College in Relation to Child Support and Divorce

Many divorced parents often wonder whether or not they are required by law to pay for the education of their child. The answer ultimately depends on the state that the divorce has taken place in, for instance a Travis county divorce made in Texas will have different regulations than a divorce that took place in California.

Depending on if your divorce state has a law that gives the courts the authority to award post-secondary support (which is also called college support or post-minority support), you may be required to pay all of your child’s university education or only a portion of it. College support can be paid in addition to child support, or may be paid as a part of it, or as a separate payment after the ending of regular child support. The payment can be applied for any type of post-secondary school or institution including colleges, Universities, and vocational schools.

A court that has the power to order post-secondary support usually takes several different factors into consideration when actually ordering you to give college support for your child. These factors can include the financial resources of you and your ex, the resources of your child, the expectations you and your ex had for your child, you and your exes education level, whether or not the child had siblings that attained a post-secondary education, and the age of the child. Even though these factors vary in different states, each one will generally play a role in the process of the court’s decision making.

If you and your ex got divorced in a state that doesnít have a law that gives the courts the authorization to order post-secondary support, you can still agree to pay for college support. If this is the case, than the agreement has to be in writing, and must specifically and clearly describe each of the parent’s responsibilities for payment. There are also certain limitations that might be applied to the provisions in a typical divorce agreement for college support.

An example would be limiting the obligation of payment for support to a set number of semesters. Or another example could be putting a cap on the annual payment that either spouse has responsibilities for. Describing what will be included and covered under support payments is determined as well. Also taken into consideration is the effect that any grants, loans, or scholarships will have on the support.

There are many parents that want to know the responsibilities of the child when it comes to college. The answer ultimately depends on which state you got your divorce. An Austin divorce will have different approaches than a divorce made in Florida. Some states have requirements that a child has to meet in order to qualify for post-secondary support. These requirements can include; enrollment in an educational system that is post-secondary, enrolling in a certain number of credit hours for each semester, continued enrollment, and actual course attendance.

If you have been ordered to pay for support for your child’s post-secondary education and your child does not meet some of the requirements, do not think that this means you are not required to pay anymore. In order to be officially relieved of any sort of legal responsibility to pay, it may take a court order or the completion of an express agreement between you and your ex spouse.

The Divorce Trial Process

Going through a divorce can be a harrowing experience, from the very first stages up until the end of the court hearings. If the case goes to trial it is just one part in the overall divorce process that both parties must deal with.

Prepping For The Trial

Beginning with the overall end in mind, preparation for the trial should start before the first pleading is even filed. The issues of the case should be acknowledged within the first meetings shared with the client, and revised throughout the entire process. In the first stages of representation, instructions should be made clear to the client by the Austin divorce lawyer as to whether certain facts are relevant or not, in order to minimize any information that may be too excessive or unnecessary to the court. Minute matters should not be the focus of the case, and should receive little attention. The client should be told by the lawyer to focus only on the areas that will enhance what the court is going to asked to conclude.

The Examination

Generally speaking, undergoing the processes of testifying does not come as second nature to the majority of people. The credibility of the witness depends just as much on their demeanor as it does on their actual testimony. The Austin family law attorney should work with the client in order to develop a testifying pace that is both comfortable as well as effective. The development of the testimony should focus primarily on only the important details of the case, and generally disregard any minor matters. Beforehand, the lawyer should determine which parts of the testimony are significant, and plan to get to them quickly in order to further develop it.

Although a client might find a guideline on the subject issues that will be addressed during the examination helpful, they should not be provided a script of answers and questions. Using a pre-rehearsed script not only sounds forced, but can become complicated when questions are asked in a different order and objections are lodged.

The difference between a client who is prepared versus one that has just memorized a script, is that a prepared client will be able to move through the procedures with relative fluidity. Someone who has just memorized a script of answers may be thrown off kilter if the script is not followed with precision.

The Cross Examination

Frequently overlooked by many divorce practitioners is the reaction and behavior of the client during the oppositionís testimony. It is a fact that good judges evaluate the clientís demeanor during the spouseís testimony. Someone who doesn’t remain calm and reserved during their former spouseís testimony may cause an unfavorable reaction by the judge. Alternatively, a client who remains under control and reserved is preferred in the eyes of the judiciary.

Reinvent Your Failing Business or Die

The story of real estate sellers and brokers struggling to survive is not a new story. One woman by the name of Debra Du-neier, however, decided to drop her flagging luxury real estate business and opted to launch an interior designing business combining feng shui, green living and environmental psychology.

