Marital Agreements | TJC.ESQ https://www.tjcesq.com FindLaw IM Template Thu, 03 Dec 2020 10:44:21 +0000 en-US hourly 1 https://wordpress.org/?v=5.3.1 /wp-content/uploads/sites/1301678/2020/11/cropped-tjc-site-icon-32x32.png Marital Agreements | TJC.ESQ https://www.tjcesq.com 32 32 A BREAKDOWN OF THE RHODE ISLAND DIVORCE PROCESS https://www.tjcesq.com/blog/2016/07/a-breakdown-of-the-rhode-island-divorce-process/ Mon, 25 Jul 2016 09:34:05 +0000 https://3160962.findlaw3.flsitebuilder.com/blog/2016/07/a-breakdown-of-the-rhode-island-divorce-process/ Divorce can be an incredibly complicated and emotional endeavor. As your family is thrust in to the Rhode Island Family Court system, it can be confusing to know what to expect during the associated legal processes. To help you make sense of what is to come, our firm has broken down the Rhode Island divorce process into a simple to use guide that identifies the main issues at hand and addresses your concerns.

Should I Hire a Lawyer?
In most cases, yes. While you may choose to represent yourself “pro se,” this is highly inadvisable. The divorce process involves a myriad of different applicable laws, deadlines, and procedures that can expose you to a large potential for error. While some minor clerical mistakes can result in delays, other errors can potentially affect your divorce settlement and subject you to penalties. An attorney can handle the associated paperwork and legalese on your behalf, as well as ensure your interests are protected at all times throughout your case.

What are Acceptable Grounds for Divorce in Rhode Island?
Rhode Island is a no-fault divorce state, meaning that couples do not need to cite any sort of misconduct by either spouse in order to pursue a divorce. Most divorces within the state are granted due to “irreconcilable differences,” or simply because spouses do not get along. Divorces that are filed on grounds of fault such as adultery or abuse are typically more contested matters. The only requirement for divorce is that you or your spouse must have lived in Rhode Island for at least one year prior to filing for divorce. Certain exceptions to this rule apply, such as instances in which a spouse is serving active duty in the military but lived in Rhode Island before enlisting.

What Issues Must Be Addressed in My Divorce Arrangement?
Once you and your spouse have retained legal representation and have filed for divorce, you must negotiate the terms of your divorce settlement. The following issues must be addressed:

  1. Asset & debt division: Unless wrongdoing is alleged, all assets and debts acquired during the course of your marriage are to be divided equally. This includes real estate, property, vehicles, cash assets, personal belongings, retirement accounts, pension plans, securities, stocks and bonds, and jointly owned businesses. Assets and debts that were acquired or accrued prior to your marriage or after the date of your separation are generally considered separate and are not subject to equitable distribution. The division of marital assets is frequently one of the most contentious issues during the divorce process.
  2. Alimony: The higher-earning spouse may be required to make alimony or spousal support payments to the lower earning spouse on a temporary or permanent basis, depending on the length of the marriage, the lifestyle experienced during the marriage, and the earning capacity of both spouses. Alimony is generally rehabilitative in Rhode Island, meaning that it is granted only for a short period of time to help a spouse get the education or training they need to find gainful employment. Indefinite spousal support payments may be granted if a dependent spouse is of considerable age or poor health, or if the paying spouse is found to have subjected the dependent spouse to some form of malevolent behavior during the marriage.
  3. Custody & visitation: If you and your spouse have minor children, custody and visitation schedules will need to be established. It is not uncommon for couples in Rhode Island to receive joint custody of their children, allowing each parent to maintain a say in their children’s upbringing. Sole custody may be awarded to one parent if the other parent is deemed unfit to care for their child, though this will depend on the unique circumstances of your case.
  4. Child support: The parent that receives physical placement of the child or children must receive child support payments from the non-custodial parent to help offset the cost of raising the child. Child support is calculated by a formula based on the income of the parents and may not be waived by the custodial parent.

These issues may either be negotiated by you and your spouse in an out-of-court uncontested divorce or through contested litigation, though divorces rarely end up going to trial in Rhode Island. Collaborating with your spouse towards an uncontested divorce settlement is greatly preferred over a contested legal battle since it can save you a considerable amount of time, money, and stress.

