Posted by: Gerald A. Maggio, Esq.
The division of debt during divorce proceedings can be very complex. Divorce lawyers hear about incidents where one spouse decided to go on a shopping spree on a mutual credit card when the couple called it quits. The best thing a person can do when a divorce is imminent is to be vigilant in checking the status of credit cards and finances. Don’t let emotions take over you, only to find out months later that thousands more is owed to a creditor.
During divorce proceedings, an individual can explain and show how credit card transactions did not benefit him or her. Placing a freeze on credit cards can be beneficial so that a vindictive spouse does not ruin your credit history. In general, the debt accumulated during the marriage will be divided just like the assets – down the middle. If debts can be traced back to one person’s habits or interests, there can be exceptions.
Many people forget to take their name off mutual credit cards, and this can come back to haunt them months and years in the future. Remember that a divorce decree does not actually transfer the debts in one person’s name; individuals must call the creditor to make the name change and any relevant change of contact information. If one person fails to pay the card, but both names remain on the account, the creditors can come after both accountholders. Your credit score can drop dramatically and take a lot of effort to get back up. So it’s wise to remove your name as soon as possible to prevent harm. It’s also good to do this with bank accounts so that you don’t find that an ex cleaned it out.
Getting legal guidance from a qualified divorce attorney can help individuals get a hold of their finances and assets, and properly determine what is a fair child custody and parenting agreement. An attorney will keep your financial matters confidential.
In California, Riverside divorce attorney Gerald Maggio helps clients determine the best course of action to preserve their finances during and after a divorce proceeding. The Maggio Law Firm has helped thousands of clients with their divorce, division of debts and assets, and parenting matters.
For more information:
The Maggio Law Firm, Inc.
www.maggiolawfirm.com
Orange County Office
8105 Irvine Center Drive, Suite 600
Irvine, CA 92618
(949) 553-0304
(949) 553-0346 Fax
Riverside Office
3750 University Avenue, Suite 670
Riverside, CA 92501
Gerald A. Maggio is an Orange
County divorce attorney, in Irvine, California. To learn more about Orange County divorce lawyer, Gerald A. Maggio, visit Maggiolawfirm.com.
Posted by: Gerald A. Maggio, Esq.
With the economy still on a rocky road to recovery, many couples are choosing less contentious routes to divorce. Collaborative law can be less expensive and a more amicable way to divorce. Especially for the baby boom population that has doubled in divorce rates, collaborative law can be the best way to dissolve a marriage. Baby boomers have kids out of the house and some find that the marriage only lasted because of the kids.
Dividing the assets becomes a conversation between the couple, and is given the approval with a divorce attorney’s input versus in a courtroom with a judge deciding each individual’s share. “Divorce will always be a tough, emotional journey, but now people are being more practical and pragmatic about how to bring resolution,” said Karen Stewart, a divorce and relationship expert. “Boomers are looking for alternatives to the standard ‘hire two lawyers to fight it out’; people recognize the need to bring the marriage to an end in a less destructive way.”
When both adults can see the divorce akin to the end to a business relationship, they can remove the spite and stress that often leads people to court. Couples can expedite the divorce process with collaborative law and lessen a lot of the stress. When couples can focus on divorce in a business-like fashion they can remove themselves emotionally. Every divorce lawyer has a story about a client that fought for weeks over some prized possession that had no economic value and delayed divorce proceedings.
“Women tend to be completely paranoid about being left to starve and become bag ladies,” said Stewart. “Men are typically worried about being taken to the cleaners. Our job is to come up with a solution that is going to make both individuals leave feeling comfortable and secure.”
And that’s the essence of collaborative law. When a couple can sit down and divide property, assets, and mutually determine what is best for their children in custody and child support matters, each adult can be better off financially and emotionally.
