The longer you wait to divorce, though, the harder it gets. Many couples in their 50s and beyond are getting divorced. These are called gray divorces and their rates are growing. That’s because people are living longer. They want to enjoy life and not sit around at home with a person they can’t stand to be around anymore.

A gray divorce may seem easier in some ways. You’re waiting until the kids are grown and moved out of the house. You likely have more assets to split by then.

As you near retirement age, though, there are concerns about money. You’ll have to split up everything. Will you have enough to retire? Will you have to keep working for a while?

There are a lot of things to think about as you deal with a divorce later in life. There are money issues. There are relationship issues. You still need to think about the future, as you could possibly live 20-30 more years or even more! So don’t throw in the towel just yet. Here are some tips for surviving a gray divorce.

Don’t Forget About Your Children

Many couples wait until their children are adults to get a divorce, as they assume their kids won’t be affected as much. Sure, there will be no child support or child custody issues to deal with, so it’s easier for the parents. And children won’t be shuffled from one house to another, so there is that.

However, that doesn’t mean that adult children don’t care and won’t mourn their parents’ divorce. Dealing with your parents divorcing can be heartbreaking, even if you are in your 20s, 30s, or 40s. It can be a stressful situation in many ways. The kids may be in college and depending on their parents for financial support. Or maybe they have kids of their own and have to explain why Grandma and Grandpa got divorced. Sometimes adult children get stressed out because they feel as though they have to care for both parents separately, since Mom and Dad don’t have anyone to take care of them.

In any case, be mindful that even though you may be happy about the divorce, your children may feel otherwise. Allow them to process their emotions and never force them to choose sides. Give them permission to have relationships with both parents.

Be Prepared to Adjust Your Lifestyle

In a divorce, you are splitting one household into two. This means there is less money to go around, so you will likely have to cut back. This is especially true if you are not working and have little savings.

Older women are especially vulnerable in a divorce, as they tend to earn less than men over the course of their careers. By the time they divorce, they may have very little in retirement funds. As a result, women are most likely to experience poverty in their later years.

Based on these statistics, you need to be prepared to adjust your lifestyle after a divorce. You may need to make a list of all your expenses and cut back on non-essentials. You may need to downsize. Never try to stretch yourself too thin financially. Avoid too much debt because it will be harder to pay it back as you get older.

Don’t Depend on Alimony

Many financially dependent spouses think that they will get lifetime financial support because they were married for decades. However, the length of your marriage is not the only factor in alimony cases. The main factor is that your ex-spouse will have to be able to afford to give it to you. This means that they will have to keep working. Once they reach retirement age, they may quit working. This means you will be out of luck financially because the courts are reluctant to order parties in a divorce to work past retirement years solely to pay alimony.

What this means is that spouses in gray divorces should not depend on alimony for the rest of their lives. They will need to find ways to earn their own income. This may include getting a job, investing in stocks or other investments, and drawing Social Security benefits. Keep in mind that you qualify for your ex-spouse’s benefits if you have been married for at least 10 years and divorced for two years. However, if you have also earned benefits, then keep in mind that the Social Security Administration will pay the larger of the two amounts – not both.

Consider Getting a Job

If you are already working, then a divorce late in life may force you to work a few years longer so you can save up enough money. If you’re not working, though, then you may have to go into the workforce for a while to make ends meet. Even if you are already in retirement, you may have to postpone things for a while unless you can truly get by without one. Again, you have to consider that you could be living a few more decades and you can’t necessarily rely on alimony or other benefits from your spouse. So consider a job – even a part-time one can be helpful. You can earn money, meet people, and feel useful as you get older. Many older people still work into their 70s and 80s, so don’t feel alone.

Contact Us Today

Divorces are complex. Gray divorces are even more complex because they tend to happen near retirement.
The Ohio divorce attorneys at Lawrence Law Office can help you with the financial, legal, and emotional issues you will face. Schedule a consultation today by filling out the online form or calling (614) 228-3664.

The post <strong>Tips for Getting Through a Gray Divorce</strong> appeared first on Lawrence Law Office.

These are called high asset divorces. A high asset divorce is typically one that has $1 million in liquid assets, not including real estate or closely-held businesses, although these are subject to distribution.

In any divorce, the two main issues that need to be addressed are property division and alimony. This is especially true in the context of a high-net-worth divorce. While not every spouse is entitled to alimony, it is common in high asset divorces, since there is typically one breadwinner (although both spouses could potentially be high earners). 

Ohio is an equitable distribution state, which means that the courts will attempt to divide your marital assets in a fair and equitable manner. A marital asset is any type of property that was acquired during the marriage. This could include a large number of assets, which could make a divorce of this nature extremely messy.

The good news is that you can make things easier with proper preparation. By knowing what to expect ahead of time and avoiding common mistakes, you can get through a high asset divorce with minimal conflict. Here are some tips to help you prepare for the process. 

Get a Good Idea of Your Marital Assets

It’s common in marriages with significant marital assets that only one spouse is aware of their financial situation. One spouse is commonly left in the dark. Don’t be in this situation. If you do not have complete and detailed information about your marital asset portfolio, start taking the appropriate steps now to document your financial situation.

You can start by physically documenting your assets through bank statements, sales receipts, photos of household items, and any other documentation you can find. Have financial documents on hand, including tax returns and loan documents. 

You can also hire a financial expert to help you document your marital assets. It would also be good to have a business valuation expert on hand to analyze the worth of a business and appraise any real estate, valuable art, antiques, and collectibles.

Work with your lawyer to get a comprehensive inventory of all your assets. Once you do that, your lawyer can classify each asset as community or separate property and advise you of the legal consequences of splitting the property. Sometimes it can be hard to tell if property, particularly money, is separate or marital, as funds can sometimes get commingled. A forensic accountant can help trace the origin of funds.

Look for Any Hidden Assets

Hiding assets is illegal in a divorce, but many people still do it. They may conceal property in order to keep it from getting split in a divorce. They may think their spouse will never know, but a forensic accountant can help locate missing assets. 

Signs of hidden assets include closed bank accounts, transferring assets into your children’s names, and deferring promotions or bonuses until after the divorce. If you think your spouse might be hiding assets, let your lawyer know right away.

Choose Mediation

High asset divorces don’t have to be contentious. You don’t automatically have to go to court. If you wish to resolve your divorce matters in mediation, you should certainly try to do so. Mediation can be especially helpful if children are involved. It can resolve all issues associated with a divorce, so even if your divorce is more complex, you can at least try to mediate first and see how far you go. Mediation allows you to maintain control as you resolve issues regarding asset division, alimony, child support, and child custody. Mediation can also help you save time and money.

Understand Taxes

Splitting assets often comes with tax implications, especially if you are splitting retirement accounts, real estate, and other investments. You will likely have to pay capital gains taxes when you sell assets and make a profit. This is especially common with marital homes. While you should sell your home if you don’t want it or can’t afford to keep it, you need to be prepared when tax time rolls along. 

Understand the Complexities of Child Support and Divorce

All states have guidelines for determining child support amounts in a divorce. However, this is for those who earn traditional incomes. When a person earns seven- or eight-figure incomes or has non-traditional income sources such as commissions, bonuses, and stock options, it can make things complicated. Plus, state guidelines have an upper income limit and are not designed to cover every possible financial scenario.

Also, children of wealthy families tend to have higher extraordinary expenses than other children, so that can create a lot of disagreement between divorcing parents. Therefore, courts often need to get involved to review each situation on a case-by-case basis and determine how much child support should be paid based on income and expenses for the child. 

The same applies for alimony. Alimony may not be an issue if both parties are high earners. However, if one spouse is a multi-millionaire and the other does not work or earns a much smaller income, then alimony will likely come into play. In many cases, these are paid as lump sum amounts. Many celebrities have paid out tens or even hundreds of millions in dollars to ex-spouses, so keep that in mind.

Contact Us Today

A high asset divorce is not your typical divorce. Everything is more complex and there’s a lot more at stake.

Streamline your divorce with help from the Ohio high asset divorce attorneys at Lawrence Law Office. We know the laws involved and will help you prepare, and our unique blend of business law experience and family law experience will help you avoid mistakes along the way.  To schedule a consultation, call (614) 228-3664 or fill out the online form.

The post <strong>Preparing for a High Asset Divorce</strong> appeared first on Lawrence Law Office.

There are two ways to separate in Ohio. You can get a legal separation, which is a process that is similar to a divorce, or you and your spouse can simply live apart and separate on your terms. A legal separation does not legally end a marriage in Ohio. Both parties are still considered married to each other and therefore cannot remarry. However, the court is allowed to issue orders regarding property division, alimony, and child custody. The legal steps are pretty much the same as for a divorce. When a court grants a legal separation, each party must follow the court’s orders. 

Some states actually require that you separate for a period of time before divorcing. Ohio does not require separation for no-fault divorces. You can decide you want a divorce and file for one the same day.

