Why Your Financial Specialist Should Be Independent
Over the years, matrimonial lawyers everywhere have increasingly embraced the concept of working with experienced, credentialed professionals who specialize in the financial aspects of divorce. Originally, most of these specialists were Certified Public Accountants and the work was mainly of a forensic nature. Recently, however, we have seen an increase in the involvement of professionals whose background is in the financial planning arena. Today, among other tasks, the planner is often retained to examine the longer-term impact of settlements and answer the client's question: 'Will I be okay financially?'
Litigation
Recent rulings of interest to you and your practice.
The Role of Existing Insurance Trusts in Divorce
Life insurance is a common issue addressed in a substantial proportion of divorces. For many clients, especially those of greater economic means, existing insurance coverage is owned by irrevocable life insurance trusts ('ILIT'). Existing ILIT arrangements too often receive inadequate attention during the course of a divorce as a result of the focus on other more significant issues, or the presumption that since the ILIT is 'irrevocable,' it cannot be tailored to address the post-divorce insurance needs. This can be a considerable mistake. In many cases, because it is assumed that an existing ILIT cannot be changed, the insurance requirements resulting from the divorce are separately addressed in a property settlement agreement ('PSA').
The False Promise of Parenting Coordination
In a three-part series in The Matrimonial Strategist (appearing in March, 2006, June, 2006, and March, 2007), Curtis Romanowski, a member of this newsletter's Board of Editors, described and promoted parenting coordination 'as a means for dealing with high conflict families involved in domestic relations proceedings before courts.' I applaud the efforts of those who have devoted significant time, energy, and, in some cases, funds, to trying to find ways in which to assist families in the difficult process of post-divorce adjustment, but parenting coordination has drawbacks that must be constructively addressed.
Taking the Fifth: Pros and Cons
Every divorce lawyer has been in this situation: You are taking a deposition or examining a witness on the stand. You begin to get into sensitive subject matter, such as adultery, failure to report income, wiretapping or other miscellaneous criminal activities. The other lawyer objects. We all know that the privilege against self-incrimination applies even in civil cases such as divorce. So, you are not going to get an admission into evidence. Many practitioners do not realize, however, that they have some recourse.
'Help, I Need an Attorney'
So much is written in our pages about how to capture the ideal client. About how to market to that client, how to win his or her business and, if that client represents a business in turn, how to win and keep that business too. It's a worthy ideal, especially in today's competitive law environment. All you have to do is pick up any copy of Marketing the Law Firm and our nationally known experts will'
Litigation
Recent rulings of interest to you and your practice.
International Child Visitation
How can one parent stop the other parent from taking a child to visit a dangerous country? How can a parent make sure that a child will be returned if the other parent takes the child to visit his or her native country? Many international parents are becoming increasingly concerned about the answers to these questions. Here are Ten Key Tips for Parents that have been developed as a result of handling these issues on a regular basis in collaboration with local family lawyers across the country.
Marital Fault and Alimony
Fault-based divorces have fallen into ill favor and disrepute in most jurisdictions in the United States, thus reflecting the changing social attitudes toward gender roles. As a result, many jurisdictions have adopted 'no-fault' grounds for divorce, making divorce a generally less acrimonious event. But jurisdictions across the United States have maintained a split in how they have handled the concept of fault and alimony determinations. Currently, only 20 states do not consider the concept of fault or marital misconduct when making alimony determinations. Contrary to same, 22 states continue to allow consideration of fault when determining alimony awards.