The Maggio Law Firm has many years of experience in divorce and collaborative law. Irvine divorce attorney Gerald Maggio is known for his legal expertise and helping clients with all the difficult issues that are raised in a divorce. Maggio is active in the Orange County Bar Association, Los Angeles County Bar Association, the Riverside County Bar Association, the Orange County Barristers, and the Irvine Chamber of Commerce.
For more information:
The Maggio Law Firm, Inc.
www.maggiolawfirm.com
Orange County Office
8105 Irvine Center Drive, Suite 600
Irvine, CA 92618
(949) 553-0304
(949) 553-0346 Fax
Riverside Office
3750 University Avenue, Suite 670
Riverside, CA 92501
Gerald A. Maggio is an Orange
County divorce attorney, in Irvine, California. To learn more about Orange County divorce lawyer, Gerald A. Maggio, visit Maggiolawfirm.com.
Posted by: Gerald A. Maggio, Esq.
Irvine, Calif. – An astounding $19.2 billion is owed in past due child support in California, according to the state’s child support services department. California has a formula that accounts for what a parent can afford and even a debt compromise program for parents who owe monies due to welfare payments. California’s interest rate on child support owed, currently at 10 percent, is sometimes blamed for the high back pay due; but ultimately a parent must pay for the livelihood of their child.
Hefty fines and even jail time can be the consequence of not paying child support. If a parent has a valid reason why their child support should be modified, they should get legal counsel to show proof of the change in circumstances. Job layoffs, a big cut in pay, or disasters and emergencies can greatly affect a parent’s ability to pay.
“An individual must show the change has substantially affected their income, is permanent, and was not a voluntary change,” says Irvine child support attorney Gerald Maggio, of the Maggio Law Firm. “Many people wait until they are already behind to get a modification, but the minute a big change has occurred you should be getting legal counsel.”
Support orders should be reviewed every three years to account for any financial changes of the parents or needs for the child. An experienced Orange County child support attorney will ensure the accuracy of filing the modification, and sometimes even an extension is needed for a child’s schooling or medical situation. It’s important to know that child support cannot be modified retroactively, so if a parent waits too long to modify, the back pay will still be due at the different amount.
The Maggio Law Firm has a successful track record of enforcing child support orders and modifying it for clients when a big life change occurs. They are accomplished in child custody, division of property, spousal support, and many California divorce matters. Maggio is known for aggressively pursing his client’s and their child’s rights with empathy, skill, and efficiency.
For more information:
The Maggio Law Firm, Inc.
www.maggiolawfirm.com
Orange County Office
8105 Irvine Center Drive, Suite 600
Irvine, CA 92618
(949) 553-0304
(949) 553-0346 Fax
Riverside Office
3750 University Avenue, Suite 670
Riverside, CA 92501
To learn more about the Maggio Law Firm visit http://www.maggiolawfirm.com/.
Posted by: Gerald A. Maggio, Esq.
Parenting time is one of the hardest agreements to agree on during a divorce. Many parents feel they are the best parent for the child and deserve to spend holidays, vacations and quality time with each other. But in family law, the courts look to the best interests of the child, not the parent. Each parent must step away from focusing on himself or herself to determine what the child deserves.
The court will approve a parenting agreement that lets the child equitably have a relationship with each parent, unless there is concern for the child’s safety and wellbeing. But oftentimes long after the agreement is approved and the child has been shuttled between both parents, a conflict arises. How each parent treats the other parent can play a huge role on how the child perceives the split parenting time.
“Somehow, children get the message that going to the other parent’s house after a separation or divorce is optional,” says Esq. Bill Eddy of the High Conflict Institute. “If you give them a choice and imply it will be a negative experience, any healthy child is going to want to avoid it. Since children have so few options in their lives, if you give them an option to avoid something negative, they will avoid it.”
Eddy recommends focusing on how you speak to your child to make the transition from one parent to another. Instead of “You have to go” or “Your dad or the court is forcing you to go”, say “I expect you to go see your dad”. Expect is a much more positive word than the perception of conflict that a child will create if they hear the word force. It’s much like forcing your child to eat broccoli or brush his teeth; kids do not want to be pushed into anything.
