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Springfield Family Law Blog

Skipped the prenup? You can still protect yourself

The idea of signing a prenuptial agreement may never have crossed your mind. Perhaps you and your spouse even joked about what you might put in your contract and dismissed any serious thought of such an agreement as something reserved for celebrities and heirs of great fortunes.

You may never have expected your life to take the changes it has, and now the thought of a prenuptial agreement does not sound so silly. In fact, you may be regretting that you did not take the idea more seriously when you had the chance. Fortunately, you have another option. If you are already married and believe the protection of a marital agreement may benefit you, you may want to learn more about postnuptial agreements.

Is a New Year divorce in your future?

Are you going all out for the holidays this year? Perhaps you are spending more on gifts, making more time with the kids and accepting more invitations to parties and gatherings than you have in years past. Have you doubled the amount of decorations in and around your house? Have you made reservations for a family trip? Or maybe the opposite is true. Maybe this year you are toning things down, simplifying your holidays.

If the catalyst behind either of these choices is the weakening bond of your marriage relationship, you are not alone. Many spouses will be celebrating this holiday season knowing it will likely be the last one together. You may find yourself going all out or pulling back from the fracas as you consider your options for the new year. In fact, for many family law attorneys, January is the peak month for divorce.

Can you protect your business during your divorce?

After spending years or even decades building and nurturing your business, the last thing you may want is to lose all or part of it during a divorce. The truth is that you will need to take some steps in order to keep your business intact should this happen.

If you had the opportunity and the forethought to do so, you entered into a prenuptial agreement with your future spouse in order to protect your business. If you didn't, or your spouse declined to enter into the prenup, then you will have some work to do during the divorce process.

Is your ex attempting to relocate with your children?

Getting a divorce can cause many changes in any Oregon resident's life. You and your ex-spouse may have made many important decisions during your case, including those relating to custody and outlining when you would each see the children. Though it may have been a difficult adjustment at first, you feel that you have gotten into a routine.

However, you now have major concerns because the other parent has informed you that he or she wants to relocate and take the children. You may immediately want to object to such action, and you likely have legal grounds to do so. Still, the possibility does exist that the other parent could move with the children.

Divorce can bring unexpected financial burdens

Divorce is seldom easy. Perhaps you knew this already, and you hope to take every possible step to simplify and streamline the process. You may prefer the gentler form of mediation to avoid the heavy conflict of a litigated divorce. Whatever method you and your spouse choose to end your marriage, your goal is to move on with your new life with as little stress as possible.

Even if your divorce is civil and amicable, you should still prepare for changes in your post-divorce life. Most divorced individuals do experience some financial struggle in the months and years following a divorce as they adjust to their new reality. It may help you to learn all you can about the common financial setbacks some people deal with when newly single.

Do you have concerns about your artwork and your divorce?

Because each divorce case is different, you may have certain details to consider that many other Oregon residents may not. If you have a considerable amount of wealth, you could have specific assets that will likely complicate the asset division process. In particular, if you have an art collection or create works of art yourself, your case faces additional complexities.

Whether you want to hold on to as much of the artwork as possible or ensure that you receive a fair share of other assets, one of the most important factors in dividing artwork is valuation. Unfortunately, it can be difficult to determine the exact value of a piece, especially of original artwork.

Divorced parents need to update each other during the school year

Oregon students going back to school after their parents’ divorce may struggle with their academic performance. They are now dealing with the everyday hardships of attending classes without having both parents in the same house when they arrive home. Even if your divorce wasn’t high in conflict, your child still has a high chance of struggling in school.

If you want your child to succeed in the classroom, then both of their parents need to be able to help them whenever they can. This means that you both need to communicate to each other frequently during the school year so you can successfully co-parent your kid even if you two aren’t together anymore. Here are some parts of your child’s life you and your ex should inform each other about:

Mistakes to avoid in a high asset divorce

Getting a divorce where one or both parties have a lot of wealth can be especially complicated. Many assets can be involved. Understanding that the public will likely know about your divorce can be stressful. Having a divorce where you and your spouse are satisfied could involve a level of compromise.

Don’t forget to make a ‘divorce story’

Updates to make to your estate plan after your divorce

Divorce can often induce feelings of uncertainty, as one tries to figure out what life will look like post-separation.

While there are many important issues to contend with during a divorce—such as child custody and asset division—one task that can’t be overlooked is updating an estate plan.

How will divorce affect my retirement savings?

According to the American Psychological Association, 50% of marriages in the United States end in divorce. Though the process is not uncommon, it is still often a delicate and difficult situation. While there are certainly personal concerns, such as parenting and heartbreak, the financial implications of splitting up with your partner are of great concern as well. According to divorce attorney’s, retirement savings are one of the most contentious issues regarding divorce.

Because Oregon is an equitable distribution state, the courts will try to divide the communal nest egg as fairly as possible. However, this does not necessarily mean that your retirement plan will always remain untouched.