Divorce can be particularly traumatizing for children, as it may bring to the surface a wide range of feelings for them, including sadness, remorse, confusion and more. Because of this, you must break the news of your impending divorce as delicately as possible.
This type of life-altering news needs to be shared as a family, even though you may not want your soon-to-be ex to be in the same room as you. This is when you need to put your children’s needs before your own.
Your kids will probably have questions once you've told them the news. Let them ask any questions they may have. They could be questioning if they are the reason for the divorce. Try your best to reassure them that they are not at fault and to relieve their anxieties.
Putting yourself in their shoes can help you to understand the situation from their perspective. Give your kids time to adjust to the changes brought about by your divorce. Don’t forget to look after yourself at the same time. Seeking assistance during the divorce process can lighten your load considerably.
]]>Unfortunately, all parties may not agree on what is fair and what is not. A spouse may attempt to hide assets in the hope that they are not factored into the property distribution process. Not only is this unlawful, but it could mean that you do not receive the divorce settlement that you are entitled to.
How can you tell if your spouse is hiding assets?
Prior to the divorce, you and your spouse were relatively well off financially. Business was booming and you each earned a decent income. However, during divorce proceedings, your spouse has claimed that they are not earning much income at all and that some investments have gone wrong.
While this may be legitimate, the timing of it could also raise suspicions.
To gain a clearer picture of your financial circumstances, you may have attempted to access joint banking and savings accounts. However, to your surprise, your access has been restricted. Your password doesn’t work, which indicates that it must have been changed.
If you’ve been locked out of joint accounts with no warning, this could be a sign that something is amiss.
Any financial irregularities during divorce proceedings could be a sign of hidden assets. It’s important that you act quickly so that the court can be provided with accurate details. Having legal guidance behind you will help to address any concerns you have and ensure a fair divorce settlement.
]]>One of the foundational documents of every estate plan is the will. Despite the importance of estate planning, over half of Americans have no will.
Here are some of the key reasons why you should draft a will as soon as possible.
A will can ensure that your assets go to the people you love the most. You may have worked hard over the years to build up savings and assets. Without a will, if you pass away, this means you die intestate. In such a scenario it is up to the courts to distribute your assets. They may not do this in line with your wishes. A will can help you to avoid this situation.
In your will, you should name an executor. This is the individual tasked with ensuring that your instructions are carried out. An individual you trust will be better than someone the court appoints.
A will is about more than money and assets. This document can also carry out crucial functions such as giving you the ability to nominate legal guardians. These are individuals who will be responsible for raising your children should something happen to you. You can name multiple guardians, including backups.
If you have yet to draft a will, then this is something you should consider doing for the reasons discussed above. Even if you have drafted one already, it needs to reflect your current wishes. You can update your will at any time. Seek legal guidance to find out more about your estate planning options.
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