“When given a choice, many children who live in two households would rather stay where they are at the moment,” said Eddy. “It doesn’t mean that they don’t want to see their Mom or Dad, it just means that they don’t want to stop what they’re doing, get up, pack up, and go somewhere else. Once they get to the other house, they act just the same way. Don’t take it personally: most of the time children just prefer where they are and what they’re doing. They live in the present.”
Equally as important is how each parent converses with each other. Arguments and fights can cause confusion, resistance, and abnormal behaviors from a child. Kids mimic their parents, often without knowing why, so many family therapists recommend treating your ex as if it is a business partnership. The goal of the “business” should be your child’s wellbeing. Speak to your ex like you would a colleague with neutral, respectful, diplomatic language. Children who can have a regular schedule with each parent and similar rules at each household will greatly benefit mentally and socially from a consistent routine. Everything doesn’t have to be the same at each household, but parents should work to agree on important things like homework, bedtime, activities, and big decisions involving medical and education needs.
In California, Riverside family law attorney Gerald Maggio helps individuals create a parenting agreement that the courts will approve and benefits the child. The Maggio Law Firm is experienced in joint custody matters, child support, and can help modify the parenting agreement should a change be needed years after a divorce.
Gerald A. Maggio is an Orange
County divorce attorney, in Irvine, California. To learn more about Orange County divorce lawyer, Gerald A. Maggio, visit Maggiolawfirm.com.
Posted by: Gerald A. Maggio, Esq.
Couples who are in a committed relationship but not married should register as domestic partners in California to get the benefits of certain legal protections. After registering, it is recommended to create a cohabitation agreement with a family law attorney’s expertise to define property rights, finances, parental rights and responsibilities, and even estate planning. The American Academy of Matrimonial Lawyers has seen a big increase of cohabitation agreements in 2011 for unmarried heterosexual couples and same-sex partners too, as California is still in a legal battle over gay marriage.
Cohabitation agreements cover the consequences if the partnership were to dissolve in the future so that each person has a clear understanding of their rights. These agreements are much like prenuptial agreements that give each party peace of mind that their priorities are addressed.
“Many couples decide to live with each other before diving into marriage, yet want to have an agreement that shows their commitment to their partner and protects each others assets,” said Riverside domestic partnership attorney Gerald Maggio, of the Maggio Law Firm.
Registration as a domestic partnership allows another partner the right to:
• Have coverage on the other partner’s health insurance plan
• Take family leave if a partner is sick, make medical decisions and have hospital visitation rights
• Enroll the partner in disability benefits should this occur
• Be the appointed conservator if their partner becomes incapacitated
• Take bereavement leave
• Rent control benefits, unemployment benefits
• Adopt each other’s children
Through California’s Separation Equity Act passed in late 2010, if a same-sex couple dissolves their domestic partnership or civil marriage, there is now a simpler form and process to do so. This act also holds for same-sex couples that were legally married outside of California to have the same rights to dissolve those marriages in California, too.
At the Maggio Law Firm, they have many years of experience helping couples register for domestic partnerships and create cohabitation agreements. They can also step in should the partnership be dissolved amicably, or contentiously due to domestic violence or other wrongdoing. In Riverside County, Attorney Gerald Maggio stays abreast of all the latest legal developments for domestic partners and tailors his strategy to meet every client’s best interests.
For more information:
The Maggio Law Firm, Inc.
www.maggiolawfirm.com
Orange County Office
8105 Irvine Center Drive, Suite 600
Irvine, CA 92618
(949) 553-0304
(949) 553-0346 Fax
Riverside Office
3750 University Avenue, Suite 670
Riverside, CA 92501
To learn more about the Maggio Law Firm visit http://www.maggiolawfirm.com/.
Posted by: Gerald A. Maggio, Esq.
