Power of attorney is a document that allows you to name someone else to manage your financial matters. Although many people have heard of power of attorney before, there are several common misconceptions about how it works.
Three common misconceptions about financial power of attorney
Should you keep your dog after the divorce?
Recently, California changed the proceedings for divorcing pet owners by passing Assembly Bill 2274. Whereas the state before treated dogs and cats as part of the assets divided between the two parties, it now authorizes the court to assign sole or joint ownership of the animal after considering several factors between both parents. Essentially, pet custody just became more like child custody.
As the state now recognizes the importance of divorcee pet ownership in the courtroom, it is time for you to do so as well. You must consider if fighting for your dog in the proceedings is worth the time and the impact having one would take after your separation is finalized. To do so, you have to see which advantages on which side would ultimately be more beneficial for your immediate and far future.
How to reach an agreement on property division during a divorce
The decision to get a divorce is usually not easy. You pledged to spend your life together, and now you must decide who gets the TV and the treadmill. Worrying about who gets what may seem trivial when you are going through such an emotionally traumatic experience.
However, dividing assets can be one of the most contentious processes during a divorce. You might feel like you are entitled to a large spousal support payment, or your soon-to-be ex may decide he or she wants the house. Stuff can be a lot more than just stuff when you are going through a divorce.
Modifying a will after a divorce
Getting divorced is the last thing you ever thought you would be doing. But, unfortunately, that is your new reality. You have overcome many challenges that come along with being divorced and you find yourself on the other side. Now, you have an abundance of new questions that need to be answered. What happens after my divorce?
There are a number of documents that need to be changed after your divorce, including documents where you named your former spouse as a beneficiary. These include:
Think your estate plan is up-to-date? Don’t be too sure
If you’ve created an estate plan, you’re already one step ahead of the game - - but you aren’t out of the woods just yet.
A comprehensive estate plan is a vehicle that can help transfer assets and debts upon your passing. As with any vehicle, your estate plan will require maintenance to keep it functioning properly.
Six important steps to take before a divorce
No one wants an ugly or complicated divorce. By taking the time to gather the information your lawyer needs before you start divorce proceedings, you may be able to reduce stress, save money and help ensure a smooth process for you and your family.