protect your assets with prenuptial agreement

7/31/2019 Protect Your Assets With Prenuptial Agreement

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The Qualities a Family Lawyer Must Have

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TABLE OF CONTENTS


3

De Facto Law Redefines Spousal Responsibilities When Romance Fizzles

4

Heres What You Need to Know about Drawing Up a Legal Will

5Explaining the Need for a Prenuptial Agreement

6

Child Custody Law: Whats Best for the Kids

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Most families nowadays are so complex and its typical to

have members butting heads over simple matters.

Current statistics show that in ten marriages, seven are

likely to end up in divorce. This is a rather disturbing

number and the grounds for this rate have even become

quite ludicrous over the last twenty years. While its

almost quite easy to get divorced these days, there are

many intricacies involved for the whole process to fall

through, especially when there are children involved and

wealth to distribute accordingly, hence the need for a

really good family lawyer.

The disputes and issues among family members can bevery sensitive so its crucial that the family lawyer

possesses qualities beyond competence as a professional. He/She must also prove that he/she

upholds the moral values that family law pushes forward.

Clients need their lawyers to be able to assure them time and time again that their best interest

is the goal. Great family lawyers are sensitive to the concerns and issues of their clients but they

keep an open mind to be able to weigh matters logically to come up with the best results for

their clients. They are honest about the way the legal process is projected to go even if things

are not leaning towards the favour of the clients. They also present settlement options to

ensure the welfare of the people they represent when the case takes a turn away from the

original objective.

Oftentimes clients express that their family lawyers have the ability to coax information out of

them in such a way that they do not feel aggravated or embarrassed. Family lawyers know how

to get their clients trust so they will feel more comfortable sharing (or volunteering)

information pertinent to the case.

A goodfamily lawyeralso knows when to say no. He/She will not shy in expressing his/her

qualms about the demands of the clients. There are instances when clients expect andpressure their lawyers to just see things their way. A seasoned lawyer, however, will insist on

the best way instead of just heeding the whims of the clients that may actually compromise the

achievement of the best possible outcome for the case. Also, for divorce cases with children

involved, the lawyer always puts the children first and will not manipulate them to sway the

jury. In famous legal dramas, children are often treated like pawn pieces; but in the real world,
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the best family lawyers will, as much as possible,

keep the children out of the courtroom to protect

them from added stress that the proceeding may

inflict.

De Facto Law Redefines Spousal

Responsibilities When Romance Fizzles

Perhaps its to do away with the complications of

a legitimised union, but a lot of couples are

choosing not to get married nowadays, stating

that being in love is all that matters. For a long

time, the arrangement was labelled, living in sin,

which was eventually called a live-in relationship,

and now a de facto relationship. Know moreabout what to do when romance fizzles, just click

here.

The arrangement really has not changed; the

terms have only changed according to the level of

acceptance that people have of two people of

legal age, of no biological relation to each other,

living under one roof like a married couple. They really are practically married: they split

financial obligations, have joint bank accounts, and probably even have children only without

that piece of paper and a pair of wedding bands. And just like most married couples these days,

they separate as well and thats when all the drama happens.

Four decades back, a common law wife was easily dismissed by the law. She had no rights

over the assets of her former partner and if they had children, the children got some financial

assistance (only when its been proven that they were indeed the offspring of the concerned

personality) but the common law wife surely did not. If she had been instrumental in the

accumulation of assets of her partner during the time they were together, she would have had

to go the distance to prove her contribution and that she had right over some of the assets.

The de facto law came about to recognise the legal rights of couples in a de facto relationship.

Currently the family law gives couples in a de facto relationship the right to appeal their case ina family court. Matters like alimony, division of properties acquired during the relationship, and

even child support are decided by the court. There has to be consent between parties though,

for all these things to be carried out formally and properly. If one party is not agreeable to the

conditions set, the de facto law provides the aggrieved party a chance to get the court to

formally recognise his/her rights to demand spousal support and even equal shares of assets

and savings acquired within the duration of the relationship.
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For spousal support, the court determines the amount of financial assistance a partner receives

by assessing basic needs and ability to earn money. A detailed presentation of financial data

and needs is required. Should the economic status of the support recipient changesay,

he/she becomes richthe provider may negotiate according to the coverage of the de facto

law. Anyway, the creation of this law helps unwed exes to settle their property disputes and

other legal issues easily by having the court decide the best possible arrangement for them.Heres What You Need to Know about

Drawing Up a Legal Will

You probably think youre still too young to

draw up a will but once you start

contemplating on having a family, one of the

effective ways of looking after them is by

being legally prepared for whatever the

future may bring. Some people may think

that youre being morbid if youre preparing

a document intended to take effect once

youve passed on to the after-life, but its

better to see this effort as an act of love or

care. Creating a legal will early will allow you

to properly distribute your properties and

wealth in a well-thought-of manner that will

not cause discord among your family members when youre gone.

