Attorney At Law
My clients are often surprised when I tell them that their retirement assets may be considered marital property. If you accumulated the funds during your marriage, they may be divided as part of your divorce. However, you may have other marital assets to divide as well. All of your marital property will be taken into account when deciding how to deal with your retirement plans.
When you and your spouse make the decision to separate and/or divorce in DC, if you have children, their welfare is one of your major concerns.
If you choose to resolve things amicably, hopefully, this will lead to a negotiated DC Separation Agreement. You can tailor specific provisions in your Agreement to determine custody and separate access schedules so that both you and your spouse will have regular access/visitation time with your children.
Moving forward and getting beyond the difficulties and resentments between you and your spouse so you can focus on the best interests of your children can be very emotionally challenging.
I am asked often, “Will I be able to pay my own bills along with paying child support?”
In DC child support is determined by applying a child support guideline that takes a number of factors into account when determining the appropriate amount of child support that should be paid.
The guideline was designed so that both parents share the responsibility for the support of their child or children.
Even if you and your spouse agree on how to settle all the issues in your marriage, it is still very important that you be aware of all of your rights in order to protect yourself in the future.
It is best to have an attorney advise you as you negotiate a settlement with your spouse or have an experienced DC divorce lawyer negotiate a settlement on your behalf. It is in your best interest to have an attorney draft a Separation Agreement for you.
This will help you in the future because you will then be sure that all issues are taken care of and that nothing will crop up in the future that will cause disagreements between you and your spouse.
Whether you call it a Prenuptial Agreement, a Prenup, or a Premarital Agreement, it is a contract between you and your future spouse that determines your financial rights and obligations if your marriage ends as a result of divorce or death.
Talking about a DC Prenuptial Agreement helps you and your fiancé openly discuss how you and your fiancé will handle your finances during your marriage.
It is best to discuss these issues as far in advance of your wedding as possible. You do not want to talk about who pays for what and who will have ownership of which bank account when it is time to discuss the menu for your wedding day.
If you decide that it is too close to your wedding date to start the conversation about a Prenuptial Agreement, you can wait and agree to work on a Postnuptial Agreement. It is a similar document that is signed after you are married.
A concern for anyone going through a separation or divorce is how the property, bank accounts, and other assets you have will be divided when you separate. The first step in the process is figuring out whether the property you have is marital property or separate property.
Marital property in a DC divorce usually includes the assets and debts you acquire during your marriage — it does not matter how something is titled.
If it is a debt accumulated during the marriage, it will be considered marital debt. An example of marital property in DC that surprises many people is a retirement account that is separately titled. The portion of the retirement funds that accumulated during the marriage will be considered marital property.
The procedure for a same-sex divorce in DC is the same as for any divorce in DC. If there are any issues to be resolved such as division of property or other marital assets, custody, division of debts, etc., it is best to have a DC divorce lawyer draft a Marital Settlement Agreement to protect you.
Many people ask me whether they need a Legal Separation. It is important to understand what a Legal Separation is before you decide if it is necessary.
The main difference between a Legal Separation and a Divorce is that when the proceeding is over, you will still be married to your spouse.
A Legal Separation is a court proceeding but it does not dissolve your marriage. Only a divorce ends your marriage and gives you the freedom to remarry. You are not free to remarry if you are legally separated.
A Prenuptial Agreement is a contract between you and your future spouse that determines your financial rights and obligations if your marriage ends as a result of divorce or death. It is also a useful tool for creating a financial plan to use during your marriage.
You can make agreements regarding how to handle your finances during your marriage and create peace of mind for each of you so you can avoid disputes.
Every situation is unique and it is best to have an experienced DC family law attorney to help you through the process.
Usually, people think about this option because they are hoping to save money.
While there is no legal requirement that you have a lawyer, it is important to consider that when you sign an Agreement you are legally binding yourself to the terms.
It is extremely important to understand the issues that should be included in a Separation Agreement and to understand exactly what you are agreeing to.
It is very difficult to use a generic Agreement without understanding all the issues that must be resolved when you end your marriage.