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How people can prepare for divorce

Divorce can be a costly and difficult process, so one of the first steps that people in Wisconsin should take is making sure they want to go through with it. They should also do some research, including looking into state laws and finding out which professionals may be helpful. For example, in addition to an attorney, a person may want to hire a therapist.

Getting organized is important. This includes everything from collecting bank statements and tax returns to closing joint accounts and making a post-divorce budget. All of this information, along with thinking about personal and financial goals for after the divorce, can help a person plan what to ask for in the divorce. For example, a person may make a budget and find that keeping the marital home is not affordable.

Parents and denied child visitation

Wisconsin parents who have been denied visitation with their children may have legal recourse. However, they should first understand the reasons for the denied visitation before taking any action.

The family courts order complete child visitation denials very rarely, but there are reasons they may do so. A common reason is that there is a belief that safety during visitation may be an issue. Judges could believe that visitation presents an emotional or physical threat to the wellbeing of the children.

Jumping into a bad real estate deal

Shopping for a new home can be exciting and daunting. You may have a list of items and amenities you must have as well as areas of Wisconsin where you want to live. Each new item on your list may raise the potential cost of the home. However, if you are willing to put in the time and effort, it is possible to find an exceptional deal on a residential property.

The trick is to find the balance between a solid home with a fair price and a property that seems too good to be true. It is easy to let your emotions lead the way when searching for the perfect home, but keeping some tips in mind may help you avoid ending up with a money pit.

Money, cheating and fighting most likely to end a marriage

Despite declining divorce rates, there is no guarantee that a couple in Wisconsin won't see their marriage come to an end. While infidelity or fighting are among the most common reasons why divorces occur, they are not the only ones. For instance, if a couple is having financial problems, it could indicate that the nuptials will not last. This is because a lack of money can put stress on a relationship that can cause it to fail.

If a person gets sick or experiences a serious injury, his or her marriage could face a tough test. This is because an individual's health care needs often causes financial strain. In some cases, a partner is not capable of carrying more of the load in the relationship until the sick or injured person recovers. If an individual has problems with drugs or alcohol, it may result in a marriage coming to an end.

What art collectors should know about estate planning

Adequate estate planning is something that all Wisconsin individuals should have in mind, particularly those who have acquired significant wealth in their lifetimes. Scandalous estate litigation cases commonly reported by tabloid publications invariably involve celebrities from the world of entertainment and professional sports, but art collectors can be easily added to this list even though gossip magazines do not usually focus on them.

Similar to passionate artists, art collectors often become so deeply involved with their life calling that they forget to address what will happen with their extensive collections after they pass away. When this happens, claims against the estate rapidly materialize along with demands from creditors and frivolous lawsuits from dubious plaintiffs as well as bickering relatives. An example of this situation occurred to the late American painter Robert Rauschenberg, whose vast estate encompasses both created and collected artworks. Although Rauschenberg had established a revocable trust that included a business succession planning strategy for his foundation, his questionable choice of trustees eventually became a courtroom nightmare.

Divorce after an illness

When Wisconsin couples get married, their marriage vows may contain a promise to stick together "in sickness and in health". However, there is some evidence that suggests that not all spouses are up to this challenge.

A study showed that when wives become seriously ill, there is a greater likelihood of the marriage ending in divorce than when a husband is the one to suffer a health crisis. These findings were true for incidences of cancer as well as strokes and heart problems.

Divorce announcement could divide fortune of Amazon founder

The news that Amazon's founder, Jeff Bezos, the world's richest man, will end his marriage easily inspires thoughts about how the divorce will divide the fortune that he has amassed during his marriage. When people in Wisconsin get divorces, they also need to divide their marital assets, and speculation about how the Bezoses will divide their shared assets reveals issues that often accompany high-asset divorces.

Although Bezos presents an example of extreme wealth, some of the issues that he and his ex-wife must work out commonly apply to people with high net worth. Wealthy spouses, especially entrepreneurs, typically own stocks. Valuation of stocks tends to be a complex process, and splitting spouses need to place a dollar figure on these assets before negotiating a settlement.

Understanding child abandonment laws in Wisconsin

Watching a child struggle in life is never easy, especially if the child is one you love. Unfortunately, with the rise of opioid addiction, more families are facing the tragedy of parents who are unable or unwilling to care for their own children. In some cases, the parents leave the child for long periods without proper care or supervision, or they abandon the child altogether.

You may be the grandparent or other relative of a child in these circumstances, and you fully understand the long-term damage such abandonment can do, both physically and emotionally. You may wonder what your options are.

How to get back child support

Parents in Wisconsin and throughout the country may need to take steps to collect child support that they are owed. In some cases, this means asking a judge to compel the other parent to pay a past-due balance. Parents will generally pursue back support in a state court, but it may be possible to do so in a federal court in certain instances.

Those who are seeking back support should be able to show that they have taken steps on their own to collect the balance owed. In the event that a child's father owes support, for example, the mother may need to show evidence that paternity was established and the father knew about it.

Using multiple trusts in an estate plan

When Wisconsin estate owners think about planning for the future, they may want to take advantage of the additional flexibility and control provided by trusts. Some may wonder if it's possible to create more than one trust to handle different parts of an estate. By creating a new trust, one won't revoke a previous trust unless the document explicitly seeks to address the original document. This is one aspect that differentiates trusts from wills.

If an estate owner wants to change a trust, they many consider a trust restatement or complete amendment. These will alter the initial distribution of assets as part of a trust. In some cases, an estate owner can simply adjust the terms of the existing trust. If someone wants to distribute a specific asset outside of the normal distribution process, they can create a specific provision for that asset alone in the same trust.

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