But while separation is not required for a divorce, some time apart may be good for both spouses. As the saying goes, absence makes the heart grow fonder. A separation can make you understand that you truly love your spouse and want to work things out. 

Is a separation right for you or should you just skip to divorce? Here are some things to consider as well as possible benefits.

Considerations

If you are interested in a separation, here are some things to consider:

• Legal requirements. Each state has different requirements for getting separations or divorces. Ohio does not have such requirements. If a couple is married, they can get a separation in Ohio.
• Emotional considerations. Divorce is often seen as a knee-jerk reaction. It also has a sense of finality to it. Once a divorce goes through the process, it ends the marriage for good. You cannot reverse it. You can remarry your spouse, but that’s about it. If you are unsure if you really want your marriage to end, then you can separate for a while and see if you have a change of heart. You may even want to seek counseling or therapy and work on the marriage.
• Financial implications. A separation can have significant financial implications because one household is becoming two. You can separate on your own and come up with some financial agreement on your own. Or you could get a legal separation and have a court decide property division, alimony, and child support.
• Practical considerations. A separation can help with logistics, such as giving a spouse time to find a new place to live or to make other necessary arrangements before the divorce is finalized.

Benefits of Separation

Separation has several benefits that divorce does not provide. They include the following:

• Keeping marital benefits. Marriage comes with various benefits. If you are separated, you are not officially divorced, which means you can keep the benefits you enjoyed during marriage. Maybe you want to stay married for religious reasons. Or maybe there’s the stigma of divorce in your community. There are also marital benefits such as tax deductions. You can still claim that you are married on your tax returns. You can also get your share of retirement plans and Social Security benefits as long as you stay married. You can also stay on your spouse’s health insurance and life insurance policies. This can save you a lot of money, as medical insurance can be expensive if bought outside of employment. 
• Chance of reconciliation. When a couple is having marital troubles, they may want to get help, but maybe divorce isn’t what they want. Some couples want an opportunity to reflect on their relationship. A legal separation allows for the couple to separate and spend time apart. Plus, a separation agreement creates obligations similar to a divorce decree. It splits property and allows for child custody and visitation rights. Couples may consider marriage counseling and see if divorce is really the right option.
• Sorting out divorce details. A divorce can put a couple under pressure. They may think they need to hurry up and make decisions, which can cause them to make poor choices. By agreeing to a separation first, couples have more time to talk about the elements of divorce and make thoughtful decisions about property division, alimony, and child custody. Once a legal separation is in place, you can decide when to divorce when you’re ready. You will already have the terms in place, so you can go through the divorce process quickly. 
• Making it easier to help children with the transition. Divorces can be emotional and if there are children involved, they can face a lot of stress. Divorces impact a child’s life in many ways. They will have to go back and forth to two homes. They may have to go to a new school and lose relationships with friends. Some children act out toward their parents and suffer from poor performance at school. They may engage in substance abuse. Children may also feel guilt, confusion, anger, depression, anxiety, fear of abandonment, and issues with future relationships. A separation gives children time to adjust to the divorce. It eases them into the new transition and allows for extra time so that children can finish the school year before the parents initiate divorce. 

Contact Us Today

While Ohio does not require you to live apart for a period of time in order to get a no-fault divorce, you may want to consider one before divorce. A separation can give you time to think about your marriage and determine if you really want a divorce. 

If you do decide to end your marriage, the Delaware, Ohio divorce attorneys at Lawrence Law Office can assist you with the process. We can resolve your family law matters with ease. Schedule a consultation today. Call our office at (614) 228-3664 or fill out the online form.

The post <strong>Should I Get a Separation Before a Divorce?</strong> appeared first on Lawrence Law Office.

A relationship can easily turn into a minefield; so can a divorce. A divorce can be a nerve-wracking process. You may have a clear plan in mind, but you never know what your spouse may do. 

While you can’t control what your spouse may do, you can control your behavior. Know that what you do or say during your divorce can make or break your situation. You will have to make a lot of decisions during the divorce process, and these decisions will not only affect you, but also your spouse, your children, and other family members as well.

Therefore, you need to think things thoroughly. While your lawyer can help you, it is ultimately up to you to make the right decisions. This may seem like a lot of pressure, but these tips can help you.

Know What You Want

This may seem easy, but the problem is that people often confuse needs and wants. Or they think that they need to get as much as they can out of the divorce out of spite or revenge. The truth is that you need to leave your emotions out of it and be practical. Instead of getting as much as you can, think about what’s important to you. 

