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What Happens When the Super Rich gets Divorced?

What Happens When the Super Rich gets Divorced?

I’m sure you know by now that Bill and Melinda Gates are headed their separate ways. Similar to Jeff and MacKenzie Scott, these two have quite a few assets to divide. While not in Arizona, they are in a community property state, like Arizona. So, what does that mean exactly?

In short, their property acquired during the marriage will be divided equitably. A quick Google search results in the Merriam-Webster definition of equitable as “having or exhibiting equity: dealing fairly and equally with all concerned.” For the purposes of family law in Arizona, it means  essentially equal. Not necessarily 50/50, but somewhere close. Perhaps 45% to 55% or something similar. Equitable is not necessarily equal.

Another thing to keep in mind is that only community property is divided during a divorce. Community property entails the property and assets obtained from the marriage date until the date of service. These dates are important because if you enter into a relationship, but you do not get married, you are not creating community property.

Let me give you a classic scenario. Guy meets girl and they fall in love and live together for 10 years, then decide to get married. After 5 years of marriage, they call it quits. Although the parties have been “together” for 15 years, they will only divide what was acquired during the five years of marriage.

With Bill and Melinda, prior to marriage, Bill had already become a rock star with Microsoft. Bill and Melinda have amassed considerably more funds since becoming husband and wife, but what Bill did prior to marriage, is his and his alone (his sole and separate property).

Keep in mind, you can always agree to almost anything in mediation. I tell folks that it is so much easier to come to an agreement than to let a stranger, the judge, divide the life you’ve built with your soon to be ex – yikes! Based on the type of petition that Bill and Melinda filed, it seems like they’ve already have practically a full agreement.

Perhaps you are like Bill and Melinda and you have a full agreement or are pretty close – we conduct mediations. Even if you and your soon to be ex are worlds apart, we focus on getting our clients to their next best foundation – situated for whatever comes next after this phase of your life ends. Either way, give us a call for a free consultation so we can help chart your course for the future. 480.442.4142

The post What Happens When the Super Rich gets Divorced? appeared first on The Harding Firm.

from The Harding Firm https://www.hardingfirm.com/divorce/what-happens-when-the-super-rich-gets-divorced/

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Navajo Nation Donation Drive

While we adapt to the new normal of participating in court proceedings through a computer and declining in-person meetings, we recognize many others have experienced far more dire circumstances. In that vein, we’d like to do our part. 

In conjunction with other local organizations, we will be collecting the most needed items for people in the Navajo Nation.

Here is some information that you might not know about the Navajo Nation:

* The Navajo Nation is the largest tribe in the Nation. * 30% of their members on the reservation do no have running water. * The Navajo Nation is the 3rd largest area impacted by COVID-19 per capita; only surpassed by New York and New Jersey. * There are only 13 grocery stores, serving 200,000 people; most have been unable to provide the necessities to that community. 

Get Directions to the Harding Firm

Enter your location Enter “Current Location” to get directions from where you are now.

Get Directions to the Mt Calvary Baptist Church

Enter your location Enter “Current Location” to get directions from where you are now.

Please donate if you can.

The post Navajo Nation Donation Drive appeared first on The Harding Firm.

from The Harding Firm https://www.hardingfirm.com/community-support/navajo-nation-donation-drive/

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Custody Guidelines During Covid-19

Custody Guidelines During COVID-19

Spending time with friends and family is very important, especially in a crisis. COVID-19 (Coronavirus), is considered a pandemic. Many people are sick. In some cases, multiple people in the same family are dying. A primary function of parenting is keeping our children safe. Sometimes, we want to protect our child from the other parent. Here are some guidelines to consider when exercising parenting time during the height of COVID-19.

Remember, legal decision-making does not allow one parent to limit the other parent’s access to the child.

Legal decision-making is a parent’s ability to make legal decisions about the child. Think about major medical procedures, i.e. should the child get braces when they are 13 years old, or should they wait until they are 17 years old. Final or sole legal decision-making does not give one parent the right to suspend, stop, limit, or otherwise modify access to the parties’ children.

Keep in mind, this pandemic will end. When it does, you do not want to have to face a judge and explain why you kept your child from their parent. Not only could the judge award the other parent make-up parenting time for the time that you kept the children when you should not have, but you could also face sanctions including thousands of dollars in attorney’s fees for any unreasonable behavior during this time.

Always attempt to come to an agreement with your co-parent.

In an ideal world, both parents want their children to be safe, happy, and healthy. If you have a concern, share it with the other parent. Perhaps you can come to an agreement that would allow you to keep the children longer if they have been possibly exposed to the virus in your care. Even if the other parent does not agree, at least you will have attempted to make the best decision for your children.

When potential clients call the office due to a parenting time issue, one of the first questions I ask is, did you share this with the other parent? I continue to be amazed at how many times people think they will be somehow rewarded for withholding information. You will not be rewarded. The best first solution is to attempt to resolve it with the other parent of your child.

Follow the law.

The Arizona Supreme Court just released new guidelines on what should happen as it relates to parenting time, legal decision-making, and other family law issues. You can read the full release here. Here is the spoiler alert – you must follow the current order. Courts are still open, if only on a limited basis. If you have to go to court during this pandemic, because one parent is not following the rules, there will likely be consequences.