A lot of relationships have already suffered due to the absence of a legal will. The law oftenoverlooks the special dynamics of certain families and creates an unfair advantage to some

members. Say, you never really got married but you have been living with your partner longer

than most married couples and you believe that everything you have ever acquired in your

lifetime is also his/hers; however, the law will not recognise your partner as your legal heir once

you die. All your assets will instantly be divided and go to immediate relatives whom you may

not have spoken to in years instead of that person whom you really spent your life with. Also,

you will not have an executor which will surely create complications among the people that you

have left behind there are personal interests that will surface which often lead to the demise

of relationships. If you love your family, you surely wouldnt want to leave them with problems.

Drawing up alegal willearly has a lot of advantages because youre likely to be of sound mind

and body which is the most important requirement your requests will not be questioned for

validity. It will also be easier to find valid witnesses to sign the will with you; two are enough

but they should not be any of your beneficiaries. A lawyer is not really required in drawing up a

will, just like in the movies where people just take a pen and write things down. However,

having your lawyer with you is highly recommended because he can guide you through the

legal aspects of the elements of your will.
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Once youre done, you will need to send the document for safe-keeping. If you have a safe at

home that only you and your lawyer have access to, thats often good enough but the bank is

often a good place for safekeeping as well (along with your money and other valuable property

documents).

To conclude, once you start accumulating assets, its important to follow it up by making a legal

will. Whether you have a family or not, you wouldnt want just any organisation to decide and

distribute your assets when youre gone. You worked hard for them so you should have legal

control over to whom or where they should go.

Explaining the Need for a

Prenuptial Agreement

Marriage as an institution keeps

spiraling into a complicated knot

these days as society continues to

break archaic ways. Men and women

often find themselves on equal

footingfinancially speakingand

theres always that desire to secure

personal assets lest marriage does

not last til the husband and wife

breathe their last.

A prenuptial agreement is now incredibly common; people ask,Why the need when love is

supposed to be absolute?However, the practical inclination that most people have nowadays

has been prompting more and more couples to create one before vows are uttered at the altar.

The first and perhaps the most important thing a prenuptial agreement does is that it separates

the spouses assets acquired before marriage. This is also a good way for business folks to

secure their business operations and profits better when a spouse finds him/herself in a

financially-threatened situation.

A pre-nup also frees the more economically stable spouse from alimony if the marriage gets

dissolved. Again, its personal wealth protection. Michael Jordan didnt have a pre-nup when

he got married, so his wife walked away with 168 million USD as settlement after the divorce.

People easily pointed out how she didnt have any contribution to Jordans wealth so for her to

end up with that insane amount of money after divorce surely had wealthy athletes drawing up

a pre-nup.
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Child custody law states that the financial support for the kids should cover accommodation

(housing), clothes, food, medical costs, and schooling. This financial support always comes

from the parent that has a better economic status. The cost for this can be altered as needed

but will require some negotiation between parties and then the approval of the judge.

Visitation rights are also covered by this law and for every case, the granted visitation

arrangement is always different. If one parent has a history of alcohol and drug abuse, the

court will set conditions that the said parent has to comply with to be able to visit his/her child.

The schedule provided for visitation rights is often stringent so as to provide the children the

regularity and protection (both physical and psychological) that they need.

Custody over a child can also be revoked if the parent fails to provide a stable home.

Remarriage, profession, and involvement with shady activities are often grounds for a re-

evaluation of the custody grant. If a childs well-being can be compromised, a concerned

individual, often a relative or the other parent, can present the case to a judge so custody canbe given to the parent or caregiver who can provide a more suitable environment for the child.

The child custody law encompasses a lot of policies because children are often helpless when it

comes to the complexities that adults get into. With this law, the young ones will have an

easier time adapting to the changes of their family dynamics.
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