person.

Some people don't realize that a prenuptial agreement offers protections for both sides. They can't be one-sided or overly favor one spouse. Instead, they have to be fair to both parties. We can help you to come up with a prenuptial agreement that meets the legal requirements for this.

Some people try to hide business income during a divorce

Owning a successful business is a great way to support your family. In most cases, the business is beneficial to your marriage. This might change if the marriage is in trouble and heading toward divorce. If your soon-to-be ex handles the finances for the company, you need to pay close attention to what is going on.

Sometimes, the issue that comes up is that one spouse tries to hide income or business assets from the other. This is known as sudden income deficit syndrome, or SIDS. Unfortunately, it might not be easy to spot if you aren't involved in the daily running of the business.

Personal injury matters sometimes require legal action

Many types of legal matters are handled in civil court. One type is a personal injury claim. When you are injured due to the negligence of another person or entity, you can opt to file a lawsuit that seeks compensation for damages. This can help you work toward ensuring that you aren't the person who is financially responsible for the effects of the accident.

There are a few types of accidents that might lead to you file this type of claim. These may involve a car or semitruck wreck, pedestrian accident, premises liability case, product liability situation or medical malpractice. If you suffer a severe injury as the result of the negligence of another person, you should learn what options you have for seeking compensation.

Common reasons for gray divorce

One recent trend in the realm of divorce is the surprising increase in the rate of divorce for married couples over the age of 50. The Pew Research Center shows that in 2015, for every 1,000 married individuals over the age of 50, 10 ended up divorcing. 

This has come as a shock to many. However, there are many valid reasons why baby boomers have chosen to divorce later in life. Divorce is hard on anyone, regardless of age, but it is important to recognize the differences in the process when taking into account the age of the spouses. 

Watch for signs of children playing one parent against the other

Children sometimes view a divorce as a way to manipulate parents into giving them their own way. The issue here is that they might claim that one parent already approved an activity or that they get to do specific things at the other parent's house. By making these claims, they are hoping that they will get to do what they want.

As a newly single parent, it is up to you to set the rules for your house. You need to think about how you want things to work. Once you set the rules, relay them to the children, and don't deviate from them.

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