It may be helpful to make a list of all the marital assets and decide which ones you want, which ones you need, and which ones you can do without. Whether it’s the marital home, the car, the cash, or the collectibles or heirlooms, you need to think about what’s most important to you. You should also know what your spouse wants. This will help you decide what to fight for and what you can live without.

Be Willing to Negotiate

Even if you identify what you want, you may still have to negotiate. After all, divorce is not all about you. The process requires some give and take. You and your spouse may want the same things, so be willing to compromise. If you don’t budge at all, then you’ll just make tensions worse and cause the divorce to drag on for longer. This causes things to get more expensive as well. Your best bet is to try to be amicable instead of vengeful.

Know the Law

Marriage is a legal contract. When you divorce, you break that contract. Each state has various laws involved, so be sure to know the laws for divorcing in Ohio. Of course, your attorney knows the laws, but it’s important that you have a basic knowledge of them as well so you know the process and how things work. You can do some research on your own or you can ask your lawyers questions.

What you need to know is that a divorce is essentially a lawsuit. You are suing your spouse, who is someone you once loved (and maybe still do). It can be highly emotional but at the same time, it is a serious legal battle that splits up everything between you and your spouse. Court outcomes may vary, so be sure to fight for your legal rights.

Communicate Effectively

Communication is important in a divorce. While you and your spouse may not be the best of friends (otherwise, you probably wouldn’t be getting divorced), you should still act civil toward each other. This means not yelling and badmouthing each other. Find a way to communicate that works best for you, whether it’s in person, on the phone, or via email or text. Remember, if you have children together, your spouse will still be involved in your life, so knowing how to effectively communicate your desires — or anything else for that matter — is crucial. 

Have the Right Support on Your Side

You need to have a good team that can help you with your legal and emotional matters. For the right legal support, choose an attorney who specializes in divorce and family law in general. Discuss your case with your lawyer and choose the right process,whether that means mediation or something else. 

Besides a lawyer, you also need experts to help guide you through the financial and tax aspects of divorce. An accountant or financial planner can help you manage your finances post-divorce. They can also help you understand the importance of tax planning and managing your finances as you go from married to single. 

For help with the emotional aspects of divorce, get help from friends and family. Your loved ones can offer you advice and serve as a shoulder to cry on when you need to vent. If you don’t have anyone you can trust, consider a therapist or counselor. They can give you advice so you can  deal with your emotions and move on with ease.

Focus on the Future

Nobody wants to divorce, but you can make the best of it. Try to be positive about the situation. If you have children, focus on giving them the best lives possible. If you don’t have children, focus on your interests. Set goals. Move to your dream location. Travel the world. Engage in new hobbies. Start dating again, if that’s what you want to do. There’s a wealth of opportunity out there, so take advantage of it. 

Contact Us Today

Divorce is a legal and emotional process. It’s an experience that can be filled with anger and complexities, but with the right mindset and preparations in place, you can make the process easier. 

The Columbus, Ohio divorce attorneys at Lawrence Law Office can help you simplify the process. See how our highly knowledgeable and experienced lawyers are the right fit for your case. Call (614) 228-3664 or fill out the online form to schedule a consultation.

The post <strong>How to Simplify the Divorce Process</strong> appeared first on Lawrence Law Office.

In these cases, your spouse is likely taking you for granted. When a person takes you for granted, it means that they rely on you to do everything. They expect that you will take care of all their needs. Yet they undervalue everything you do. They may withdraw from the marriage. They may become more distant and even stop listening to you when you speak. 

A person who is taken for granted is not seen by their true worth. They are not appreciated, and this can lead to a lot of problems in a marriage. A person who is taken for granted by their husband or wife will often feel a lot of resentment. This is especially true if they are the one putting a lot of time and energy into the marriage. 

Sometimes people take people for granted unconsciously, though, so it’s possible your spouse isn’t doing this on purpose. This means that your best course of action is to have a talk with your partner. Let them know how you feel. 

However, if nothing changes, then you might be at a dead end. Divorce may be on the horizon. Here are some signs that you should look for so you can nip the problem in the bud. 

Your Spouse No Longer Spends Time With You

Spouses need to spend time together in order for their marriage to survive. It’s hard for a couple to spend a lot of time together, and that’s understandable. Work, children, and other important aspects of life tend to take priority. At the end of the day, you may just want to shut your brain off and refrain from talking to or doing anything with your spouse.

