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Recent Blog Posts
Issues to Address in a High Net Worth Divorce
Property division is a component of any divorce, and in a high net worth divorce, this issue can be complex and hotly contested. Such divorces may require the assistance of forensic accountants to review voluminous financial documents and tax specialists to determine the tax costs and implications of dividing or transferring ownership of property.
Dividing Large and Complex Assets
It is usually accepted that a high net worth divorce involves liquid assets totaling more than $1 million. Those who fit this description often have a variety of businesses and accounts that have been created in order to take advantage of tax laws as well as to diversify assets.
In all cases of asset division, an attorney will first seek to identify what property is part of the marital estate. In Wisconsin, any property acquired or income earned by either spouse during the marriage is considered community property.
Resolving Issues Involving Contested Estates in Probate Court
An estate may be contested when an interested party (such as one of the beneficiaries) objects to using the will to distribute an estate, in whole or in part. Such objections can lead to significant delays in distributing the property to heirs, so it is important that parties to such contests be represented by qualified legal counsel who can move the process along in a timely fashion.
Because the testator (the person who made the will) is dead during the probate process, proving what he or she intended at the time the will was signed can be difficult, although not impossible.
Common Challenges Made in Probate Court
Estate administration is complex, because no two wills and no two estates are alike. There are, however, common issues that are raised in probate court related to contesting a will. These include:
Issues to Be Aware of When Drafting a Business Contract
A business is only as strong as the contracts it enters. There are many ways that a business contract can be detrimental to a company: it can favor the other side, it can be unclear from a legal perspective, it can be vague, and it can leave out key terms. Many business owners fall victim to using a template contract found online that is not properly tailored to the parties and their unique situation.
On the other hand, a well-crafted contract can be an important asset to a business, giving the business stability. It should be noted that there are many ways a business contract can be poorly constructed, and those business owners looking to enter into a contract should be aware of these areas. Contract issues that commonly affect business owners include:
- Too much legalese. If you do not understand the terms of the contract because legal jargon is used, this does not mean the contract is a good one. A good contract should be readable and understood by the parties. There may be a term or two that will need to be explained to you by a lawyer, but on the whole, a good contract should be understandable.
Calculating Child Support in a Wisconsin Divorce
Determining child support is an important component of the divorce process for couples who have children. Child support is seen by the courts as a way to protect children from the economic instability that could come from divorce.
Child support should be used to meet all of the child’s needs, such as housing, food, transportation, and medical care. It should also be used for items that may not be necessities but are things that the child became accustomed to during the marriage, such as camps and extracurricular activities.
If you are in a situation in which one parent has the children less than 25 percent of the overnight stays each year, then that parent will be the paying parent, and his or her income will be used. Child support will be calculated based on the following percentages of the paying parent’s gross income:
Avoiding Car Accidents During the Winter
Learning to drive in Wisconsin’s winter weather is a skill unto itself. Snow, ice, and freezing temperatures all increase the difficulty level of driving and, unfortunately, they also increase the chances of a car accident.
Anyone getting behind the wheel this winter should familiarize themselves with the following tips in order to keep the roadways safe for everyone:
1. Use the Right Equipment
Winter tires are recommended in temperatures less than 44 degrees. Many people operate under the false notion that all-season tires are able to adequately handle winter driving. However, the rubber compound in all-season tires begins to freeze when temperatures go below 44 degrees. This means that such tires will be less effective at gripping the road. If you do not have winter tires, proceed with caution and the understanding that your car may not be able to handle all winter road conditions.
Making Modifications to Your Divorce Decree
As the saying goes, the only thing that is constant is change. While your initial divorce decree may have worked for you and your family at the time, these orders may need to be updated throughout the years, and it is important for divorced spouses to understand the processes that must be followed when making post-divorce modifications.
People may seek changes to child custody, child support, and spousal maintenance orders. Circumstances leading to a change in child custody orders include:
- Parent relocation
- A parent re-marrying and/or the addition of half-siblings or step-siblings
- Changes in children’s schools
- Changes in children’s extracurricular activities
- The emergence of a child’s medical condition
Alimony and child support modifications may be granted if there has been a change in the payor’s income. Child support modifications may also be granted if the child requires more or less support or if changes to child custody arrangements have increased or decreased the amount of time a child spends with a parent.
What Is Embezzlement? Understanding Criminal Charges in Wisconsin
By Ray Dall’Osto
If you pay attention to the news, you will often see stories about an employee being charged with embezzlement. A common embezzlement fact pattern involves an office manager or bookkeeper who is accused of diverting their employer’s money to his personal account, often in small increments over a long period of time, or charging and purchasing personal items using the employer’s credit. Another situation involves a company officer, attorney, or trustee who diverts funds they are entrusted with for their personal use or for another, without the company’s or client’s knowledge and permission.
By the time the employer or entity detects possible impropriety and embezzlement, thousands to millions of dollars will have gone unaccounted for. A 2017 study of embezzlement cases nationally found the median loss to be at $300,000 and the average loss over $1 million.
4 Common Types of Employment Disputes
Whether you are an employer or employee, you have rights under state and federal law, and you may also have rights which were contractually established in your specific situation. Here are four types of disputes that often arise in the area of employment law:
1. Wrongful Termination Allegations
Wrongful termination cases can be some of the most difficult and emotionally-charged employment law disputes. These cases often put an employee’s work on trial. It should be noted that Wisconsin is an at-will employment state, meaning that an employer may terminate any employee for any reason so long as there is no contract in place and so long as the employer does not violate certain discrimination and retaliation laws.
2. Wage Disputes
When Will Alimony Be Awarded in a Wisconsin Divorce?
Divorce is common in the United States, and every day, people choose to end their marriages for a variety of reasons. However, many people choose to say married for financial reasons. When two people have merged their lives, one spouse may become financially dependent on the other, and in these cases, the dependent person may believe that he or she has no option other than to stay in the marriage despite wanting a divorce.
In this scenario, Wisconsin courts will entertain a request for spousal maintenance, which is commonly referred to as alimony. A spouse may seek spousal maintenance regardless of how the marriage ended.
It is important to keep in mind the purpose of alimony. Spousal maintenance is not meant to punish a party. Rather, it is meant to support one spouse and allow them to maintain the standard of living they were accustomed to during the marriage.
5 Ways Streetcar Accidents Happen
Milwaukee recently began operating a streetcar line, known as The Hop. The Hop now runs on a 2.5-mile loop through downtown and the Historic Third Ward. While streetcars provide a valuable form of transportation, they also present specific safety risks, and they can cause serious bodily and property injury.
Unfortunately, the risk of accidents can be higher when a streetcar system first begins operation. Necessary safety precautions may not be implemented, and drivers can be inexperienced. In addition, motorists may not be used to sharing the road with the streetcars. Victims of streetcar accidents may include streetcar passengers, drivers and passengers in a vehicle that collides with a streetcar, and pedestrians and bicyclists traveling near the tracks.
Here are five ways a streetcar accident can occur:
