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Columbus, Ohio, Family Law Blog

Locating and valuing cryptocurrency assets in a divorce

Investors in Ohio and around the country have taken an interest in cryptocurrencies in recent years for several reasons. Alternative currencies like Bitcoin exist outside the realm of government regulation and can be purchased and transferred easily. These benefits have also made them a popular way for high-net-worth individuals to conceal their assets during divorce cases. When dealing with marital estates that include or could include cryptocurrency holdings, the biggest challenges facing divorcing spouses and their attorneys is locating the assets and then placing a value on them.

When cryptocurrencies like Bitcoin are acquired using an online exchange, they are harder to conceal and can usually be located by examining bank records. However, when these assets are purchased directly and then transferred overseas, finding them is extremely difficult. This is partly because the kind of individuals who engage in this type of behavior tend to be shrewd and careful, which means that they rarely leave a paper trail or electronic fingerprints.

Avoiding co-parenting arguments

Ohio residents who have to co-parent should expect to disagree with their children's other parent at least occasionally. However, they should understand that their focus should be on what is in the best interests of their children. If certain issues arise in their co-parenting relationship, there are some steps that parents can take to overcome the conflicts.

It is not uncommon for co-parents to disagree about parenting time. It should be expected that parents will want to spend as much time with their children after the divorce as they did before the divorce. Co-parents should also keep in mind that parenting time does not include the time their children are occupied in school and with activities. In order to avoid conflicts, both parents should work with one another to devise a formal parenting plan, and they should review and update it annually.

How parents can seek the support they are owed

Ohio residents and others who are owed back child support have the right to seek it from the noncustodial parent. Those who choose to pursue back support must show several different forms of evidence to a judge to successfully do so. If the noncustodial parent is a male, he must know that he is the father of the child. In any case, a custodial parent must show that he or she made an effort to collect the money owed.

Finally, it must be shown that the noncustodial parent has not made any payments in a significant amount of time. If a parent has moved to different states to avoid providing financially for a child, it may be necessary to resolve the matter in federal court. A federal judge will first have to determine if it is not possible to do so at the state level.

Revealing hidden money during divorce property division

Financial issues often lead to divorce for Ohio couples, and they can also reflect some of the most important and contentious issues raised as part of a settlement. Unfortunately, some people may seek to avoid providing their spouses with their fair share during the property division stage by hiding assets in secret accounts or undisclosed investments. Unraveling these types of financial schemes can be complex and may cause the divorce process to take longer than necessary.

However, people can often learn more about their spouse's finances by going through their most recent tax returns. These documents can provide a wealth of information about the current state of household finances as well as many assets that may go otherwise unmentioned. Even during a divorce, some people who may not hesitate to lie to their spouses may be wary of doing so to the IRS. They may even overpay their taxes in an attempt to hide money. Professionals may make excessive tax prepayments without filing returns. However, the payers could file their returns later and claim the excess funds. People can discover this scheme by looking for recent tax returns and insisting on timely filing each year.

Decide what major issues you have to battle for during divorce

When you are going through a divorce, it is easy to think that you need to have everything your way. The issue with this is that you aren't usually going to get that. Instead, you and your ex will each get some of what you want, but likely not everything.

One thing that you can do when your marriage is over and you are going through this process is to decide what is truly important. This isn't always easy to do, but making your plan from the start gives you something to focus on when you are in the midst of mediation or litigation.

Advantages of having a prenup for a second marriage

Some Ohio couples may think of prenuptial agreements as largely being about how property will be split in case of a divorce. This is one reason people might be more likely to want a prenup if they are older and going into a second marriage, but prenups can offer other valuable protections as well, including for children from former marriages.

Many older couples may have accumulated significant assets that they want to protect if the marriage does not work out. A prenup can help ensure that they leave the marriage with the same assets they brought into it.

When a parent is denied visitation rights

For an Ohio parent, being denied visitation rights for their child can be an unbearable experience. It doesn't matter if the one denying visitation is the courts or the ex-spouse, there may be strong emotions involved. The spouse who is being denied visitation may want to take definitive measures in order to get custody. Before they take any action, they should try to understand why they are being denied visitation and then based on that create a plan of what to do next.

It is rare for a court to deny a parent complete visitation. One exception could be if the courts feel that allowing a child to visit a parent is a safety risk. The courts strive to put the best interests of the child first. If there is any indication that a parent may physically or emotionally harm a child, then all visitation may be denied.

When child support payments become too costly

Child support payments in Ohio are intended to ensure that both parents participate in their child's development based on their income and ability. It is not designed to punish parents but to enable children to grow and live well. While initial child support calculations are generally based on the parents' income, financial situations can change while an order remains in effect. As a result, some parents may suffer extensively and face the potential for serious penalties, even though they truly cannot afford to meet the payment schedule.

While some parents fail to pay child support due to neglect or anger, others are not able to make ends meet. They may face significant expenses for other children or high medical costs; in many cases, people lose their high-paying jobs and are unable to find new work that pays equally well. It is not uncommon for people to have problems paying child support; after all, only 45.3 percent of all custodial parents receive the full support amount due each month.

Priorities when creating a parenting schedule

When divorcing couples in Ohio are putting together a parenting schedule, they should not prioritize their own desires. Instead, the plan should be designed with the child's own schedule in mind. It's also important to account for where each parent lives and how far they are from the child's school.

Parents should try to look at the situation from the kid's point of view. Some exes may be tempted to approach the parenting schedule as a win/lose situation, but the schedule is there to help the child keep a relationship with both households. Older children may want their preferences included in the planning. Furthermore, parents may need to make accommodations for children with special needs.

How a court determines the best interests of the child

Parents in Ohio who are getting a divorce and who cannot come to an agreement about child support may have to go to litigation. The court attempts to make a child custody decision that is in the best interests of the child. A judge will take a number of elements into consideration when making this decision.

First, the judge will consider the physical and mental health of each parent and how much each parent is able to provide support for the child. This includes physical things, such as clothing and food, as well as emotional support and access to education. A judge will try to minimize both major and minor disruptions to the child's routine. The age of the child and which parent is the main caregiver are also factors. Older children may give some input into the custody and visitation arrangement. A judge will also prioritize the child's safety.

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