Her new business is thriving, and it’s all thanks to her willingness to reinvent herself.

This is, of course, actually harder than it sounds. You’ll have to spend time, money and effort re-educating yourself to start a new business. That’s not something everyone is able or willing to do, but is nonetheless essential if the main business is being hammered too hard by the economy. This is especially problematic for those that have financial and social responsibilities to fulfill.

The sooner you act, however, the less painful the transition will be. Just preparing and looking for alternative lines of business to dip your fingers into is a pretty good idea – even if your current business is doing quite well.

The gloom and doom of the economy might well last for a handful of years more, so it is better to come up with a plan rather than be blindsided by a sudden failure in the business.

When Unsold Inventory Does More Harm Than Good to Your Business

A hundred dollars you can spend is definitely better than a million dollars that you can’t spend. This is a lesson many business owners need to remember, especially when their shelves are full of unsold inventory that is clogging up capital.

The problem here is when nobody is buying items that take up shelf space but are not being moved around. Sure, those bits of jewelry should be sold for $500 each or that retro stereo set should sell for $250, but those items are worth nothing if absolutely nobody is buying them.

It is for this reason that entrepreneurs must learn how to cut their losses and get rid of their unmoving stock even at a loss. Doing so will free up precious space for selling other hotter items while sending a signal to customers that business is brisk and strong in your establishment. Doing so also orients your businesses’ objectives from “getting rid of excess stock” to “actively meeting customer demand.”

Know what your customers want, ask for what your customers want and get rid of everything else. You’d be surprised at how effective this is during lean economic times. People are tightening their belts and buying only what they need and want – in that order – so make sure you meet that demand.

One Simple Lesson in Avoiding Personal Liability in Business Transactions

Don’t sign your name to any contract – sign as a representative of your business.

No, seriously. Using your name and signature in a contract can be used later on to point liability to you should things fail. If you must sign contracts, then use the following outline:

(name of the company)
By: (your name and signature)
Its: (your position in the company)

Make sure to use the above format when signing business contracts as this will effectively allow you to sign not as yourself but as a representative of your company or business.

This is something both employees and small business owners need to remember, as some unscrupulous individuals will try to use this trick to place all liabilities on the shoulder of an individual instead of the company.

For example, your boss or someone you work with could try to get you to use your personal signature on a document or contract where you’re supposed to represent the business. Sneaky, yes, but rather effective in court.

You can always choose to personally guarantee a contract, which is sometimes useful in certain business-related situations, but at least you will be fully aware of your decision and not end up paying for something you’re not supposed to.

Longer Life a “Financial Risk” Most Seniors Are Not Prepared to Handle

People are gunning to live as long as possible, but that long life would be extremely difficult if it is not supported by the proper finances.

The 2011 MetLife Retirement Income IQ survey shows that 62% of the respondents were aware of the more important costs associated with longer lives. Other results, however, show a lack of actual knowledge of financial options available to them.

In the survey, 54% were not aware of home equity loans while 55% were unaware that they need about 80-90% of their income to retire comfortably. 30% believed they could sustainably withdraw 7-10% of their savings a year when withdrawing 4-6% a year is recommended by experts. 17% of those surveyed knew that delaying their collection on Social Security by three years will add 24% to the total amount they would receive.

A mere 1% have taken out a home equity loan or tapped into their home equity in one way or another.

What is most disturbing, however, is that 42% of all Americans believe that Medicare, health insurance or disability insurance will cover the full costs of long-term care.

The growing number of upcoming retirees needs to know how to better manage their finances, lest they find themselves penniless at a time when they can least afford to be.

Fraud Ring Broken Up in the Largest US Identity Theft Case So Far

Internet fraud and identity theft may be rife and getting more dangerous as time passes, but it is somewhat comforting to see major rings get bust up from time to time.

New York authorities have said that 111 people from five criminal groups in New York have been indicted in what is being claimed as the “largest identity theft case” in the history of the United States of America – the product of a two-year investigation dubbed “Operation Swiper”.

86 of these individuals have been detained while the remaining 25 are being hunted down. But the reach of these groups are not limited to America alone.

These groups would work with others based in Europe, Africa, East Asia and even the Middle East. Together they have “robbed” a total of $13 million dollars in the span of just 16 months.

The groups would use service employees like bank tellers and restaurant workers to “skim” data from credit cards and then pass that data on to criminal technicians. The technicians would use this data forge credit cards which is then passed on to “shoppers.” The shoppers would buy high-end computers and computer parts with the express intent of reselling them to criminal syndicates outside of the United States.

via www.creditnine.com

“Unique” Scholarships for the Average American Man

A 2010 report from the American Council on Education shows that the number of men enrolled in post-secondary education has dropped to around 43%.

That means the number of women enrolled in college now outnumber men by 14%; with fewer male-oriented scholarships being noted as one factor for this gender gap.

It is for this reason that Michelle Showalter of Scholarship America presented a list of scholarships designed exclusively for men:

The Lax Scholarship for Gay Men encourages gay men to pursue college degrees by offering up to $20,000 in financial aid. This is available in certain Pennsylvania counties, including Bucks, Chester, Delaware, Montgomery and Philadelphia counties.

The Men of Excellence Scholarship is available at the Iowa State University for men that display scholastic, extracurricular and leadership experience. Completing an essay on why applicants can be considered men of excellence will seal the deal. This scholarship is sponsored Phi Kappa Si, but is available to all incoming freshmen or transfer students.

Even former Boy Scouts have their own scholarship funds courtesy of the National Eagle Scout Association – particularly the Mabel and Lawrence S. Cooke Scholarship. This scholarship reserves four $20,000 scholarships and one $48,000 scholarship a year.

Michelle Showalter discusses other similar scholarships in her column at U.S.News.com.

What about scholarships for single moms? For single mothers who struggle financially, education often take a backseat. But there is help!

“If it weren’t for financial aid, it is nearly impossible for single moms to go back to school, re-enter the workforce and provide a better living for their family” says Dawn Lee of SingleMotherGrant.net – a website dedicated to providing resources on grants for single moms.

To encourage single moms return to college, financial help is available in the form of single mother scholarships which covers the books, tuition, other school expenses, etc. and do not require any repayment as long as they keep “their end of the deal”.

S&P Raises the Stakes

As its appears, the crisis over debt ceiling extension is going to go right to the wire. The first signs of seriousness and the big concern – that no one ‘jumps’ out of this vehicle quick enough as it hurtles towards a cliff – will be the reaction of the ratings agencies.

S&P has already warned that it is not simply a matter of extending the ceiling at the eleventh hour and that they are going to be proactive in their assessments. You could call this a shot across the bows, but it will be a long serving executive, David T. Beers, who will call the shots. He has a history of not being trifled with.

When asked how relations with the Treasury currently stood, he rather cryptically answered that people in his position were not used to being welcomed into meetings on this issue. Diplomatic speak for ‘frosty’ would be a fair appraisal here!

He has pulled no punches about the need to tackle the debt load quickly and effectively. Heading the division of S&P that, via an 80 strong army, assesses 126 countries he recently outlined how the committee that would ultimately decide whether to alter the U.S.’s 70 year old AAA rating would implement decisions.

Of particular concern to the Obama administration, is the notion that the committee could effectively pre-empt the deadline by deciding that there are insufficient signs of an agreement being met.

S&P is acutely aware of criticisms it received during the subprime crisis; when they were accused of rating too highly bundles of near-worthless mortgages. They may well be in a mode and a mood to reassert both their independence and their authority.

In April, S&P revised its US outlook from stable to negative: citing a 33% possibility of a downgrade of debt. Three months later they hardened their position and decided that there was a 50% chance of a downgrade in the next 90 days.

The stakes could not be higher: a nervousness that is beginning to palpably show in equity markets.

Retirees Who Held On During the Recession Seeing Big Returns on Investment

The onset of the recession sent the stock markets tumbling, especially during its peak around 2008 and 2009. A lot of 401(k) and 403(b) investors decided to pull out of the equities market and invest in someplace else, while others decided to sit on their assets and wait ‘til the storm passes.

A Fidelity Investments study shows that it was the latter group who hit it big this time around.

Investors who maintained their 401(k) plans from October 2008 to June 2011 saw their account balances grow by an average of 64%. Investors who pulled out and stayed out in the same time period, though, saw their balances grow by a meager 2%.

Some participants of the study pulled out of equities after 2008 but decided to jump back in at some point in time, and they saw their balances grow 25% on average.

The good news is that majority of plan participants did not pull out from the market. Just 1.6% of all participants decided to shed their equities, while 1.4% decided to stop contributing to their plans at all.

Those that stopped contributing saw their balances grow by 25% – the same amount as those that left but then later returned to the equities market.