Bitcoins and Hiding Assets in a Divorce Action

Protect Your Assets – Talk To A Divorce Attorney To Avoid Being Ripped Off By Bitcoins Concealment

bitcoins divorce assets ohioBitcoins are defined as a cryptocurrency and are the first of their kind.  Cryptocurrency is just a fancy term for “encryption” meaning only authorized parties can read it. This essentially allows individuals to store bitcoins without any link to themselves, drastically differing from bank accounts or stocks. Bitcoins, unlike traditional currencies like the US Dollar, aren’t backed by governments and aren’t influenced by monetary policy. This makes bitcoin more like gold than any other currency since its value rests entirely on how much people are willing to pay and how much its users believe in it. Bitcoins are traded from one personal ‘wallet’ to another. A wallet is a small personal database that you store on your computer drive, on your smartphone, on your tablet, or somewhere in the cloud.

Bitcoins came into existence in 2009 when creator Satoshi Nakamoto (which is presumed a pseudonym) launched the network as an “electronic peer-to-peer currency.”  Since the introduction of bitcoins, several other crypto-currencies have emerged. Bitcoin is digital public money that is created by painstaking mathematical computations, and policed by millions of computer users called … Read More... “Bitcoins and Hiding Assets in a Divorce Action”

Divorce During Pendency: Living Separately or Living Together?

Should Couples Live Separately Or Together Through A Divorce Or Dissolution? – List Of Factors Crucial In Each Case

divorce pendencyThe parties agree the marriage is not working; the decision is made by one of the parties to initiate a divorce proceeding.  Do the parties live separately or together during the pendency of a divorce?  There are many factors to be considered:

Finances:  If there is adequate income available to cover the living expenses of two (2) households, it is probably easier and less emotionally draining to live separate and apart while the divorce is taking place.  This arrangement allows each party to experience what it feels like to live alone and to take care of one’s home or apartment without the physical assistance or presence of the other party.  If the money or income is not sufficient to pay for two (2) households, some parties will elect to move in with a relative or friend.

Children:  If there is a child or children, both parties may want to remain in the marital residence or apartment especially if each party is seeking “custody” of the minor child or children.  Even though “abandonment” is not recognized as a cause of action in … Read More... “Divorce During Pendency: Living Separately or Living Together?”

Divorce: Sudden Divorce Syndrome in Ohio

Can Sudden Divorce Syndrome Impact You Both Emotionally And Legally? What You Need To Know

Sudden Divorce Syndrome ohioSudden Divorce Syndrome (SDS) refers to a situation that occurs, most often in a man’s life, where his spouse, without any signs, wants a divorce.  Perhaps the most publicized SDS (Sudden Divorce Syndrome) case involves Mr. Martin Paul.  Mr. Paul discusses how he was nearing retirement, wasn’t having any ill feelings towards his wife, and had even been planning numerous vacation and relaxation events for himself and his wife together.  Unbeknownst to Mr. Paul, his wife had other plans.  She blindsided him when she announced that she wanted a divorce.  Following the completion of the divorce Mr. Paul was devastated. He was unable to cope with the loss of his family and the accusations his wife threw his way.  He overdosed multiple times but each time was able to dial 911 in time.  Mr. Paul now lives overwhelmed with the  memories of his past life and now considers himself a “broken man.”

Martin still loves his wife and was completely unaware of her desires for a divorce.  This quick onset of divorce is referred to as “sudden divorce syndrome” and while you won’t … Read More... “Divorce: Sudden Divorce Syndrome in Ohio”

Divorce: Dividing Property, Assets & Debts in Ohio

Property Division in Ohio Can Be Complicated In Marriage Breakup – Hire A Experienced Divorce Lawyer Early

divorce property marriage ohioDepending upon the issues in a marriage breakup, dividing assets and debts is usually a preliminary topic of conversation.  This can be a complex and lengthy discussion depending upon the nature of the assets, length of the marriage, and title of the property. The first aspect of analyzing how the court may divide property pertains to whether or not the property was acquired before or after the date of marriage. If the property is separate pre-marital property, that property would remain the property of the initial owner and would not be subject to division. In Ohio, property acquired during the term of the marriage is generally divided “equitably”.  While the courts in Ohio strive to create a fair property division, this may not always lead to a 50/50 equal distribution. But, an equal division is presumed to be the starting point. The Court hopes to end up with a decision, that when viewed as a whole, leaves both parties with roughly equal shares of the marital estate.

