There is no one-size-fits-all family in Rhode Island. Everyone's family is a little bit different from the next. Therefore, each family has slightly different issues and concerns. In most situations, there are varying personalities, concerns, issues and histories that have to be accounted for. Families often disagree as much as they love each other. With so many moving-parts, family dynamics can be complicated and difficult for those unfamiliar with the family to understand.
In a Rhode Island Divorce, marital assets are equitably divided. So are marital debts. Marital assets are those acquired during the marriage and it does not matter if the asset is in joint names or only the name of one of the parties.
One of the most expensive and valuable pieces of jewelry an individual will have in his or her lifetime is a wedding ring. A married couple will accumulate many assets over the course of their marriage. However, in the event of a divorce, the division of property can be one of the most complicated and challenging tasks the couple will face.
More and more Rhode Island divorce and mediation clients arrive with the statements regarding their bank accounts, retirement accounts and believe that since the account is in his or her sole name, that it is not a "marital" asset. Unfortunately, unless there is a prenuptial agreement in place with appropriate provisions, I need to discuss with them the nature of divorce law in Rhode Island.
Rhode Island residents who are divorcing are probably wondering how their split will affect their finances. Unfortunately, divorce had a negative impact on the financial situation of former "Nip/Tuck" star Dylan Walsh. His split is going to cost him approximately half of all of his assets, including money made from the show "Nip/Tuck." The divorce between Walsh and his actress ex-wife was finalized last week, and according to the divorce documents, Walsh has agreed to pay his ex-wife half of his royalties from the show along with royalties from a couple of his movies.
As Rhode Island readers know, in many divorce cases, one of the issues that must be resolved is asset distribution. In matters of family law, particularly divorce and legal separation cases, property division must usually be decided before a court can issue a final order. In cases where couples have amassed substantial wealth, it can be difficult to reach an agreement as to how those assets will ultimately be distributed.
A growing concern for Rhode Island residents seeking a divorce is who will get custody of the family pet. Divorce attorneys say that decisions about who gets the family pet is becoming a more common issue that can make or break a divorce settlement. Some attorneys are even suggesting couples make arrangements regarding their pet in prenuptial agreements.