When Will My Divorce Be Finalized?
Whether you and your spouse have negotiated the terms of your divorce or are looking to pursue litigation, there must be a court hearing of some kind in order to finalize your divorce. All divorce cases are initially scheduled for an uncontested hearing within 90 days of filing for divorce. Once a hearing or trial has been held, judge will file a temporary decree with the court that lists the court’s findings and decision. After 90 days, the Final Decree will be entered. You will remain married to your spouse until the Final Decree is entered.

Divorcing? Call 401-400-4254 Today
If you and your spouse have decided to dissolve your marriage, the Rhode Island divorce attorneys at TJC • ESQ. are here to help. Backed by numerous positive client testimonials and more than 30 years of family law experience, our firm can help you and your spouse pursue an amicable separation and ensure your rights are protected during this difficult time.

We proudly offer free case reviews to all who approach us for help. Schedule yours today.

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WHY ARE THERE SO FEW DIVORCE TRIALS IN RHODE ISLAND? https://www.tjcesq.com/blog/2016/07/why-are-there-so-few-divorce-trials-in-rhode-island/ Tue, 19 Jul 2016 09:53:41 +0000 https://3160962.findlaw3.flsitebuilder.com/blog/2016/07/why-are-there-so-few-divorce-trials-in-rhode-island/ Thousands of divorce cases are filed in Rhode Island every year. However, if you were to visit the Providence Family court and walk from courtroom to courtroom for an entire month, you will likely stumble upon no more than one or two divorce trials. Out of these few divorce trials, the likelihood that the trial will actually be completed with a judge’s decision is minimal. But why is this the case?

There are a multitude of reasons why there are so few divorce trials. First, the Rhode Island Family Court system has developed a culture and practice over the years of directly and indirectly promoting divorcing spouses to pursue out-of-court settlements. Whether it be from the pressure of a judge or the spouses’ own counsel, couples are encouraged to work together with one another towards an uncontested divorce to avoid the emotional and physical burden of a trial. In many ways, divorce trials are seen as a breakdown of the system and are discouraged by judges and attorneys alike.

The system itself usually tends to wear parties down to the point where they no longer feel it is worth it to pursue a trial. Lengthy hearings, delays, conflicting schedules of judges and attorneys, and the financial cost of pursing litigation can become overwhelming for the involved parties, oftentimes prompting them to settle. Furthermore, while other types of legal issues such as criminal trials or contract disputes can have a clear winner and loser, divorce cases are not as black and white in their outcomes. Many skilled divorce lawyers can foresee the possible outcomes of a divorce and will encourage their clients to settle, as they will likely do worse if they choose to pursue a trial.

It is also not uncommon for cases to go to the day of trial yet settle before the trial starts. This is usually caused by clients and their lawyers attempting to gain as much leverage as they can to obtain the best settlement possible for their case, sort of like a legal game of “chicken.” This is often the case with particularly contentious cases, such as those involving high net-worth assets.

Simplify Your Divorce with TJC • ESQ. Today
If you are approaching divorce or are already knee-deep in the divorce process, it is important you have a knowledgeable attorney by your side to ensure your best interests are protected. At TJC • ESQ., our trusted Rhode Island divorce attorneys have more than 30 years of experience and can provide the steadfast support you need to guide you and your spouse towards an amicable solution for your divorce.

Come see why our past clients have praised usschedule a free consultation online today.

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RHODE ISLAND DIVORCE: HOW WILL MY BUSINESS BE VALUED? https://www.tjcesq.com/blog/2016/07/rhode-island-divorce-how-will-my-business-be-valued/ Thu, 14 Jul 2016 09:59:48 +0000 https://3160962.findlaw3.flsitebuilder.com/blog/2016/07/rhode-island-divorce-how-will-my-business-be-valued/ One of the most complex and contentious matters during a Rhode Island divorce is the issue of property division. If you or your spouse owns a business, this process can become even more complex. Who will retain control of the business after the divorce? How much is the business worth? To answer these questions, the courts will consider the following factors:

  1. Whether the business was started before or after the date of marriage
  2. Whether the business was a gift or inheritance
  3. Whether the business is a sole proprietorship or professional practice
  4. Whether the non-owning spouse contributed to the business’ success

Depending on the court’s findings, the business will either be included or excluded from your and your spouse’s marital property. If deemed marital property, the courts will then be tasked with determining a business’ value to ensure you both receive a fair share. Determining how much you will each receive, however, can be complicated.

