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Financial Considerations Regarding Ohio’s Postnuptial Agreement Law

postnuptial-agreements-alternative-divorce-solution

Postnuptial Agreements Can Help Protect Financial Interests in Divorce

PUBLISHERS NOTE:

Over the last 40 years I have seen the benefits that collaborating with various professionals from other fields can achieve in my divorce work. My training and experiences are that of a divorce lawyer, so I know that area of law pretty well. However, many times, creating a multidisciplinary “team approach” with therapists, counselors, financial planners, CPAs, and appraisers can make a world of difference for the client!

So, once Ohio passed the law allowing for creating postnuptial agreements, I reached out to today’s guest contributor, Alyssa Miller. She is the Managing Director of Alternative Divorce Solutions in Centerville. Alyssa and her father and business partner, Ben Feldmeyer, have an excellent reputation in the Dayton community for providing a wide range of financial services and support in divorces, estate planning and other business matters throughout Southwest Ohio.

Alyssa and Ben were very excited after we discussed the potential benefits this statute has opened up in Ohio. Alyssa shares below some thoughts from her perspective as a Certified Financial Planner, Certified Divorce Financial Analyst and a Certified Divorce Coach.

Postnuptial Agreements Help in Ohio: Centerville-Based Alternative Divorce Solutions Provides Financial

Division of Household Goods in an Ohio Divorce

Dividing household goods in a divorce…can’t decide so flip a coin?

A few minutes ago, I happened to hear that old 2006 song, “Give it Away” by George Strait. I listed to the lyrics again and thought, “Why can’t division of household goods in most divorce cases be this easy”?

Here are the lyrics that I am referring to:

She was stormin’ through the house that day
And I could tell she was leavin’
And I thought, “Aw, she’ll be back”
‘Til she turned around and pointed at the wall and said

“That picture from our honeymoon
That night in ‘Frisco Bay
Just give it away”
She said, “Give it away”

“And that big four poster king sized bed
Where so much love was made
Just give it away”
She said, “Just give it away”

Just give it away
There ain’t nothing in this house worth fightin’ over
Oh, and we’re both tired of fightin’ anyway
So just give it away
(SKIPPED A FEW VERSES)

And I said, “Now honey
Don’t you even want your half of everything?”
She said, “Give it away
Just give it away”

Just give it away
There ain’t nothing in this house worth fightin’ over… Read More... “Division of Household Goods in an Ohio Divorce”

If I Make More Money Than My Spouse, Are Things Still Split 50/50 in a Divorce?

Divorce Likely? The Dangers If You Do Not Have a Prenuptial Agreement or a Postnuptial agreement in Place

As a longtime Ohio divorce lawyer, reading the recent comments made by country music singer Kelsea Ballerini about her divorce from Morgan Evans caught my attention. Kelsea complained on a recent podcast that Morgan “took half the house he didn’t pay for” and other things as well. She was upset that Evans (also a country singer) wrote a song and was profiting about him being “blindsided” by their break-up. Click here to listen to his song about it titled “Over for You”. Kelsea’s comments got me thinking and I thought I would write this blog about property division and spousal support in Ohio.

IF I EARN MORE, I SHOULD GET MORE!

I remember back in the late 70’s and early 80’s, men going through divorces commonly expressing this opinion when we met to discuss a potential divorce. Many were not happy to be told that is NOT how it works in Ohio. Back then most men were the primary breadwinners. Often times the agreed upon roles where the man was the primary breadwinner and the wife was the primary caregiver for their … Read More... “If I Make More Money Than My Spouse, Are Things Still Split 50/50 in a Divorce?”

Now That Postnuptial Agreements are Legal in Ohio, Might One Make Sense for You?

Want To Create a Postnuptial Agreement? It is now Legal in the Stare of Ohio.

Postnuptial Agreement can be a very Practical Step to Avoid Confusion if a Marriage Should Terminate

Finally Ohio has joined 48 other states and is now permitting postnuptial agreements to be executed and recognized. This is extremely significant news for married couples in Ohio! Click here to read our blog about this law change which we posted here on February 11, 2023.

WHAT ARE POSTNUPTIAL AGREEMENTS?

