Entries Tagged as 'Divorce Settlement'

What is a Successful Divorce?

In my previous post, I discussed the difficulty in gauging a win or loss in divorce. Most people feel that there are never any winners in any divorce and mostly everyone loses, no matter the outcome. But, there are some ways to make any divorce a little easier.

Approach the divorce from a logical perspective.

It is often the emotion — hurt feeling and unmet expectations — that cause people to have difficult and messy divorces. Obviously, some divorces have issues that must be fleshed out and will be messy out of necessity. But other divorces can be made much easier if both parties can set their emotions aside and approach the issues involved in accomplishing the divorce from a logical perspective. Separate the causes of the divorce — who did what that made the divorce happen — from the issues such as division of property or sharing parenting responsiblities.

Shift your perspective from one of spouses to one of business partners.

You may no longer be able to have a loving, married relationship, but, if you have children, you will continue to be partners well into the future. After the marriage ends, approach your relationship with your ex-spouse as if you were in the business of raising children. Ignore things that do not directly relate to that business and focus on the task at hand. There will be many issues that need your cooperation, from discipline, dating and driving, to report cards, curfews, and colleges.

Educate yourself on your assets and debts.

Knowledge is empowering. No matter whether your marital estate is small or large, negative or positive, knowing the nature of your assets and debts will help you make smart decisions about a fair division. Each spouse may have different interests in what property and debts they have after the divorce. One spouse may value retirement assets more highly, where the other spouse may want disposable cash assets now. One spouse may be more interested in maintaining the house, and the other spouse may be more interested in taking a business interest.

Look at the divorce from the other spouse’s perspectivie.

Evaluate what interests your spouse may have in the divorce. Seeing things from a different perspective can provide a broader insight to creative solutions. Often, by seeing things through the other spouse’s eyes, you find that both have the same ultimate goal. Maybe both share a common goal of providing for the children’s college education — this can provide common ground for negotiation.

For assistance with your divorce in North Texas – Dallas, Collin, Denton, and Tarrant Counties — call The May Firm and schedule an appointment to discuss how we may be of assistance to you.

Divorce Advice from Hip Hop Artist

Kanye West, Hip Hop superstar and Grammy winner, gives advice to people wanting to get married: “If you aint no punk holla We Want Prenup, WE WANT PRENUP! Yeaah! It’s something that you need to have…” (From “Gold Digger” off of the Late Registration album (Roc-A-Fella/Def Jam 2005)) In other words, he recommends that everyone should get a prenup before getting married.

Jessica Simpson didn’t listen to this advice when she married Nick Lachey without a prenup.

But, Britney Spears did heed the warning. Apparently Britney even staged a fake wedding because Federline hadn’t signed the prenup in time. Britney’s prenup gave K-Fed $250,000 for each year of the marriage, which is rumored to have been increased to $500,000 per year during settlement negotiations.

Some celebrity prenups go far beyond the standard identification of assets owned before the marriage and what each party leaves the marriage with, including clauses like:

* Limiting the wife’s weight to 120 pounds or she must relinquish $100,000 of her separate property.

* Allowing a spouse to perform random drug tests, with financial penalties for positive results.

* Requiring a husband to pay $10,000 each time he is rude to his wife’s parents.

Infidelity clauses are common, where a spouse gets paid if the other is unfaithful. Michael Douglas agreed to pay Catherine Zeta-Jones millions should he stray, and Denise Richards made similar requirements of Charlie Sheen.

Custody of pets is another common concern, especially since most divorce courts will treat the pets like an item of property.

However, prenups are important for almost everyone planning to get married, regardless of celebrity status. A prenup can be as simple as defining who has what at the time of the marriage. It can also address how property acquired during the marriage will be treated upon divorce, which spouse will be responsible for payment of the marital obligations, and how the property will be distributed upon death of one of the spouses.

For assistance with a prenup or marital property agreement, please contact The May Firm for an appointment. But, don’t wait until the last minute, as prenups require plenty of planning and discussion.

Texas Divorce Newsletter 1/1/2008

Welcome to The May Firm Newsletter!

As a service to our clients, we at The May Firm and Divorce Magazine are pleased to provide you with this monthly e-newsletter and hope that the information and articles contained within are helpful, supportive, and entertaining. Michelle May O’Neil is nationally recognized as a leader in family law. Her firm emphasizes high-quality representation in family-law matters, with a particular emphasis on child-custody disputes, complex marital-property litigation, and appeals of family-law matters.

Further reading: Dallas Divorce Attorney

To subscribe to receive our Newsletter via email, contact us here.

Useful Articles:
1. CHILD CUSTODY: Using special masters to resolve post-divorce conflicts
2. BUSINESS VALUATION: The goodwill conundrum solving the puzzle of goodwill can be difficult
3. CHILDREN AND DIVORCE: Learning to co-operate
4. DIVORCE LAWYERS: A perfect fit
5. DIVORCE RECOVERY: An extraordinary life
6. DIVORCE SETTLEMENT/PREPARATION: Are you really ready for divorce?

1. CHILD CUSTODY
Using special masters to resolve post-divorce conflicts
What Qualifications Does a Special Master Need?
http://www.divorcemag.com/c/s3/?Child_Custody/special_masters.html

2. BUSINESS VALUATION
The goodwill conundrum solving the puzzle of goodwill can be difficult
While most of us would say we know what goodwill is, few would be able to define it in a useful way for business valuation purposes
http://www.divorcemag.com/c/s3/?Business_Valuation/goodwill_conundrum.html
3. CHILDREN AND DIVORCE
Learning to co-operate
If you have children together, you must learn to cooperate with your ex; the marriage may be over, but your parenting relationship will last forever.
http://www.divorcemag.com/c/s3/?Children_and_Divorce/learningtocooperate.html
4. DIVORCE LAWYERS
A perfect fit
How to find a lawyer tailor-made to suit your unique needs.
http://www.divorcemag.com/c/s3/?Divorce_Lawyers/perfect_fit.html

5. DIVORCE RECOVERY
An extraordinary life
An exclusive interview with Debbie Ford, the best-selling author of life-changing books such as Spiritual Divorce: Divorce as a Catalyst for an Extraordinary Life; The Secret of the Shadow: The Power of Owning Your Whole Story; and The Right Questions: Ten Essential Questions to Guide You to an Extraordinary Life.