While appraising and dividing assets such as homes, vehicles, and other belongings can be relatively straightforward, businesses are complex entities that can be made up of a wide range of tangible and intangible assets, including inventory, land, intellectual property, good will, equipment, and bank accounts. To accommodate for this complexity, an appraiser is usually retained to accurately assess the value of the business.

The following methods may be used to appraise your business:

  • Asset approach: The fair market value of the business is calculated by adding together the total amount of all assets, both tangible and intangible, and subtracting all company liabilities.
  • Income approach: The business is valued based on anticipated economic benefits, such as cash flow.
  • Market approach: The sales of the business are compared to those of other similar businesses to forecast the company’s value.

Once reports have been created, you and your spouse will be given the opportunity to negotiate with each other towards an agreement to have one of you “buy out” the other’s share of the business, either through a cash payment or property settlement. If you and your spouse are unable to come to a mutually acceptable arrangement, the courts will step in and issue a decision that determines an equitable division for you and your spouse.

Divorcing? Call TJC • ESQ Today
No divorce is simple – and it is not a process you should consider going through alone. At TJC • ESQ, our award-winning Providence divorce lawyers have been helping couples simplify their divorces for more than 30 years and can provide the compassionate guidance you need to get through this time as smoothly as possible.

To find out more about what our team of attorneys can do for you, call 401-400-4254 or schedule a confidential case evaluation today to get started.

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POSTNUPTIAL AGREEMENTS: WHAT ARE THEY AND DO YOU NEED ONE? https://www.tjcesq.com/blog/2016/04/postnuptial-agreements-what-are-they-and-do-you-need-one/ Thu, 21 Apr 2016 12:07:36 +0000 https://3160962.findlaw3.flsitebuilder.com/blog/2016/04/postnuptial-agreements-what-are-they-and-do-you-need-one/ True love is a powerful thing but certain love is actually quite rare. Ask a couple that has been happily married for most of their lives and even they will probably tell you that there were moments where they had their doubts or fears about where their marriage was headed. This is a natural part of being in a committed relationship. For some married people, they want to find a way protect themselves from this doubt, reduce the stress they are feeling, and ultimately give themselves peace of mind again. What can do all of this and more for them?

Postnuptial Agreements – The Safety Net of Marriages

You have probably heard about prenuptial agreements before. The documentation spouses-to-be create and sign together before they ever get married that discusses what to do and what should be done in the event that they decide to divorce later. Prenuptial agreements are a great way to plan ahead and reduce worry during your marriage. It is almost as if your marriage is an airplane and the prenuptial agreement is your parachute; you hope you don’t need it but it is great to have it under your seat all the same.

A postnuptial agreement is the twin documentation to prenuptial agreements, doing basically the exact same thing but being created after the marriage is finalized. Think of it like the safety net for the tight-wire walk that is your marriage; you both have already stepped onto the rope, you both are confident you are going to make it across, but now that you think about it, setting a net below is just a good idea in all scenarios. If anything goes wrong, the impact of the fall will be absorbed and there should be no dramatic complications.

Three of the main topics a postnuptial agreement should discuss are:

In many cases, anything regarding child support and child custody is off-limits for a postnuptial agreement. Rhode Island divorce courts, as well as most other state courts, do not approve of predetermining the needs of a child after divorce and would rather handle related concerns as they arise.

There is No Need to Be Upset

Prenuptial agreements sometimes are cast in a negative light due to the fact that people can perceive its creation as a spouse’s hesitation to get married. Postnuptial agreements are generally even more frowned upon. When a spouse brings up the idea, the other may become upset and think it is nothing but a precursor to divorce, but the reality could be the exact opposite. Many people who want to make a postnuptial agreement do so because they care deeply for their spouses, so much so that they want to ensure they are comfortable and secure should their relationship fall apart. Planning ahead for the “what if” and “just in case” scenarios may spare both spouses stress, trouble, and some heartache later on.

If you think a postnuptial agreement could be a wise choice for you and your spouse, contact TJC • ESQ. Our Rhode Island family law attorneys would be happy to explain the benefits of postnuptial agreements and what you should include in yours. When it comes time to draft and sign one together with your spouse, we will be there to guide you as well. Just call 401-400-4254for a completely free consultation today.

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