The Law Office of Shauna T. Hagan, LLCFindLaw IM Template2024-02-09T02:32:41Zhttps://www.haganfamilylaw.com/feed/atom/WordPress/wp-content/uploads/sites/1600031/2020/05/cropped-shauna-favicon-32x32.pngOn Behalf of The Law Office of Shauna T. Hagan, LLChttps://www.haganfamilylaw.com/?p=476282024-02-07T02:33:51Z2024-02-09T02:32:41ZBiological parents always get custody
Contrary to popular belief, the court does not automatically favor biological parents in custody cases. The primary concern is the child's well-being, and judges base their decisions on factors like stability, emotional support and the ability to provide a safe environment.
Guardianship is permanent
Guardianship is not necessarily a lifelong commitment. It can be temporary, especially in cases where biological parents have to address specific issues that temporarily hinder their ability to care for their children. The court’s goal is to reunite families when possible.
Guardianship is only for orphans
Guardianship is not limited to children without living parents. In many cases, parents may grant guardianship voluntarily due to personal or financial challenges. This arrangement allows children to receive the care and support they need while parents work through their difficulties.
Only close relatives can be guardians
While courts often consider close relatives, they may appoint guardians outside the immediate family. The key criterion is the ability to provide a stable and loving environment. Judges may also consider friends or individuals with a strong connection to the child.
Guardianship and adoption are the same
Guardianship and adoption serve different purposes. Guardianship is a legal relationship that grants certain rights and responsibilities but does not terminate parental rights. Adoption is a permanent legal arrangement that severs biological ties and grants full parental rights to the adoptive parents.
Understanding the truth about child guardianship is important for informed decision-making. Dispelling these common myths ensures that individuals involved in the process have a clear understanding of their roles and responsibilities, ultimately benefiting the well-being of the children in their care.]]>On Behalf of The Law Office of Shauna T. Hagan, LLChttps://www.haganfamilylaw.com/?p=476262024-01-19T20:45:29Z2024-01-23T20:45:20Z1. Splitting retirement assets
One of the biggest financial challenges of later-life divorce is figuring out how to divide retirement savings and pensions fairly. This often requires insight from an accountant or financial advisor to understand all of the options and ramifications. According to U.S. News & World Report, the average retirement account balance for Americans aged 65-74 is $426,070.
2. Health insurance changes
Health insurance is another area that will likely require adjustment post-divorce. It may affect Medicare enrollment timing and costs. Consider your available options carefully as you come to your settlement agreement.
3. Housing transition
Deciding who gets to stay in the marital home and who has to move can be emotional. Downsizing or relocating altogether is often required for one or both spouses after divorce. You also need to consider factors such as income, age and health.
4. Estate plan updates
With divorce comes the need to revise estate planning documents like wills, trusts and beneficiary designations on retirement accounts. This ensures assets go to the intended recipients and avoids unwanted disputes down the road. An estate planning attorney can handle the revisions.
5. Tax implications
The division of marital assets due to divorce can trigger taxes and penalties if not done properly. Work with a tax professional to minimize the negative tax consequences. Rules around alimony, home sales and retirement account withdrawals can be especially tricky.
Divorce after retirement brings unique challenges. With some forethought, you can achieve the fair outcome you desire.]]>On Behalf of The Law Office of Shauna T. Hagan, LLChttps://www.haganfamilylaw.com/?p=476242023-11-22T01:40:57Z2023-11-22T01:40:57ZUnderstanding equitable distribution
The principle of equitable distribution guides the division of property. This means the fair but not necessarily equal division of marital assets, including the family home. The court considers various factors to determine what is fair, including the spouse's contributions and needs.
Separate and marital property
To decide who gets the house, it is important to distinguish between separate and marital property. Separate property typically includes assets acquired before the marriage, inheritances or gifts received individually. The marital property encompasses assets acquired during the marriage. The family home often falls into this category.
Contributions and economic circumstances
Courts consider each spouse's contributions to the marriage when deciding on property distribution. This includes both financial contributions and non-financial contributions, such as homemaking or childcare. Additionally, the economic circumstances of each spouse play a role in determining who gets the house. If one spouse has a higher need for housing due to factors like custody arrangements or financial stability, they may be more favored in the property division.
Even with the state having a lower divorce rate in 2022 at 2.6 divorces per 1,000 population, dissolving a marriage is the only solution for some couples. When the divorce involves a home, understanding the elements of asset division can help couples navigate the process with clarity and a focus on achieving a fair outcome.]]>On Behalf of The Law Office of Shauna T. Hagan, LLChttps://www.haganfamilylaw.com/?p=476232023-11-21T02:51:27Z2023-11-21T02:51:27Z1. Business valuation
One of the primary challenges for divorcing spouses with a shared business is determining the value of the enterprise. Delaware follows the equitable distribution principle, meaning a fair division of assets acquired during the marriage.