While these feelings are understandable, you need to make an effort with your spouse, and they need to do the same with you. Otherwise, someone is going to feel taken for granted. 

Communication Has Become Iffy

If you and your spouse barely talk to each other anymore, then he or she may be taking you for granted. If texts and phone calls are becoming nonexistent, then something is going on. You’re stuck in a rut, and you need to make a decision. Deal with it and work on your communication or walk away before it affects your self-esteem. 

You’re Not Satisfied With the Sex

Sex should be about the wants and needs of both parties. If your spouse is becoming a selfish lover, then they are taking you for granted. You should be a priority in the bedroom, so if your spouse is no longer interested in fulfilling your desires, then it may be time to move on and find someone who will.

The Blame is Put on You

 If your spouse is always trying to blame you for everything and refuses to take responsibility for their actions, then they are taking you for granted. Your spouse needs to be responsible. Throwing you under the bus for everything can be a frustrating situation. 

Your Spouse Avoids Their Chores

A spouse who becomes sloppy and doesn’t want to help out around the house doesn’t want to focus on the marriage. They don’t want to put effort into the relationship and may be trying to see if you’ll just pick up their slack or fight them about it. So if you’re doing more and more chores around the house while your spouse sits back, you’re being taken for granted. 

Contact Us Today

If you’ve been frustrated with your marriage for quite some time, it may be because your spouse is taking advantage of you. This often means they are not putting in the necessary effort to maintain the marriage. 

The Ohio divorce attorneys at Lawrence Law Office can assist you with your divorce. If you are considering filing for divorce, you want a lawyer who will work to find a creative and collaborative solution to your legal needs. To schedule a consultation today, fill out the online form or call (614) 228-3664.

The post <strong>Ways in Which Your Spouse May Take You for Granted</strong> appeared first on Lawrence Law Office.

These people become freelancers and independent contractors. They gained some flexibility in their work. Instead of working full time from 9-5, they filled temporary and part-time positions.

Gig work can range from writing articles to delivering food to driving for Uber or delivering food to writing code or freelance articles. Many part-time professors are also gig workers. 

Gig work is beneficial for everyone involved. Businesses save money because they don’t have to pay full-time wages and benefits. Workers work the hours they want, allowing them more time with family and hobbies. However, they have no vacation time, so if they miss a day, they don’t have paid time off to make it up.

These gig workers are often classified as business owners, even if they don’t have a company name or employees per se. They are often considered sole proprietors for tax purposes, as they will be taxed on their income as a freelancer. 

In the event of a divorce, this can make things complicated, especially in terms of calculating alimony. That’s because it can be hard to calculate long-term earnings. A freelancer or gig worker may earn $100,000 one year, and then drop down to less and less money in the subsequent years. A gig worker has to keep hustling and chasing down jobs so that they keep making money. This is unlike a full-time worker, who has a permanent job and does not have to worry about finding new jobs constantly. 

Divorcing as a freelancer is tricky. It is considered a business owner divorce, which is always complex in some way. There are some complications that freelancers may have to deal with during a divorce.

One of them is a lack of time. You don’t have vacation time as a freelancer, so you need to spend your time on your work. You don’t get paid unless your work is complete, so if you’re spending all your time fighting and negotiating with your spouse, this will directly impact your income. 

Another thing to keep in mind is that your work could suffer if you’re stressed during your divorce. Not being able to focus makes it harder to complete projects. Depending on the type of work you do, getting distracted could put you or others in danger. It could also put you at risk of losing the job.

Planning Long-Term Support After a Freelancer Divorce

Now more than ever, each freelancer’s circumstance must be analyzed carefully. A person working in the gig economy will likely see their income fluctuate year over year, depending on:

• How successful their year was
• Whether their industry is impacted by economics and other factors
• If they are working in a completely new industry

Because there are so many variables involved, it becomes challenging to create long-term support arrangements. Clients must revisit their income levels and support amounts every few years, which can lead to a costly and frustrating process.

However, you can take steps to avoid the drama that comes with yearly reviews. Divorcing couples should think outside the box and compromise. A popular option is to create a “financial zone,” which creates a fair range of income so that if a freelancer falls a few thousand dollars, they can still absorb the expenses. However, creating a financial zone is not easy and requires playing with various hypotheses and formulas and evaluating them in real life.

Protect your work and income by making a plan early on. Devote certain time slots to your work and others to the divorce. Be sure to close shared accounts so that your ex-partner cannot dip into the money you have coming in.

