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Indianapolis Legal Blog

Negotiate a commercial lease with your best interests in mind

When you find the right place from which to operate your business, you may feel the need to rush forward and sign the lease agreement as soon as possible. After all, it's difficult to find commercial space that's in your budget and suits the needs of your Indiana small business. However, there are several reasons why you may want to slow down and negotiate the terms of your lease agreement before signing.

You may not realize that it is possible to negotiate the terms of these contracts. Landlords may have agreements already written, but that does not mean that you have to sign it as is. Doing so could expose your business to unexpected financial loss and complications in the future. You will find it beneficial to learn more about what should be in this agreement and how you can protect the interests of your company.

"Gray divorce" becomes a more common choice

In Indiana and across the country, the overall divorce rate has been declining for over 20 years. The opposite, however, is true for Americans over the age of 50. Between 1990 and 2010, the divorce rate for this sector doubled, and this trend shows no sign of stopping. "Gray divorce" has become a major phenomenon, especially as people lead longer, healthier lives. However, there are also serious financial and legal considerations that can come with it, especially when retirement accounts are a concern.

Researchers say that there are a number of reasons why people are increasingly choosing to divorce later in life. Social attitudes toward ending a marriage have shifted significantly in the past decades, and today's older generations are the same people who made divorce a more common and acceptable solution. Some of the older couples choosing to divorce are not ending long-time marriages; they may be ending a second or third marriage after a previous divorce. These are often are two-income marriages, and people may feel less trapped in unhappy relationships than they did in the past. Other couples who raised children together may decide to divorce after their kids leave the home.

Divorcing without unnecessarily traumatizing the children

The end of a marriage can have a significant emotional impact on both a parent and a child. However, it is a parent's responsibility to ensure that a son or daughter is able to adjust to his or her new reality. Ideally, Indiana residents and others who have ended their marriages will make decisions that are in the best interests of their children. For instance, it can be alright for a divorced couple to have dinner together with their kids.

It can also be a good idea for children to spend the holidays with both parents if possible. Doing so can make the child happy and remove the stress that can come from trying to plan multiple family parties or other holiday events. Generally speaking, a mother or father should encourage his or her child to have a relationship with that child's other parent.

How members of an LLC receive compensation

Owners of a Colorado limited liability corporation may be treated as a sole proprietor or a partnership for tax purposes. The specific tax rules that the owner of an LLC will follow depend on how many members the corporation has. If an LLC has a single member, it will be taxed as a sole proprietorship by default. If the LLC has multiple members, it will be taxed like a partnership by default.

The LLC operating agreement will determine how ownership of a company is split between multiple owners. It is important to note that the LLC could opt to be taxed like a corporation. In such a scenario, a member may be treated like an employee. This means that the company itself will withhold FICA and income taxes on behalf of that person. If a business chooses not to be treated as a corporate entity, profits will flow through to a member's individual tax return.

Post-divorce parenting plans

Many divorced parents in Indiana are concerned about maintaining relationships with their kids. However, divorce doesn't have to destroy the bonds between children and their parents. Parenting plans offer a way for exes to work together and ensure that each household has time with the kids.

Divorce usually is the result of conflict between spouses, so the work of developing a parenting plan can be challenging. When both parents are willing to consider what is in the children's best interests, however, they may find that they are able to put aside differences and work together.

Hidden assets can negatively impact property division

When you go through a divorce, your financial interests are at stake. You understand that it is important to secure terms that allow you to have a strong and prosperous future, and this is contingent on a reasonable property division order. However, it's difficult to get a fair division of marital property if your spouse is trying to hide assets. 

Hidden assets can make the property division process remarkably complicated. You cannot get a fair share of assets if you cannot account for them. If you suspect that your spouse is acting unfairly and not disclosing important information, there are certain steps you can take to protect your long-term interests. When it's your future on the line, you don't have to fight back alone.

Handling retirement accounts during divorce

Indiana residents who have decided to get divorced will need to divide their assets, including retirement accounts. This can create anxiety, particularly as people worry about their financial stability after retirement. While each case is different, unless there is a prenup in place, the court will usually set how the retirement accounts of divorcing couples will be divided as retirement account savings are considered marital property.

Courts do not always Divide retirement accounts equally. Instead, it may be determined by how much each person earned. Another factor will be how much money one put into their spouse's IRA. This particular amount will be deducted from the amount that they'll need to share with their ex-spouse from the retirement accounts. As divorce proceedings are beginning, a QDRO, or Qualified Domestic Relations Order should be obtained from the court. This order is taken to the spouse's employer to allow their retirement administrator to transfer the funds set by the court to their own retirement account without any penalties. It is a good idea to do this as early as possible because a person can cash out their retirement account before the divorce process happens and leave their ex-spouse without anything.

The Hague Convention and international custody disputes

When parents are going through a divorce and one is from another country, that parent may take the children to that country in an effort to obtain custody. When this happens, parents may find themselves in an international custody dispute. The first step for parents in Indiana may be to find out whether the country is a signatory to the Hague Convention.

The Hague Convention on the Civil Aspects of Child Abduction has been ratified by more than 90 countries. According to the Hague Convention, the law of the country that was the child's habitual residence prevails in international custody cases. However, determining what country fits this label may also be in dispute. The Hague Convention is designed to provide a swift resolution to international custody disputes and quickly return a child to the custodial parent, but in practice, the situation can be complex. Parents in foreign countries should be aware that the law of that country may govern the final decision. For example, unmarried fathers may not have any custody rights in some countries.

Positive parenting no matter the location

Indiana parents who split up might find themselves in the difficult position of having to maintain a positive parent-child relationship from a distance. This is the case for many parents who after separation or divorce need to move away for career or personal reasons, and they might question how to keep their relationship with their children as close and supportive as it was before.

While distance does create some difficulties, these challenges can be overcome so that that the relationship between the parent and their child can continue in a healthy and loving manner. Maintaining open channels of communication is important, and parents should take advantage of the many platforms they can use to stay in touch with their children over long distances, such as email, Instagram and Skype. While regularly scheduled calls can be part of the plan, calling or contacting their kids at different times just to check in with them and offer them support can also help.

When and how can you change your child support order?

Your divorce was final a long time ago, bringing significant changes to your life. You may find that these changes did not really stop once you signed the papers, but instead, you've endured various adjustments and new circumstances since then. This is normal, as it can take years to adjust to a post-divorce life.

However, there are times when these changes have a significant impact on a person, ultimately affecting how he or she can meet divorce-related financial obligations. You may be in a place where you cannot make your child support payments or you need additional child support from the non-custodial parent. There are times when the law allows for the modification of an existing court order, providing you with the opportunity to get the chances you need.

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Katzman & Katzman, P.C.

Katzman & Katzman, P.C.
3500 Depauw Blvd., Suite 2100
Indianapolis, IN 46268

Toll Free: 866-557-8841
Phone: 317-973-0881
Fax: 317-872-5769
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