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Both a will and a trust dictate the distribution of assets, but a will operates after death, while a trust can manage assets during life and after.
There are various legal strategies, such as prenuptial agreements or trusts, which can safeguard assets from being subject to division during divorce proceedings.
Intestacy laws may distribute assets among surviving family members but potentially exclude stepchildren or unmarried partners. This emphasizes the importance of having a will. It is generally much less expensive for your heirs to probate a will than for them to deal with intestacy.
Yes, it is crucial to update your will after a major life change, such as a divorce, to reflect your current wishes and ensure former spouses aren't your beneficiaries.
Joint custody typically involves both parents sharing the decision-making responsibilities and physical custody of a child, fostering cooperation and involvement in their life. Joint custody does not necessarily mean that there won't be child support, nor does it guarantee 50/50 possession of the child.
The courts consider numerous factors, including the child's best interests, parental involvement, stability, and each parent's ability to provide a safe, nurturing environment.
In some jurisdictions, yes, grandparents may petition for visitation rights if it is in the best interests of the child and their relationship with their grandparent is beneficial.
Asset division depends on whether or not the divorce is based on fault. It can vary by jurisdiction but typically a no-fault divorce involves equitable distribution, where marital property is divided fairly but not necessarily equally.
Contesting a will can lead to legal challenges, requiring proper evidence to support any claims of undue influence, fraud, or lack of testamentary capacity.
Establishing trusts or designating guardianship in your will can make sure of your children's financial security and well-being in the event of your passing.
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