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Hidden assets of concern in some divorces

While divorce can already be emotional and confusing enough, spouses should also be on the lookout for hidden assets. Often, when assets are being hidden, it is in an attempt for one spouse to not have to pay as much in child support or alimony.

Many times, when one spouse is hiding assets there are telltale signs. Like the husband will insist that an attorney isn't necessary for the divorce process. Add to this if he happens to be self-employed and this should be a red flag that something doesn't seem right. In fact, the real reason behind him not wanting an attorney to be involved could be out of fear that hidden income will be found.

With income differences more women paying alimony

It appears the tables have turned with more women in the U.S. being forced to pay their ex-husbands alimony. And just the same as how many men will complain about having to pay spousal support, many women are also not pleased about having to write their ex-spouses checks every month.

According to the American Academy of Matrimonial Lawyers, close to half of the divorce attorneys who were surveyed in the U.S. reported seeing more women being ordered to pay alimony to an ex-spouse. Additionally, another 56 percent reported seeing an increase in women paying child support.

Father could face two years in prison for unpaid child support

In Nevada, determining how much one parent should be paying to a custodial parent in child support is a pretty straightforward process where the judge uses a formula set forth by the law. This formula takes into account a number of factors, including how much each parent earns annually in income.

Across the country, this is also pretty much the standard. And, once the child support amount is set -- unless there is a child support modification made to the existing order -- choosing to pay is not discretionary. Rather, it is a court-ordered agreement. Failure to pay can result having to pay back child support, fines and even jail time.

Reality TV host to go through divorce in community property state

Nevada is a community property state, which means that all of the assets that a couple acquires during marriage are owned equally. And while property division can be difficult and contentious in any divorce, for those living in a community property state it can be especially difficult as one spouse could feel like he or she is being cheated with a 50/50 split.

Recently, it was made public that the host of "The Bachelor," Chris Harrison, and his wife, filed for a divorce. The couple has been together for 18 years. They live in a community property state.

Tips on explaining divorce to children

While explaining an impending divorce to children is difficult, it is something that has to be done. However, the way that parents approach the topic of divorce can make a world of difference and can help the entire family with the transitioning process.

The first thing to keep in mind is that saying negative comments about the other parent is hurtful to children and can even lead to children thinking negatively about themselves. For example, since children still love their other parent, the kids could end up thinking something is inherently wrong with them for still continuing to love both mom and dad. This in turn can end up hurting the relationship between the parent making negative statements and the children.

Postnuptial agreements provide asset protection in divorce

In the past we've posted about the importance of couples having prenuptial agreements before getting married. However, this is not the only preventative measure that can be taken to protect assets in the case of divorce, as spouses who are married now can create postnuptial agreements.

In general, some look at postnuptial agreements as "divorce planning." And while in some cases this might be true, in others, creating these agreements can actually be a bonding experience that merely makes sure both spouses are protected if there were ever a split.

Divorcing parents should plan for children's college

When a couple splits, they often consider the value of their personal assets such as homes, bank accounts and other holdings. However, when going through a divorce it is also equally as important to create a plan for just how children's future college education and related expenses are going to be paid for.

Experts say that clearly defining those responsibilities in the divorce decree can prevent confusion later on down the road. Vague language will only lead to confusion when it's time for the child to attend school, which is why it's important to have everything stated, like what percentage each is going to pay for college tuition, room and board and any application fees.

"Dog Whisperer" to pay $23,000 a month in alimony

When a couple is married, it is not unheard of for one spouse to be dependent on the other financially. This could be due to one spouse not working while married, or there just being differences in income. In these types of situations, it is quite common for alimony, also known as spousal support, to be a factor in divorce.

It was announced recently that Cesar Millan, who is known as the "Dog Whisperer," and his wife of 18 years, Illusion, were officially divorced. Along with no longer being legally married, it turns out Millan has agreed to make rather hefty monthly payments in alimony and child support.

Adoption process can be time-consuming and complicated

While adoption is a wonderful way for a person to grow their family, the truth is that the actual process can be time-consuming and complicated. And while a person may think he or she knows the entire process, the truth is that unforeseen bumps can happen along the way.

Recently, "Law & Order: SVU" star Mariska Hargitay appeared on "The Ellen DeGeneres Show" to explain her family's recent adoptions.

Studies look at predictors of divorce

It turns out that even though a couple may be happy in the beginning of their marriage, interpersonal issues can still exist at the same time as that happiness, which can end up leading to divorce later on down the road.

Recently, a study looked at 136 couples who all reported being happy in their marriage for the first four years. After those four years, researchers periodically questioned the spouses over a 10 year time period on questions related to marriage satisfaction, stress levels, personality traits and their level of support for their husband or wife.

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Pecos Law Group

Pecos Law Group
8925 South Pecos Road, Suite 14A
Henderson, NV 89074

Tel: 888-368-2875
702-487-7548
Fax: 702-388-7406

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