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collaborative divorce

What Happens to Your Student Loans During a Divorce?

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If you are in the process of getting a divorce, you know how emotionally and financially taxing the process can be. Doing things like dividing up assets and debts, determining custody, and figuring out how to do it all without losing your cool can be incredibly stressful. If either you or your spouse has student loan debt, it can be even more complex, particularly if that debt was incurred after the marriage.

Student Loans in Divorce

During a divorce, assets and liabilities are split either equitably (according to what is fair, which may not be 50-50) or equally (arbitrarily 50-50). The split depends on whether your state is a community property state, meaning you can expect a 50-50 split, or an equitable distribution state which was the other scenario mentioned earlier.

But while knowing the basic laws of your state is helpful, the real question boils down to when student loan debt was incurred: either pre- or post-marriage.​

Pre-Marital Student Debt

Student loan debt does not magically become shared debt or community property once a couple is married. Student loan debt “stays” with the individual who took out the loans if it was incurred before the marriage.

For example, if you went to dental school before you were married, then don’t expect to have your ex-spouse footing half of the bill. He or she will not be responsible for any debt incurred pre-marriage. The only exception is if you had a prenuptial agreement that specified the student loan debt would become a marital debt.

Read the Full Article: lendedu.com

5 Pieces Of Parenting Advice To Help Children Adjust Post-Divorce

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By Joshua Stern
Now that you’re divorced, you may be wondering how your role as a parent must change. The truth is it doesn’t need to change much if at all. Instead, you now need to consider your parental role in light of the new relationship you have with your ex as co-parents, and how each of you can make your children’s adjustment to your divorce as seamless as possible. It may mean not fixing what’s not broken and, on the flip side, fixing what may be very broken, like the way in which you relate to your former spouse.

As a divorce and family law attorney who has counseled hundreds of clients through their divorces, I am comfortable sharing a few pieces of wisdom I have gleaned about how to create an easier transition for children of divorce when the dust does finally settle. Whether you were involved in an amicable or high-conflict split, as parents it is incumbent upon you to see your children through this difficult time with as little disruption as possible. Here’s how.

1. Be consistent. Creating stability post-divorce is critical. As children begin traveling back and forth between two houses, it is important for them to know what you expect of them. Establishing a unified set of rules, such as a curfew, bedtime, and time allotted for playing video games will go a long way toward easing insecurities that may arise when one household splits into two. Children crave structure and will strive to meet your expectations—as long as they know what they are.

2. Don’t disparage. You may think your spouse is evil but to your children, your ex is someone they love. As children grow up and become independent, they struggle to reconcile their identity with where they came from and what qualities they have inherited from their parents, physical or otherwise. Do your best to keep such conversations at bay, remembering that when you criticize a parent, you are inadvertently criticizing the child.

Read the Full Article: Huffingtonpost.com

Cameron Crowe, Nancy Wilson Divorcing

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Director Cameron Crowe and his wife, Nancy Wilson, filed divorce papers this week in Los Angeles. Wilson, a member of the rock band Heart since 1974, technically filed the divorce petition (available at TMZ.com) but it appears to be a collaborative divorce in which both parties have worked together to settle all related matters prior to filing in court.

Wilson, a singer and songwriter from the rock band Heart, filed divorce papers Thursday in L.A. County Superior Court, citing irreconcilable differences. She lists June 15, 2008, as the date of their separation.

Crowe and Wilson first met in 1982. That same year, she made a brief appearance in Fast Times at Ridgemont High, a film written by Crowe. (Crowe went on to write and direct movies like Say Anything, Singles, Jerry Maguire, and Almost Famous.) They married on July 23, 1986.

The couple have 10-year-old twin boys, William and Curtis. Crowe and Wilson have apparently agreed to joint physical and legal custody of the children. It also appears that they have agreed that Crowe will pay Wilson spousal support.

California’s Family Code, Section 2013 provides:

(a) If a written agreement is entered into by the parties, the parties may utilize a collaborative law process to resolve any matter governed by this code over which the court is granted jurisdiction.

(b) “Collaborative law process” means the process in which the parties and any professionals engaged by the parties to assist them agree in writing to use their best efforts and to make a good faith attempt to resolve disputes related to the family law matters as referenced in subdivision (a) on an agreed basis without resorting to adversary judicial intervention.

Our guess is that Wilson and Crowe, quite admirably and maturely, were able to spend the time since their separation discussing and mediating how best to handle the custody of their children and division of their substantial marital assets.

Almost all of Crowe’s film successes came after the couple was married – thus, making the proceeds of those efforts community property. Heart had tremendous success in the late ’70s, prior to the marriage. It is unknown though how the proceeds of early Heart hits compare to those that came in the late ’80s (during the marriage). Heart has continued to record and tour until today (they actually just released a new album which debuted at #10 on the Billboard album chart). Wilson also wrote and scored for the soundtracks to several of Crowe’s films.

All of that is to say that division of the couple’s marital assets could not have been a simple process. Kudos to them for engaging in the collaborative process and keeping it away from trial and out of the tabloids.

Library Topics: divorce, collaborative divorce, custody, spousal support, distribution of assets, marital property, community property, California family law

Article source: myfamilylaw.com