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Recent Blog Posts
What Happens When Judge Sends Litigant Facebook Friend Request?
We've all read the warnings by legal experts about watching what we post on social media sites, especially when involved in litigation, such as a divorce or child custody battles. But the Orlando Sentinel recently reported on one woman's experience when she ignored a Facebook friend request she received - from the judge who was presiding over her divorce case.
Seminole County Circuit Judge Linda Schoonover had heard the divorce case involving 49 year old Sandra Chace but had not issued a ruling when she sent Chase a friends request on Facebook. Chase immediately told her attorney about the online communication and he advised her to ignore the request. Chase followed her attorney's advice and although she didn't reject the friend request, she just didn't respond to it.
Shortly thereafter, when the judge issued her decision, Chase was ordered to pay her ex-husband $4000 per month in alimony, an amount Chase's attorney called excessive. She was also ordered to pay her ex-husband's legal fees.
Preventing Divorce from Derailing Retirement Plans
Especially when you have been married for many years, getting divorced later in life and be especially complex. You're more likely to have a lot of your finances tied up together, including retirement plans and accounts. A recent study by Investors Group found that 80 percent of "gray divorcees" planned to delay their retirement because they would need to work longer than planned. Another 62 percent admitted that their savings and investments after divorce meant they were no longer able to fund their retirement accounts as planned.
Emotionally, divorce can be liberating when it's the right situation for you. Financially, you should consult with a divorce attorney for planning purposes before moving forward with your marriage termination. When your retirement date is nearing, the financial implications of divorce can wreak havoc on plans you have spent most of your life building.
Having the "Talk" with Your Kids
A recent article in Daily Finance highlighted just how important it is for adults to discuss with their aging parents what plans are in place should the day come with one or both of the parents become incapacitated. Failure to plan for that future can have devastating consequences for both the parents and their families. It's critical for parents to formulate a plan for the future and share it with their adult children.
It's not always comfortable for parents to discuss finances with their offspring. According to Tim Prosch, author of the book The Other Talk: A Guide to Talking With Your Adult Children About the Rest of Your Life, there are three reasons that cause the difficulty many parent have when it comes to discussing these matter with their children.
Is Big Wedding Worth the Price?
According to a report from ABC News, the average price of a wedding is over $27,000 - not including the honeymoon. In a survey conducted by TheKnot.com and WeddingChannel.com, 18,000 couples who were married in 2011, were asked to list expenses in 16 different areas. Final price tag was just under $200 per guest. This was based on a guest list of about 138 people.
The biggest spenders were couple in New York City, where the average cost of a wedding was just under $66,000. Chicago couples came in second, at $53,000 per wedding. The third and fourth were both in New York - Long Island, at $50,000; the Hudson Valley $46,000. Neighboring New Jersey's weddings averaged approximately $42,000; followed by Rhode Island at $41,000; and Los Angeles and Philadelphia both at $37,000. Couples in West Virginia spent the least, with their costs averaging $14,000.
Estate Planning Guidelines When you Have a Non-Citizen Spouse
Standard estate planning tax advice might not work for situations in which one or both spouses are resident aliens. The term resident alien is used by the U.S. government to describe non-citizens who are permanent U.S. residents, and it could be beneficial for those in this circumstance to get some guidance from an estate planning attorney.
Under federal tax law, resident aliens and American citizens are governed by the same estate tax rules. In cases where the taxable estate assets are above $5.34 million, the IRS will want 40% of those excess funds. With careful planning, the implications of the federal estate tax can be avoided or minimized.
U.S. citizens are eligible to take advantage of the unlimited marital deduction, which allows for as many tax-free transfers to your spouse during your lifetime as you would like. Unfortunately, non-citizen spouses can't take advantage of this program. This can be a big hit when it comes to the estate tax, since the IRS will always want to go after 40% of the excess.
Three Expert Tips For Managing Divorce Stress
Whether you have been dreading the divorce stress since you began considering it or whether it snuck up on you, feeling frustrated or overwhelmed are common symptoms of the legal process of divorce. According to Dr. Ann Gatty, there are steps that you can take to relieve the stress and to move on effectively with your life.
Gatty says that the first step of managing divorce stress is to discontinue the process of blaming yourself. When a major relationship ends, people may start replaying the steps that led to the current day, wondering if they are to blame for everything falling apart.
There's no shame in acknowledging that one or both parties contributed to the end of the relationship, but there's also no sense in replaying history over and over in your head. No one is perfect, and you shouldn't beat yourself up about it. If divorce was truly the right step for you, then you can't berate yourself for it.
Tips on Leaving Inheritances to Your Children
According to an article from AARP, baby-boomer parents will be leaving $30 trillion to their children over the next four decades, keeping in mind factors such as longevity, the economy and the stock market. There are steps you can take to ensure that the estate plans you make are carried out in the easiest and less painful way possible.
One of the most important factors to keep in mind is communication with your children about where you stand financially. Fidelity Investments conducted a survey that revealed that most people underestimate their parents' financial worth by approximately $100,000.
It's also important to let your children know who to contact in the event of your death, as well as where important documents are kept for safe-keeping.
Man files $130 Million Lawsuit Against Son's Biological Mother
A Utah man has filed a $130 million lawsuit against the biological mother of his son, who he claims, put their son up for adoption without his knowledge. According to his lawsuit, Whitney Pettersson Demke "essentially kidnapped" his son, and she conspired with the adoptive parents and the adoption agency in an "illegal, deceit-ridden infant adoption" that has kept him from his son.
In 2010, Jake Strickland was dating Demke when she told him she was pregnant. Although the two did not remain a couple and stopped dating before the baby was born, they both agreed to co-parenting responsibilities for the child. According to Strickland, during the pregnancy, they picked out a name for the baby boy - Jack - and he gave Demke money for medical and other expenses, attended doctor's appointments with her, and had even decorated a room in his home for his son's nursery.
The Importance of Estate Planning when Diagnosed with Alzheimer's Disease
According to the Alzheimer's Association, Alzheimer's disease is the sixth leading cause of death in the United States.
Currently, there are 5 million people who are 65 years or older suffering from the disease, and another 200,000 younger than 65 who are struggling with early-onset Alzheimer's. Those numbers will continue to rise as Americans continue to grow older. By 2025, the number of Americans who will be diagnosed with Alzheimer's is predicted to reach over 7 million, and by 2050, that number will reach almost 14 million if no medical cures are found.
The National Institute on Aging, (NIA), recommends a series of steps that a person who has recently been diagnosed with Alzheimer's, or any other serious illness, should take in order to make sure that their wishes are carried out. The organization has broken down the estate planning one should do into two groups - documents outlining the health care wishes of the person and documents outlining the financial wishes.
Expert Tips for Starting Over After A Divorce
A divorce can represent a major change in your life circumstances, but being prepared with a plan can be really helpful for giving you the time you need to heal successfully. If you have been thinking about a divorce but would like some of your questions answered first, reach out to an Illinois divorce attorney to get started with your plan. When you understand how the legal process works, you might feel more confident about your next step.
Judy Smith is a divorce coach who has written several books about moving on after a relationship has ended. She recommends that first and foremost you give yourself an opportunity to grieve. It's not going to be easy to move on immediately and you shouldn't attempt to. You should instead focus on taking small steps and allowing yourself to process through the emotions.
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