Get refocused on your work. Keep your divorce as separate as possible. If you need time off, be reasonable with your requests while keeping your clients’ major deadlines.

Contact Us Today

Freelancers often have multiple jobs and can be considered business owners. However, this type of work makes divorce complicated, since determining earnings can be complex. 

The Ohio business owner divorce attorneys at Lawrence Law Office can help you deal with valuations and tax issues regarding businesses. We are experienced in helping separating couples divide their businesses. Schedule a consultation with our office today by calling (614) 228-3664 or filling out the online form.

The post <strong>Divorcing as a Freelancer</strong> appeared first on Lawrence Law Office.

In Ohio, the divorce process varies, depending on whether or not you have children. The process can take 4-12 months if you don’t have children, or up to two years if there are children involved. 

The biggest factor in divorce cases is whether or not you and your spouse can cooperate. You also need to meet the state requirements. In order to get divorced in Ohio:

• You or your spouse must have lived in Ohio for at least six months.
• You or your spouse must have lived in the county of filing for at least 90 days. 

Also, you cannot divorce while pregnant. If you or your spouse are pregnant, you must wait until the baby is born to finalize the divorce.

Once you meet the requirements and file the paperwork, you and your spouse can work together to get the divorce finalized. However, this is easier said than done. There are often roadblocks in the way that can make your divorce more complicated. Here are some common issues you may have to deal with.

The Case is Just Overly Complex

It’s possible that everyone is trying to get the process done as quickly as possible, but it’s hard because the divorce case is too complex. This is especially true in high net worth divorces, where there are significant assets involved. Child custody disputes, domestic violence issues, and investigations are also things that can delay a divorce. Spouses may need to complete certain actions before the case can move forward. Unfortunately, each step in a complex case can take months to resolve. Couples who are cooperative can speed up the process significantly.

Lack of Cooperation

A spouse who feels angry or bitter about the divorce will be less likely to cooperate. They may try to delay the process for as long as possible. In these cases, it helps to have a heart-to-heart talk with your spouse. Your lawyer can also assist you in trying to expedite the process. Sometimes going to court may speed things up. 

Your Lawyer Delays the Process

It’s not always the spouse complicating matters. Your lawyer could also be making things worse. 

They may try to delay the proceedings so that they can maximize their own profits. This can be a frustrating situation, so if you have doubts about your current attorney, you may want to get a second opinion and switch attorneys to make the process as painless as possible.

Pushing to Settle Too Quickly

Sometimes spouses will try to push a settlement too quickly. This often means they are hiding something, so in the end, it often leads to more delays. Make sure you take your time and go through all the financial information so that you can settle on a successful settlement. However, it may also be a good idea to hire a forensic accountant to discover any assets your spouse might be trying to cover up.

The Quickest Way to Divorce

Here are some ways to speed up the divorce process:

• Consider mediation. Couples who are able to secure an uncontested divorce can usually get a divorce fairly quickly. If there are some issues of contention, though, a mediator can help you resolve your issues and draw up a settlement agreement outside of court.
• Be forthcoming with financial documents. Share any information and documents about your estate and financial accounts with your spouse. This is a good idea since financial responsibilities tend to fall on one spouse, which leaves the other spouse in the dark.
• Review your finances. Tidy up your marital estate by having a financial advisor go through your finances. Reconciling debt and consolidating bank accounts can help get rid of the financial complexities involved in a divorce case, which can help speed up the process. So think about getting your finances in order if you want to divorce quickly.

Contact Us Today

Divorce can take a long time. The key to a quicker divorce is negotiation and cooperation. 
Get the help you need from the Columbus divorce attorneys at Lawrence Law Office. Our skilled attorneys have the necessary experience and expertise to advise you on all aspects of your divorce case, no matter how complex. Fill out the online form or call (614) 228-3664 to schedule a consultation.

The post <strong>How to Speed Up the Divorce Process</strong> appeared first on Lawrence Law Office.

Marriage is much more difficult when a spouse works as a CEO. CEOs work a lot, and when they’re not at work, they’re thinking about work. And if they’re dealing with a work issue like a bad quarter, this can also consume their time for weeks. 

This leaves very little time for family, which is the top reason why CEO marriages fail. Patience, time, and energy are all limited, often leading to an executive divorce. Spouses end up living separate lives as the CEO spends their time working, while the other spouse spends their time working and doing everything else on top of that, such as chores, cooking, cleaning, and childcare. As a result, CEOs are often seen as not committed to family, although CEOs do all this hard work for the benefit of their families. So it becomes a Catch-22. Both parties feel underappreciated. 