Dividing a business during a divorce can be an extremely difficult and stressful process. Unless there is a prenuptial agreement that clearly divides the ownership interests or the two individuals still want to be business partners, expert legal counsel is needed to keep the business assets safe. Most individuals choose to buy out the portion of the ownership interest from the spouse that does not want to continue the business. It is rare for the two to stay together in business if they cannot keep the marriage intact.
A good approach is to have a divorce team with your divorce attorney and a financial advisor assessing the best route to get the other spouse out of the business. The buy out strategy can include:
• Using a marital asset such as real estate, stocks, retirement funds, or cash
• A property settlement note that allows for a longer buyout of the amount owed with interest
• An Employee Stock Ownership Plan (ESOP) to generate funds by selling ownership interest to employees
• Selling the business and dividing the proceeds
ESOPs can work well if a business is worth more than $5 million. ESOPs are complex but they are tax deductible, so it can become a better scenario for your business. And since employees receive a small interest in the business, they typically become more engaged employees because they want the business to succeed even more.
An ESOP is controlled with a trust fund and a trustee, and the employees are the financial beneficiaries of it. The business makes tax deductible cash contributions to the ESOP and then the trust funds buys ownership interests based upon current values. Each employee gets a small interest annually and can cash in their portion when they leave or retire from the business. Interestingly, ESOP businesses are shown to grow eight to 11 percent faster than normal businesses, according to the National Center for Employee Ownership. Quicker growth equals a bigger increase in value. Thus, ESOPs can be the best route if the business forecasts growth and profits and values its employees as an integral part of the operation.
What’s more common, though, is that the business must be sold outright as a large portion of the assets are tied up in the company. This can be an excruciating process as it will leave one or more spouse without work, and the court must approve the value of the business for sale. The court will analyze the opinion of value from appraisers and accountants.
No matter which route is best, both sides need proper legal representation. Most likely one spouse will have to pay child or spousal support, so adding in the division of a business can create a financial hardship. Both spouses can benefit from mediation or a collaborative divorce to mutually work through the issues with their attorneys and accountants.
The Maggio Law Firm has many years of experience in divorce and the division of assets. Orange County Divorce Attorney Gerald Maggio is known for his legal expertise and giving clients compassionate guidance through the maze of issues that are raised in a divorce. Maggio is active in the Orange County Bar Association, Los Angeles County Bar Association, the Riverside County Bar Association, the Orange County Barristers, and the Irvine Chamber of Commerce.
For more information:
The Maggio Law Firm, Inc.
www.maggiolawfirm.com
Orange County Office
8105 Irvine Center Drive, Suite 600
Irvine, CA 92618
(949) 553-0304
(949) 553-0346 Fax
Riverside Office
3750 University Avenue, Suite 670
Riverside, CA 92501
Gerald A. Maggio is an Orange
County divorce attorney, in Irvine, California. To learn more about Orange County divorce lawyer, Gerald A. Maggio, visit Maggiolawfirm.com.
Posted by: Gerald A. Maggio, Esq.
Irvine, Calif. – The recent child custody battle between NBA Star Dwayne Wade and his ex-wife shows fathers who are doing the right thing – standing up for their kids and their rights as a father – can end up with a positive outcome.
Dwayne Wade was granted with sole custody of his three-year-old and eight-year-old son. Most states recognize the value a father has in his child’s life and there are many resources to assist dads who are dealing with a difficult divorce.
Good legal counsel is recommended to protect a father’s rights in a child custody case. If a father and the soon-to-be ex-wife can create a custody agreement through mediation, the divorce proceedings will go much smoother. But if there is no ability to agree, an experienced child custody attorney is crucial.
When sole custody is granted, a dad will have the child most of the time and the mother will have a set number of visits. If joint custody is granted, the child will get equal time with each parent. Parenting agreements will go over the schedules to give each child ample time to be with their dad and mom.