Generally speaking, a postnuptial agreement is a tool of protection. It can modify or revoke a prior prenuptial agreement or be drawn to control marital finances and assets in the event of divorce or death. Under Ohio law a spouse cannot be disinherited under a will. Ohio law provides what minimum property a spouse must receive absent a prenup or postnuptial agreement.

KEY PURPOSES FOR CREATING A POSTNUPTIAL AGREEMENT

While married couples generally do not want to contemplate the end of their marriage, executing a postnuptial agreement can be a very practical step to avoid confusion in the event a marriage ends for any reason. It can provide certainty as to individual and joint marital wealth which may … Read More... “Now That Postnuptial Agreements are Legal in Ohio, Might One Make Sense for You?”

Blast From The Past: What is a Divorce Retainer Fee Agreement and What is Its Purpose?

Blast from the past 13 years Ohio Family Law Blog

Divorce Retainer Fee Agreement

PUBLISHER’S NOTE: With the start of the New Year comes a large spike in divorce filings. 2023 is no exception! Clients often have questions about how divorce retainer agreements work. So, I thought it might be a good time to repost this blog from August 8, 2020. Like the cost of many things, the hourly rates and typical retainer amounts charged by divorce lawyers have risen since 2020, perhaps as much as 10+ percent. The other information in the blog is still right on point.

Divorce Lawyers Require A Retainer Fee On Start Of Your Legal Representation

So, unfortunately you find yourself meeting with a divorce lawyer to discuss terminating your marriage. The conference goes well and after careful consideration you decide to hire the lawyer.

HOW DO DIVORCE LAWYERS CHARGE?

When the subject of fees and the attorney’s hourly rate comes up, you will likely hear the request for a “retainer fee“. Most all divorce lawyers will require a retainer fee at the inception of accepting your legal representation. Some, on the other hand will instead request a fixed fee amount rather than one based upon the amount of time and … Read More... “Blast From The Past: What is a Divorce Retainer Fee Agreement and What is Its Purpose?”

A Historical Perspective of No-Fault Divorce Laws in Ohio

The Pros of a No-Fault Divorce Can Cause Positive Ripple Effects

The 1970s-known for disco, bell bottom jeans, lava lamps, muscle cars, the Brady Bunch, Pong, and the first Concorde commercial flight-but what about divorce? In the 1970s a revolution took place in the United States. Not the British Invasion, but rather a divorce law revolution. In the 1970s alone, 37 states amended or repealed divorce laws, now allowing married couples to divorce under a “no-fault” system. Under the old, “fault-based” scheme, one party would have to be found guilty of adultery, abandonment, physical or emotional abuse, or a protracted separation period (at least 2 years), etc.

Generally, under this scheme, if an individual seeking a divorce could not prove that one of the previously listed grounds for divorce was present, American courts would not grant the divorce. Without evidence proving their partner was engaging in atrocious acts, an individual was forced to remain in their marriage. A policy argument in favor for the sweeping change in divorce laws is that under the prior “fault-based” scheme, individuals who wished to divorce often did so through perjury and falsification of evidence to get around the strict statutory requirements.

No-fault divorce laws… Read More... “A Historical Perspective of No-Fault Divorce Laws in Ohio”

Legal Alert: Planning for Parenting Time – Ohio’s Guide for Parents Living Apart

Did You Know? Ohio Supreme Court Chief Justice Maureen O’Connor has Written a Guide About Planning Parenting Time Schedules for Parents Living Apart

Looking for a resource in Ohio to help you design a parenting time schedule that will work best for you, your Ex, and your children? I thought it worthwhile to share this resource with the readers of the Ohio Family Law Blog. This is not a new resource. It was published in 2019 by the Ohio Supreme Court Chief Justice Maureen O’Connor.

I was thinking about her the other day, since I knew she was retiring from the Ohio Supreme Court in January. She has served Ohio for 24 years in various elected State of Ohio offices – longer than any other woman in Ohio. In addition, Justice O’Connor has been passionate about child related issues throughout her career.

She introduced this resource as being “Ohio specific and it is intended to . . . foster fair and creative parenting schedules based upon children’s developmental milestones and best interests.”

Prenting Time Schedule Resource: How To Download “Planning for Parenting Time – Ohio’s Guide for Parents Living Apart”

This Planning for Parenting Time – Ohio’s Guide for Parents … Read More... “Legal Alert: Planning for Parenting Time – Ohio’s Guide for Parents Living Apart”

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