Indeed, CEOs bring home the bacon. CEOs may earn more than $1 million a year. Besides base pay and salary, a CEO may also receive the following:

• Bonuses
• Stocks and stock options
• Health and life insurance
• Deferred compensation
• Retirement package
• Pensions

How an Executive Divorce Can Affect a Business

Executives are well-compensated for their roles in helping businesses succeed. Anything negative that happens to the executive in their personal lives can translate into negative results for the business. Therefore, when executives divorce, there are several main concerns for businesses. They include:

• Material change in business ownership. If the bulk of a couples’ wealth is tied up in the stock of the company, a divorce may force the CEO to sell or transfer ownership of the stock to the non-executive spouse as part of property division in a divorce. This can alter control of the business by decreasing the CEO’s decision-making authority.
• Impacts to business judgment. If a CEO’s personal wealth is significantly reduced by a divorce, the executive might become more or less risk-averse when evaluating business opportunities.
• Distractions caused by the divorce. Divorce is an emotional affair. It is very time-consuming and involves many elements. As such, dealing with a divorce can be distracting for a CEO. An executive who is too focused on their divorce might not be giving the business the attention it needs.

How to Make an Executive Marriage Work

Executive marriages can be complicated, but they can work. Here are some tips to keep in mind:

• Keep the marriage equal. A CEO should not be the boss of everyone. There should be no hierarchy in marriage. Both partners should be considered equal, which can be hard for CEOs. Your spouse can say no to you.
• Know how to talk to your spouse. In a marriage, emotions matter. This is different for the business world when problems need to be tackled right away. When it comes to your spouse, take things slow and allow time to process emotions. You don’t need to be in a hurry. 
• Know your best customer. Whether you are at work or home, you need to focus on your best customer. At work, this may be the company that spends the most money. At home, the best customer should be your spouse. You have to cater to your best customers. At home, remember to do the things your spouse loves about you. This will keep your marriage alive. 
• Make a choice. CEOs are often expected to be available 24/7, so it’s natural for them to feel as though they are married to their jobs. However, if you want your marriage to survive, you need to remember that you have a choice to prioritize your marriage. Never try to put your marriage on the back burner. Couples need to discuss what elements are important in their marriage and what needs to be addressed right away so that both parties can feel appreciated. 

Contact Us Today

Business executives face unique challenges when getting divorced. Being an executive is a stressful job, but dissolving a marriage also brings about unique stresses. 
The Ohio executive divorce attorneys at Lawrence Law Office can help you understand strategies for protecting your assets. We’ll help your financial future remain bright as you navigate divorce. Schedule a consultation today by calling (614) 228-3664 or filling out the online form.

The post <strong>Divorce Issues for CEOs and Other Executives</strong> appeared first on Lawrence Law Office.

Deciding to divorce is a huge life transition, especially if you haven’t been single for decades. You may have never lived on your own. This can seem like an impossible task at 40, 50, or 60 years old or beyond.  

When it comes to divorce, everyone moves at their own pace. They have different personalities, so their experiences will be different. Some people may be relieved and ready to move on. Others may be in shock over the whole situation and having trouble moving on.

When dealing with a divorce, there are various stages of emotions involved. Here are some of the stages you may go through after a divorce. 

Shock

Even if you and your spouse have been discussing divorce a lot lately, it may not seem real until one of you leaves the marital home or sees a lawyer. The person who leaves may be feeling a huge sigh of relief. For the person left behind, the reality of divorce becomes a shock.

Three-Week Blur

Once the initial shock has dissipated, the next stage is essentially a blur. Things may be happening quickly for the person who left. They may be moving into a new place, redecorating, making new friends, all that good stuff. They’re adjusting to a new life and taking advantage of new opportunities. 

The person left behind, on the other hand, may be struggling to adapt. They’re still a little shocked and everyday life becomes a blur. Energy levels are low. They have difficulty focusing, which may be affecting their work life. They may feel angry and avoid friends and family because they don’t know what to say. They’re obsessing about the past and constantly thinking about what they could have done better.

Three Months In

After three months, there still may be some residual shock and anger, but for the most part, everyone is functioning better. The person who was left behind is in more control of their life, but now they may be worrying about legal matters. With more free time, people tend to throw themselves into their work or start dating.

Six Months to One Year Later

Things may be better to some degree. In some cases, it may be worse. There may be increased legal action at this time, which can be frustrating. Friends may be taking sides in the divorce. If you are dating and have children, there may be some anger and awkwardness from your children. You and the children may be in therapy. You may have to move or change jobs. You may be relying a lot on your friends and family during this time. 