Dads will want to show the strong bond the child has with them, and any evidence of the big role they play in a child’s development is helpful to the court. According to the National Fatherhood Initiative, 24 million children live without their biological father and are more apt to “engage in risky behaviors, suffer from emotional and behavioral issues, drop out of school, and live in poverty.”
The role a father has in their child’s life is immense. As the National Fatherhood Initiative’s president Roland Warren says, “If you take the time to love, laugh, look, listen, and leave a legacy, you will connect with your kids and be the dad they need and want you to be.”
An experienced attorney will help a dad ensure the parenting agreement is realistic and keeps the child needs as priority number one. “It is so important to maintain the child-parent relationship to keep building a strong bond in the future,” said Irvine child custody attorney Gerald Maggio.
The Maggio Law Firm champions a dad’s rights with compassion, experience, and tenacity. Their lead attorney Gerald Maggio will go after the best possible custody arrangement for your situation.
To learn more about the Maggio Law Firm visit http://www.maggiolawfirm.com/.
Posted by: Gerald A. Maggio, Esq.
Riverside, Calif. – With the biggest wedding months of the year coming up, it is wise to get finances and important decisions spelled out in a prenuptial agreement.
Some couples cringe at the word prenup, but an individual really needs to have the division of assets and debts defined should death or divorce ever happen. The prenup, also known as the premarital agreement, will describe how particular assets such as a home, business, or property will be owned. With couples who are getting married for the second time or more, or getting married at an older age, separate investments or business assets might want to be safeguarded from the new spouse.
“The prenuptial is a really honest conversation about how finances, assets and a spouse’s well-being will be accommodated during and after the marriage,” said Riverside prenuptial agreement attorney Gerald Maggio. “The agreement is like an insurance policy and is in place to protect both spouses.”
Each party gets seven days to review the prenuptial agreement before signing it and is recommended to have their own attorney represent them. Also, if one individual does not speak English as a primary language, the prenup should be translated to ensure it is understood and agreed to. The American Academy of Matrimonial Lawyers reported 73 percent of divorce lawyers had an increase in demand for prenuptial agreements during the last five years. The rise can be attributed to kids growing up in divorced households and the engaged couple wanting to make sure everything is in writing.
Every 10 years, married couples should review the prenuptial to see that it is still relevant. Sometimes post-nuptial agreements long after the marriage occurred can be helpful if one individual starts a company or makes investments that should be separated from the marital property. The same is true if a large inheritance is about to happen. Sometimes couples who have grown apart will use the postnup to reconcile with specific conditions or they will agree to postpone a divorce until the kids go to college or another big event occurs.
“We help show engaged couples all their rights and responsibilities for the marriage,” Maggio said. “So many people find it to be a beneficial experience and document that is there only if they need it.”
The Maggio Law Firm listens to their client’s needs and will go after their best interests. They will help the engaged couple toward their exciting future together with the best preparation and planning.
To learn more about the Maggio Law Firm visit http://www.maggiolawfirm.com/.
Posted by: Gerald A. Maggio, Esq.
Riverside, Calif. – So many couples in California that get divorced oftentimes forget the importance of a temporary order. The typical scenario involves one spouse rushing to get a new living arrangement, throwing all their credit cards and important belongings into some boxes, and getting frustrated about subsequent phone calls about the kids and assets. When a divorce is imminent, it is recommended for an individual to have legal representation and establish a temporary order or agreement to define the immediate priorities as the split happens.
“If one spouse were to move out of the house and has more income and the other spouse is left to take care of the kids and major bills, what would you do?” asked Irvine divorce lawyer Gerald Maggio. “A temporary order will set decisions on the major priorities that have to be discussed before something bad could occur.”
