Friday, June 20, 2014

What do I need for my first Consultation for a Divorce?


Most individuals ask this question when they make their initial consultation appointment with me.  This is a great question since it will make the consultation much easier to explain to the client.  I normally will respond with the follow:

 

    1. Please bring your marriage certificate.  Your marriage certificate has a lot of information that I will need if you are filing for a divorce. This document is also needed to be filed with the Family Court when you file for divorce. 

 

 

     2.  Please bring in your most four (4) recent pay stubs.  If there are any financial issues such as child support, that I can estimate what a child support guideline will be based on your monthly gross earning and your partner's monthly gross earnings.  Your pay receipt will also state what you are paying for medical and/or dental insurance.  Since the child support guideline worksheet gives deductions for these expenses, your monthly gross income will be reduced by these expenses.

 

    3.  Please bring in any pensions, 401(k), IRA(s), Deferred Compensation etc.   This will save you a lot of expense and time.  Once I have these computations, you will be able to know and I can then calculate if all of the pensions etc. are marital or only a portion is marital.  Pensions etc. are sometimes a huge asset that one of the parties has accumulated during the course of the marriage.  This is the parties' retirement funds and they are very important to one's financial future.

 

    4.    If you have minor children,  please bring with you:  Any and all day care costs receipts, extracurricular receipts, medical receipts.  This will be helpful in calculating a child support guideline worksheet. 

 

   5.  PLEASE: Do not bring any anxiety or fear!:  Most individuals are very anxious when meeting with an attorney.  Please note that I am very down to earth and my office is quite informal.  Your first consultation for a divorce will be very comforting knowing that I have the competency, integrity and compassion for you and what this time period in your life means to you.  After practicing for 26 years, I completely understand your position and mind set.  Feel free to call me at any time.  I always respond to telephone calls.  Again, you will be treated with dignity and I will guide you through this array of issues that are very important to you!

For more information, please Visit Us Online

How Are Assets Divided in a Divorce?


Most divorcing couples' main concern is dividing their assets such as their home (" the marital domicile"), their bank accounts, their pensions and their personal property.

    Two assets are not marital in nature. They are any inheritances that a party received and kept this completely separate from the other spouse and any gifts that were given to one spouse.

    In Rhode Island, assets acquired during the course of the marriage is deemed the "marital estate".

    I will first determine what is a marital asset and then I will determine how that particular asset should be divided.

    For example, if one spouse has a pension ( This would include: 401k; IRS, 401(b),and any other retirement investments) I will determine whether it was earning during the course of the marriage.  If this particular assets was earned entirely during the coursed of the marriage, then it is marital in nature and would be divided accordingly.  If the pension, etc. was not  earned during the entire length of the marriage, then a percentage of the amount currently vested in the pension etc. would be divided according to the number of years that the spouse was in service over the number of years that the parties have been marriage.  There would be a lesser amount distributed since some of the pension was vested prior to the marriage.  Once you and your spouse attend the divorce hearing, the party with the pension still accumulates his/her pension and the other parties' marital asset in that pension stops.

    For instance, if one spouse has worked twenty (20) years at their place of employment but has only been married to their spouse for ten (10) years, the other spouse would be entitled to 25% of that pension since one-half of it was accrued and vested over the course of the marriage.  The value, as I previously mentioned, would be determined as of the date your divorce is heard.  Thereafter, the spouse will continue to invest in their pension, but the other spouse's portion has ended.
 
For More information, please visit Iannone Law online.