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Dealing with high-net worth divorces: Keep this tip in mind

It isn't easy to go through a divorce, no matter what your financial situation is. Despite that, people do it every day, and some take care of the divorce better than others. The difference between someone who survives a divorce well versus someone who just survives is that the first person has more knowledge about protecting themselves.

If you plan to go through a divorce and need to know the No. 1 tip to help you, it's this: Make sure you know all your assets. Anything of value can be an asset. That includes art, stocks, properties, furniture, jewelry and other items.

Tips for co-parenting across the miles

Co-parenting can be tricky in the best of circumstances, but the situation gets even messier when one parent relocates to a different town. Given that children generally do better when their parents stay closer, relocation should only be done after much thought and planning. Co-parenting across long distances can work, however. Here are some tips for making the transition easier for you and your children:

Child support: Judges look out for a child's best interests

Child support is an important aspect of compensation for children with separated or divorced parents. Children who live in single-parent households need the support of both parents, whether those parents are wealthy or not.

Child support is not designed to make the noncustodial parent suffer, but it does mandate that individual to help support their child financially. In cases where parents see children for an equal amount of time, support may be reduced or eliminated completely depending on the case.

Alternative dispute resolution can help you resolve your divorce

You once were deeply in love with your spouse, but that love has turned acrimonious after finding out that they were committing adultery. You were hurt, but you tried to be the better person. Despite that, they seem to have gone out of their way to make your life more difficult. You just want to get a divorce, but they don't want to let go.

In your situation, which is not as uncommon as you may think, there are ways to work through disputes and to get your divorce moving forward. One of those possibilities is going through alternative dispute resolution (ADR) options.

High-value divorces: What are some common mistakes?

In a high-asset divorce, you have a lot to lose or gain. Looking at the facts, those involved in high-asset divorces often end up with less than they began with, whether they get all they intended to. On top of this, the divorce is expensive, making it a financially and emotionally taxing experience.

One of the first things you need to do is to make sure you have your assets valued. A valuation expert can give an objective statement on what your assets are worth, which will be something that can help you while negotiating and if you end up in court. Keep in mind that you may wish to have a specialized accountant work with you, especially if you have unique holdings, like cryptocurrencies.

Concerned about child support? Keep this in mind

Many people believe the misconception that child support is supposed to go to the child alone. The reality is that child support doesn't only need to pay for the child's clothing or specific school items.

Child support is there to help give a child a better home, to provide money for extracurricular activities, to provide medical care and even to make sure that they have food and clothing. Some people argue that they do not want to pay the money to the other parent because they are worried about how it will be spent. On the whole, the most important thing is that the child is well-cared for. This means that they should be properly clothed, have enough to eat and have a shelter over their head in the form of an apartment or another safe dwelling.

Effective co-parenting tips for after a divorce

A divorce can bring tensions and challenges to any family dynamic. For couples who are also co-parents, these challenges can’t get in the way of effective parenting after a divorce. Each family may deal with divorce in a unique way, but some common issues may arise when trying to co-parent with a former spouse.

Maintaining shared duties, civil communication, parenting time and consistency among households takes careful and thoughtful planning from parents. In order to work toward an effective co-parenting system, consider some advice from others who have been in this position.

Help your kids adjust to divorce with these 3 simple tips

Divorces can hurt families in many ways other than just separating two parents. For children, the situation may feel like the end of all they've ever known. Teens may struggle to adjust to the changes they're going through with their parents while maintaining control over their own lives.

The good news is that parents can do things to reduce their children's struggles during divorce. From talking about the divorce to keeping children together, there are ways to reduce stress and maintain the family unit as much as possible.

3 tips for talking to your teen when you divorce

The teen years are hard enough without life-changing events, but when you find out that your parents are divorcing, that can be devastating. As a parent of a teen, you need to find an appropriate way to discuss the divorce and to help your teen understand your choices.

One of the issues with divorce when you have a teen is that they are likely to have their own opinion about the divorce and to vocalize them. You need to be prepared as a parent to listen and respond in a way that helps your situation and protects your relationship with your child.

Should you try mediation or arbitration?

There are two main forms of alternative dispute resolution including mediation and arbitration. Each has its own benefits, but they are slightly different in how they work.

If you have a dispute that you can't get through but you're willing to work toward a solution, alternative dispute resolution might be the right option for you. Here's a little more on how mediation and arbitration work.

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Law Office of Stephen J. Bedor

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