70 Dogwood Drive, Suite 304, West Warwick, RI 02893
Phone: (401)
632-6976
Fax: (401) 615-7285
Rhode Island's Most Affordable Divorce Lawyers / Attorneys
Serving Divorce and Family Law Clients throughout Rhode Island
|
|
|
|
Assets are many times the most problematic issues within a divorce. It's not surprising that this causes issues in the
Rhode Island divorce process. You and your spouse have both contributed to your relationship, you've have made purchases and built a life and a home together. When you have equally invested part of yourselves in your accumulated possessions and have received many things as gifts as a couple, it is all too eye opening when you reflect on the dramatic affect the termination of your relationship causes. As you make plans to go your separate ways in life the reality that two can live more cheaply than one truly hits home. Both parties begin to re-evaluate
their needs, their spouse's needs, the children's needs and the resources that
each haw available to continue on with their lives. The costs of living alone and possibly providing a home for the minor children can be financially crippling
as well as emotionally overwhelming.
All too often what has been described to a Rhode Island attorney as an easy and
amicable divorce quickly leads to feelings of anger, distrust and betrayal as
one or both of you make requests, demands, or voice expectations
regarding your share of the assets only to find that the other spouse has
completely different expectations and is resistant or otherwise refuses to
acknowledge the other spouse's request(s).
The Rhode Island Divorce/
Family Court judge is charged with weighing the information presented and
ordering an equitable distribution of the marital assets. The question
then becomes, what assets exist that you have legitimate legal right to that can be asserted in your
Rhode Island divorce proceeding.
Consider this example. William and
Margaret are getting divorced. They have a home that they purchased together twelve (12) years ago.
William put down $20,000 on the house from money that he personally inherited
when his father died prior to their marriage.
Margaret works part-time and makes about $18,000 per year. The remainder of her time is spent caring for their 5 year old son, Jonathan. The house deed is only in
William's name as are all the taxes and utilities for the property. William is paid by direct deposit into a joint bank account that
William and Margaret have together. The mortgage, taxes and insurance on their home are paid each month by
William via a check drawn on that joint bank account.
Margaret was given a small piece of raw land on her father's farm in Idaho
as a gift. William and Margaret have been out to that property and have
discussed plans for what they would do with that land in the future.
Margaret's father decided to pay the taxes for that raw land until Margaret decides what to do with the property he gave her.
William and Margaret never got around to doing anything other than just discussing the idea of putting a small vacation house on the land.
What are
William and Margaret each entitled to claim?
Is William entitled to get credit for the $20,000 he put down on the house
from his inheritance?
Is
Margaret entitled to the Idaho property or is William entitled to half?
Can
Margaret stop William from getting the $20,000 he initially put into the house as well as the proportional equity that may have accrued on that initial investment in the house?
There are several other issues that can be raised here. Can you identify them?
If you can't identify these issues and determine how to protect yourself in the instances
mentioned, then you need the legal advice of a caring and experienced Rhode
Island divorce lawyer.
If you were William and I were able to protect your
$20,000 investment in the house (like William) wouldn't it be worth it to engage
my services?
If you were Margaret and I could save your Idaho
land for you, wouldn't it be worth it to engage me to help you?
|