One Year Out

Things tend to get better around the one-year mark. The divorce may be finalized. If not, the children may be looking for a reconciliation. Overall, everyone is adjusting well. Ideally, you and your ex are able to co-parent well. In some cases though, there are battles between the parents and children. At this point, some people are still struggling.

Two Years Later

Two years after the divorce, things should be turning a corner. You should feel like you are starting a new chapter in your life. Both parties should be moving on, making new friends and starting new romantic relationships. Many people are relieved and are enjoying their new lives, wishing they would have pulled the plug on their marriage sooner. Then there are those who are still dwelling on the past. They may have regrets and wish they would have worked harder on their marriage. If you’re still struggling, counseling can help you move on and help you realize that this, too, shall pass. 

Contact Us Today

Going from married to single is a huge transition. Just like any other major life event, people move through stages. They don’t suddenly feel better overnight. 
The Columbus divorce attorneys at Lawrence Law Office can handle your divorce details. Count on our experienced and knowledgeable team to resolve the issues of your divorce as quickly and smoothly as possible. Fill out the online form or call 614-228-3664 to schedule a consultation.

The post <strong>Stages of Divorce</strong> appeared first on Lawrence Law Office.

Business divorces are highly complex situations because it’s not tangible items you can simply split. Plus, there are valuations involved, so the business needs to be properly valued so it’s a fair split. That’s why you need the right lawyer on your side to help you make the right decisions.

Your average divorce lawyer does not have the right experience or background to effectively navigate disputes regarding businesses. Very few have practiced in business or commercial litigation. No matter what type of business you own, you need someone who understands all the nuances involved. Here’s what your attorney needs to know.

How to Preserve the Function and Value of the Business

When marital property includes a business, your lawyer has a lot of work to do. Their ultimate goal is to find a creative solution to a property division that preserves the value of the business and benefits both parties. 

The first step in a business owner’s divorce is to determine whether the business is community property or separate property. Who owns the business? This depends on several factors. When was the business founded or inherited? Whose money was used to operate the business? Did the value of the business increase during the marriage? 

Once ownership is determined, the next step is to perform a valuation of this business. This may be done by an agreed-upon expert or by each party’s independent experts. In any case, this step is important, so your lawyer needs to understand how to utilize a valuation expert. They also need to have the background and knowledge to understand the expert reports prepared in the case. The process can be overwhelming, so it’s crucial that you have a knowledgeable legal team in place.

Your lawyer needs to be able to advocate for the analysis and positions stated in your expert’s evaluation report. Having someone who can speak the language and anticipate next steps is very important.

Your Attorney Needs to Understand the Discovery Process

It’s always best to compromise and negotiate. In fact, that is always the goal, but the truth is that divorces involving business interests often lead to litigation. Because of this, a good divorce lawyer needs to understand the discovery process.

The discovery process is most often associated with criminal law, so not all divorce lawyers have these skills and background. A business divorce lawyer can quickly identify what information is needed and how to use all available tools to obtain that information.

If the case is going to court, you need to be prepared. You may imagine lawyers arguing in courtrooms, but months of preparation is needed to succeed. The right business divorce lawyer knows how to use depositions, interrogations, and various requests to gain valuable information that can help them support their arguments in court.

Hire a One-Stop Shop

It’s not easy to find a law firm that can help you with your business divorce concerns. You want a team that has extensive experience in family law and business law, as both these legal areas become commingled in a business divorce. 

When choosing the right legal team, you need to look closely at credentials and experience. You want someone who is not afraid to fight for you in court, so look at the firm’s litigation experience as well as the outcomes. 

Also, look for convenience. Ideally, you want a firm that can take care of all legal aspects of your case without the need for seeking different legal counsel for separate matters. A one-stop shop that can tend to all your legal needs will make things easier for you as you navigate a divorce involving a business. 

Contact Us Today

As a business owner, getting a divorce is even more complicated than a normal divorce. You need to know what to look for, as the right legal help to navigate through this situation. The Ohio business owner divorce attorneys at Lawrence Law Office understand the challenges you will face as you deal with splitting your business in a divorce. We understand how complex these situations can be and will provide you with sound legal advice along the way. To schedule a consultation with our office, call 614-228-3664 or fill out the online form.

The post <strong>Why You Need the Right Lawyer for Your Business Divorce</strong> appeared first on Lawrence Law Office.