If a spouse inherits property (or is gifted specific property during the course … Read More... “Divorce: Dividing Property, Assets & Debts in Ohio”

Divorce and Your Mortgage Interest Tax Deduction

Consider Allocation Of Mortgage Interest Tax Deduction When Filing A Divorce Decree

divorce mortgage interest tax deductionIn Ohio, and elsewhere, you may be able to deduct the interest paid on the mortgage on your principle residence when filing your tax return.   A deduction is simply the lowering of your taxable income.  For example, if you make an adjusted gross income of 70,000 dollars and have paid 10,000 dollars in mortgage interest throughout the year, you’re taxable income before other deductions would be 60,000 dollars.

Regardless of whether you’re single or married, you’re able to claim your mortgage interest deduction on your itemized return.  When you file your return, you’re also required to list your filing marital status.  The IRS requires that you claim your marital status in accordance with your marital status on the “last day of the year.”  So you must have been married on December 31st of the year to file as “married” for that year.

There are two types of deduction schedules you’re able to file, an itemized or a standard deduction.  It only makes sense to file an itemized deduction only if your deductions exceed your standard allowance, which in 2013 reached $6,100 for an individual filing as a … Read More... “Divorce and Your Mortgage Interest Tax Deduction”

Divorce: Service Of Process In Ohio

Don’t Know Your Spouse’s Location? How to Complete “Service of Process” When Seeking A Divorce In Ohio

divorce service of processWhen I am retained by a client (Husband or Wife) who is seeking a divorce from his or her spouse, one of my initial questions is:  Do you know where your spouse is residing?  Or, do you know where your spouse is living or working?  This information is important as the spouse will need to be formally “served” with the Complaint for Divorce and associated pleadings (Financial Affidavit, Parenting Proceeding Affidavit, Family Questionnaire, and Title IV-D Application for Child Support Services).  The two (2) most commonly used methods of serving a party with the necessary divorce papers are:

  1. Personal Service of Process:  A Process Server is identified to personally go to the residence or place of employment of the Defendant and to personally deliver the divorce packet (containing all the pleadings and Summons of the Court) to the Defendant.  The Process Server then notifies the Court that personal service of the Defendant has been completed or accomplished.  What are the qualifications of a Process Server?  The person must be eighteen (18) years or older, not a party to the case, and appointed by
Read More... “Divorce: Service Of Process In Ohio”

Divorce: Addressing High Conflict Cases – Tips and Strategies

High Conflict Divorce Tied With High Conflict Personalities According To Therapists

divorceOn March 24th, 2014, I traveled from Dayton, Ohio to Mason, Ohio to interview Brenda Patton, Therapist, Parenting Coordinator, and Mediator for The Counseling and Cooperative Parenting Center of Ohio, LLC, also known as “CCPC – Ohio”.  Initially, I was interested in interviewing a spokesperson of this Parenting Center as they were a “private” entity providing supervised visitation or supervised parenting time for families in Montgomery, Warren, and Hamilton Counties. When I learned that the service of supervised visitation had been discontinued in July 2013, I explored other topics of interest. When Ms. Patton advised me that the Center was interested in working with “high conflict” divorce matters, my interest was piqued.

What is a “high conflict” divorce matter?  Ms. Patton defined it as being cases that have a “revolving door” relationship with the Domestic Relations Courts. They are the cases that are never resolved or settled.  Months and/or years after divorce has been finalized, the parties are still returning to Court to resolve unsettled issues relating to support, visitation, selection of schools, selection of treating physicians, payment of medical expenses, payment of extracurricular expenses, etc. These cases often … Read More... “Divorce: Addressing High Conflict Cases – Tips and Strategies”

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