In the case of a jointly owned business, the fair market value becomes an important factor in the asset division process. A professional business appraiser is often necessary to ascertain an accurate valuation that both parties can accept.
2. Operating agreements and corporate structure
The business structure and any existing operating agreements matter a great deal in the divorce proceedings. Delaware allows various business structures, such as LLCs, corporations and partnerships.
The chosen structure can significantly impact the division of assets. The parties should review any existing agreements, such as buy-sell agreements or partnership agreements, to determine how they address ownership changes due to divorce.
3. Income and tax implications
The financial implications of divorce extend beyond asset division. Income generated from the business plays a role in determining alimony and child support, if applicable. Additionally, Delaware has specific tax laws that may impact the division of assets and any future income from the business.
4. Continuity of operations
Delaware has 27,111 small businesses. If owners of these businesses divorce, they must decide the fate of their jointly owned business. Options include one party buying out the other, selling the business and splitting the proceeds or continuing joint ownership with a clear agreement on management and decision-making. Planning for the future of the business helps ensure its continued success and the financial well-being of both parties.
5. Intellectual property and client relationships
Intellectual property or strong client relationships play a huge role in many businesses. Safeguarding these assets during divorce is important. Delaware recognizes the value of intellectual property and may take it into account during asset distribution.
Divorcing spouses in Delaware with joint business ownership face unique challenges. Navigating these factors with diligence and foresight helps a fair and equitable resolution.]]>On Behalf of The Law Office of Shauna T. Hagan, LLChttps://www.haganfamilylaw.com/?p=476222023-09-25T16:45:50Z2023-09-25T16:45:50ZParental rights come first
Courts prioritize the rights of parents in custody and visitation matters. The courts grant grandparents' rights only if it is in the child's best interest.
The best interest of the child
Courts will assess whether maintaining a relationship with the grandparents is in the child's best interest. Factors include the child's age, the relationship between the child and the grandparents and the parent's willingness to facilitate the relationship.
Non-custodial rights
Grandparents' rights typically come into play when one or both parents are no longer there or when there are compelling reasons to grant visitation rights, such as a history of providing care for the child.
Mediation
Sometimes, mediation can help resolve conflicts between grandparents and parents, leading to agreeable visitation arrangements.
In Delaware, over 9100 grandparents live with their grandchildren, and even more have visitation rights, according to the Census Bureau. While grandparents' rights are not absolute, they exist to ensure the child's best interests.
Ultimately, the goal is to create an environment where the child can continue to benefit from the love and support of their grandparents, even in the face of changing family circumstances.]]>On Behalf of The Law Office of Shauna T. Hagan, LLChttps://www.haganfamilylaw.com/?p=476212023-08-15T01:02:32Z2023-08-15T01:02:32ZConsidering the type of fund
The type of retirement fund is a factor in the decision. Divide retirement accounts that you or your spouse paid into. Alternatively, company-funded and vested funds might remain with their intended beneficiary.
Addressing company-funded retirement accounts
If you or your spouse have a company-funded retirement account from a job acquired during the marriage, the court might award the non-owning spouse a portion of the value of the fund if their financial situation warrants it due to your relationship and established expectations.
Dividing paid-in retirement accounts
Most courts will split the value of paid-in retirement accounts based on each spouse’s contribution and participation in the marriage. You may need a Qualified Domestic Relations Order if you and your spouse choose to simply divide the funds within the retirement account.
Choosing alternative funding solutions
In some cases, you might prefer to choose an alternative approach for resolving your retirement fund distribution. For example, if your share in the family home is equal to your spouse’s share in your retirement, consider a trade. If you sign over your share of the house, you retain the full value of your retirement.
Understand the basics of retirement fund asset distribution to help negotiate the settlement in your divorce.]]>On Behalf of The Law Office of Shauna T. Hagan, LLChttps://www.haganfamilylaw.com/?p=476202023-07-27T01:07:07Z2023-07-27T01:07:07ZWhen the court considers a child's preference
While there is no specific age determining when a Delaware judge will consider a child's physical custody preference, they will factor in the opinion of an older, more mature child. For example, a teenager's opinion holds more weight than a child under the age of 12.
However, the judge does not have to follow the child's choice when making a custody agreement. Instead, they weigh that preference with other factors that impact the child's best interests.
