Starting a new business can be an exciting venture. However, few people consider the consequences a divorce can have on business assets and debts. Do you know your rights? Do you know how the court will value your business? Do you have any idea what will happen to the business assets and debts? This article…
When divorcing, dividing assets can be a tedious process. Generally, both spouses are entitled to assets acquired and income earned during a marriage. This money is considered marital property and is subject to equitable division. The law in Rhode Island related to division of assets specifically excludes inherited property. However, after a person receives inherited…
When a marriage ends, the divorcing couple must decide how to divide the marital assets. Unless otherwise outlined in a pre-or post-nuptial agreement, all assets acquired during the marriage are considered marital assets under Rhode Island law. This includes money as well as personal property, stocks, real estate, debt, and business interests. It can even…
Generally the answer is no, however, a non-biological, non-adoptive parent who has acted in a parental role, and with whom the child identifies as a “parent” may be considered a de facto parent. A de facto parent is one who has no biological relation to the child but has participated in the child’s life as…
As part of the divorce process, both parties are required to complete a financial disclosure. This ensures both parties have a complete picture regarding finances. The financial disclosure includes details about all assets and compensation, including and Restricted Stock Units (RSU) grants. Before understanding how RSUs are divided in a divorce, let’s review a few…
It’s not uncommon for unmarried couples to purchase a home together. However, when couples decide to terminate their relationship up and only one party wants to sell the property, it may be necessary to initiate a legal proceeding to resolve the equitable and financial interests in the property. When one party refuses to sell, the…
Splitting assets during a divorce can be an arduous task. To complicate things, the division of certain retirement savings accounts requires an extra step. DRO vs. QDRO Divorce proceedings often conclude with a domestic relations order (DRO) to lay out the division of retirement assets. Assets from a qualified retirement plan, such as a 401(k),…
Divorce can be a trying life event, but add filing taxes into the mix, and most parents are running for the hills. Not to worry, by the end of this article, all of your divorce tax filing questions will be answered. Filing Status Let’s start with filing status. For couples going through the process of…
As a divorcing parent battling over custody, you may often fear that your child may decide they would rather live with the other parent or spouse. These concerns don’t end at the time of Final Judgement or resolution of your Custody case. Even once custody has been determined, parents may continue to worry as children…
When facing divorce, you may find yourself overwhelmed with the legal jargon used throughout the process. Add this frustration to the mounting stress and heightened emotion, and you may be left making poor decisions. While our firm is here to help guide you through the process and answer any questions you have, this guide can…
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