As always, if you are uncertain of what your next step should be, call The Harding Firm. We are here for you. We are essential personnel, which means, our doors will remain open. We will take precautions to keep everyone healthy, including virtual conversations. However, our goal of guiding our community through this difficult time has not changed.

“Choices change lives. Choose wisely.” ~Kina Harding

from The Harding Firm https://www.hardingfirm.com/uncategorized/custody-guidelines-during-covid-19/

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Divorce Mediation Services in Gilbert Arizona

Why Should You Consider Divorce Mediation?

How long after mediation is a divorce final?

Every situation is different, so this is hard to answer as a blanket statement in a blog post. However, mediation, in general, resolves much faster than going to court. If you are looking for the fastest resolution and both sides are willing to compromise, divorce mediation is definitely a path that should be considered. The Harding Firm provides experienced divorce mediation services in Gilbert, Mesa, Chandler, Queen Creek, and the surrounding East Valley.

What happens in mediation?

Mediation is a unique process that is catered to both parties. The parties can meet together, or separately with the mediator. In the beginning, the mediator will explain that this process is voluntary and could result in a partial or full agreement, which can save the parties thousands of dollars. 

Both parties can choose to stay in the same room during mediation, at any time, one party can ask to speak to the mediator privately. Meeting privately with the mediator is called “caucusing.” The goal is to resolve the disputes, in an amicable manner. This process usually results in an amicable result. If at any time a party appears to be under the influence of drugs or alcohol,  becomes irate, or belligerent, the mediator has the authority to end the mediation.

When the parties reach an agreement:

the mediator will record the agreement in the presence of the parties; 

The mediator will write a summary of the agreement; and

Both parties will sign the agreement and receive a copy. 

Both parties will leave with a copy of the agreement. The mediation will end with both parties knowing that they have resolved their dispute without spending additional time and money on litigation. 

Benefits of Divorce Mediation

 We have talked a little bit about the process of divorce mediation. Below are some additional benefits:

Mediation is generally much less expensive than a series of hearings or going through a court trial.

Mediation does not leave a public record and is confidential.

Mediation gives you the opportunity to arrive at a resolution both parties agree to rather than having a solution imposed on one or both parties based on impersonal legal guidelines.

You can still have your lawyer present to give you advice, but if you are looking to avoid additional costs the parties can agree to not have lawyers present. It is generally advisable to have an attorney present, however.

The process is controlled by both parties and not the court.

The process can improve communication between you and your spouse helping to avoid future conflicts especially when kids are involved.

Something important to remember is that you should come to a mediation proceeding with an open mind as you will expect your spouse to do the same. Compromise on both sides of the aisle are crucial to obtaining a successful divorce mediation. Since mediation agreements take on a different nature than traditional divorce proceedings, you should make sure you are working with a lawyer who is experienced in working with divorce mediation. 

  from The Harding Firm https://www.hardingfirm.com/divorce/divorce-mediation-services-gilbert-az/

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Divorce Mediation Expert

Why Should You Consider Divorce Mediation?

How long after mediation is a divorce final?

Every situation is different, so this is hard to answer as a blanket statement in a blog post. However, mediation, in general, resolves much faster than going to court. If you are looking for the fastest resolution and both sides are willing to compromise, divorce mediation is definitely a path that should be considered. The Harding Firm provides experienced divorce mediation services in Gilbert, Mesa, Chandler, Queen Creek, and the surrounding east valley.

What happens in mediation?

Mediation is a unique process that is catered to both parties. The parties can meet together, or separately with the mediator. In the beginning, the mediator will explain that this process is voluntary and could result in a partial or full agreement, which can save the parties thousands of dollars. 

Both parties can choose to stay in the same room during mediation, at any time, one party can ask to speak to the mediator privately. Meeting privately with the mediator is called “caucusing.” The goal is to resolve the disputes, in an amicable manner. This process usually results in an amicable result. If at any time a party appears to be under the influence of drugs or alcohol,  becomes irate, or belligerent, the mediator has the authority to end the mediation.

When the parties reach an agreement

the mediator will read and record the agreement. 

The mediator will write up a summary of the agreement

Then both parties will sign the agreement and receive a copy. 

Both parties will leave with a copy of the agreement. The mediation will end with both parties knowing that they have resolved their dispute without spending additional time and money on litigation. 

Benefits of Divorce Mediation

  We have talked a little bit about the process of divorce mediation. Below are some additional benefits:

Mediation is generally much less expensive than a series of hearings or going through a court trial.

Mediation does not leave a public record and is confidential

Mediation gives you the opportunity to arrive at a resolution bot5h parties agree to rather than having a solution imposed on one or both parties based on impersonal legal guidelines.

You can still have your lawyer present to give you advice, but if you are looking to avoid additional costs the parties can agree to not have lawyers present. It is generally advisable to have an attorney present, however.

The process is controlled by both parties and not the court.

The process can improve communication between you and your spouse helping to avoid future conflicts especially when kids are involved.

Something important to remember is that you should come to a mediation proceeding with an open mind as you will expect your spouse to do the same. Compromise on both sides of the aisle are crucial to obtaining a successful divorce mediation. Since mediation agreements take on a different nature than traditional divorce proceedings, you should make sure you are working with a lawyer who is experienced in working with divorce mediation. 

from The Harding Firm https://www.hardingfirm.com/divorce/divorce-mediation-expert/