Considering the child's best interests
When parents go through the court system to seek a custody arrangement, the judge follows a basic format but still makes determinations on a case-by-case basis. Their priority is to make decisions based on what is best for the child. Some factors they consider include:
The child's physical and emotional health
The relationships between the child and each parent
Each parent's health and history regarding caregiving for the child
Each parent's criminal history and the records of anyone living in their household
The goal is to create a custody plan that causes little disruption to stability in the child's life and nurtures the relationships they have with parents, siblings and other family members.
When parents enter custody proceedings with the goal of serving the child's best interests, it often improves the process.]]>On Behalf of The Law Office of Shauna T. Hagan, LLChttps://www.haganfamilylaw.com/?p=476192023-06-01T00:09:40Z2023-06-01T00:09:40Zolder couples call it quits after decades of apparent happiness.
Different visions of the future
As couples near retirement age, they make plans for the future, but sometimes these plans do not align. One spouse may want to move closer to children and grandchildren while the other wants to stay put. One might want to retire early and travel the world while the other would prefer to continue working. Compromise is essential in any marriage, but when a couple's goals and aspirations are truly incompatible, it can be a dealbreaker.
Fewer distractions
Often, older couples who divorce have been experiencing marital problems for a long time. In their younger years, children and work might have provided welcome distractions, but with an empty nest and a less busy schedule, marital issues can rise to the surface. Sometimes, couples who begin spending time alone together for the first time in decades simply realize that they have less in common than they once thought.
Financial worries
Money is a common factor in divorce at any age. Getting older can bring stressful financial changes for couples. Retirement, health issues and caring for elderly parents can all take their toll on a couple's finances. This, in turn, can cause tension and arguments that put a strain on a marriage.
There are many factors that can lead to the decision to divorce. For older couples, the changes that come with age can sometimes put an irreparable strain on a marriage.]]>On Behalf of The Law Office of Shauna T. Hagan, LLChttps://www.haganfamilylaw.com/?p=476182023-05-16T19:29:01Z2023-05-16T19:28:23Zco-parenting tips that can help.
Open the lines of communication
No matter how you feel or what you think, you need to have open communication with your ex. You should work together to support and care for your children, and this requires collaboration that is not possible without open, honest and understanding communication.
If you cannot find a way to speak with your former spouse without hurt or malice, seek a counselor that can help you. Try to focus on your children and what is best for them instead of your own hurt or offense. Use all methods of communication available. Email or text may be best if either of you has difficulty with in-person meetings.
Create a parenting plan
One of the best ways you can avoid disputes and maintain structure for your children involves creating a comprehensive parenting plan. Although you may need some wiggle room every so often, your children’s schedules and your responsibilities as parents should be clear. If you cannot create a plan that works best for all parties involved, work with a mediator or parenting coordinator who can help. Make time to revisit or rework your parenting plan at least every few years.
These are only two of the ways you can make co-parenting easier on you and your former spouse. However, they are the foundation for creating an amicable relationship that benefits your children.]]>On Behalf of The Law Office of Shauna T. Hagan, LLChttps://www.haganfamilylaw.com/?p=475512023-03-21T21:50:29Z2023-03-21T21:47:59ZDivorce is challenging for everyone in the family, especially for the children. When the time comes to discuss who the children will live with and who will make decisions for them, the conversation between the parents can become challenging.
The court aims to make custody determinations based on the child's best interests, which at times means making decisions that will give one parent more time with the child, as well as more authority over them.Examples of such situations include:
Violence
Delaware courts are less likely to award sole custody, joint custody or allow the child to live with the parent full-time if that parent committed a violent crime, such as domestic violence, and has a recent conviction on their record. However, sometimes parents who have a past history of violent crimes have shown a lengthy record of non-violent behavior. In these cases, judges are more likely to consider a parent’s request for more custody if they can provide sufficient evidence that satisfies the court.
Abandonment
Evidence of abandonment can hurt a parent’s chances of getting the amount of custody they want, whether physical or legal. Courts evaluate each case individually and will look at all evidence, including the potential of a parent leaving their children behind temporarily due to domestic violence, or whether the parent abandoned the child for other reasons.
Violating court orders
If a parent violates an order of the court regarding the child’s custody, especially if this happens repeatedly, the court may consider this in determining who the child will live with and who will make decisions for the child. Child custody issues can be complex and especially difficult because most parents genuinely want what is best for their children. It is critical, however, to comply with court orders and remain informed of what you can and cannot do with your child before making a decision that could affect your chances of spending more time with your child.]]>