Every temporary order can detail what is important to each spouse. Immediate needs might include orders that:
- prevent charging credit against a spouse or big expenses without written notice
- prevent the sale, transfer, exchange, or borrowing of money against property
- prevent changes in insurance, including modifying the beneficiary, failure to pay the premium, cashing out or borrowing, exchanging, or cancelling it
- define the custody and visitation schedule as well as child or spousal support
- define that the other spouse cannot take children out of a certain local or regional area without consent from the other parent
- outline who gets vital property, such as a car or house
- implement restraining orders when needed
These orders are a bare minimum that will be added to or refined pending the final outcome of the divorce proceedings. The temporary agreement will be submitted to the court after all appropriate signatures are done and give each spouse a clear understanding and set a precedent for the actual divorce.
“A good divorce attorney will help a client weigh the risks, benefits and costs of the temporary order,” Maggio said. “You won’t get everything as you want it – no one ever does in a divorce – but we will fight to uphold your rights.”
Individuals seeking a divorce have sought the Maggio Law Firm’s experienced attorneys to help with temporary orders, divorce summons, and all the steps involved with a dissolution of marriage. The firm’s knowledge and empathy guides clients confidently through the legal maze of divorce issues.
For more information:
The Maggio Law Firm, Inc.
www.maggiolawfirm.com
Orange County Office
8105 Irvine Center Drive, Suite 600
Irvine, CA 92618
(949) 553-0304
(949) 553-0346 Fax
Riverside Office
3750 University Avenue, Suite 670
Riverside, CA 92501
Posted by: Gerald A. Maggio, Esq.
Divorces typically are all about the two adults who can no longer get along and who deserves what assets, property, and privileges. Even though each spouse might equally love the children, oftentimes divorce can bring out the worst behaviors in a parent. Before, during, and after the divorce proceedings it is critical to focus on a healthy and nurturing environment for the kids; otherwise, the negativity can have big consequences on their livelihood.
“Children tend not to tell you when they are angry, resentful, confused, hurt or depressed,” said author Rosaling Sedacca in her book How Do I Tell the Kids…about the Divorce? “Instead kids reflect their problems through their behavior – acting out or perhaps turning inward in ways that you have not experienced prior to the divorce. Take time to see the world through your children’s eyes and you will be better able to meet their needs, understand their confusion or aggression and find appropriate ways to dissolve tension through your conversation and caring behaviors.”
Parental behavior that involves negatively talking about one parent, missing or cutting into the other’s parenting time, or concealing the truth can wreak havoc on a child’s emotional wellbeing and alter their perceptions of how they should act. Children who watch parents say cruel things, lie, and seek revenge can end up being rude, hostile, dishonest, and hold grudges or worse.
Many child psychologists promote that parents must set aside whatever ill will they have towards their ex to effectively be a good parent. Yes, this will involve a daily focus to accept the child custody and shared parenting time. Halting the negative words and interacting proactively with your ex will show that people can be their own individuals and be courteous yet have their boundaries.
Divorce law and child custody agreements are all about the best interests of the children, so the earlier an individual focuses on this fact and has a good child custody attorney by their side will bring about faster and fair results. From visitation and shared parenting rights, to adequate child support and enforcement, a skilled child custody attorney will address all the factors needed for the children.
A schedule must be created so that each child will get to enjoy a normal schedule with each parent as well as specific holidays, vacations, birthdays, and special cultural and religious days. Patience, tolerance and communication are critical to make the schedule work and ensure that the kids are benefitting from it. The agreement will also detail decisions regarding medical, education, religious, and any other special considerations for the children.
In California, Riverside child custody attorney Gerald Maggio helps individuals define a reasonable parenting agreement that will help the child and parents create a healthy, supportive environment. The Maggio Law Firm is experienced in child custody, child support and all divorce matters and strives for the best outcome to maintain and preserve the parent-child relationship.
For more information:
The Maggio Law Firm, Inc.
www.maggiolawfirm.com
Orange County Office
8105 Irvine Center Drive, Suite 600
Irvine, CA 92618
(949) 553-0304
(949) 553-0346 Fax
Riverside Office
3750 University Avenue, Suite 670
Riverside, CA 92501
