Divorce Law – The Intersection of Divorce and Real Estate Law – What Happens to Marital Domiciles?

If husband and wife own real estate in Rhode Island and are getting divorced and have no minor children then there are many possible dispositions concerning the marital domicile.

The parties agree to sell the property

There may be negotiations during the Rhode Island (RI) Divorce concerning one spouse buying out their husband or wife’s share in the property. The parties can agree to a single appraisal or hire their own appraisors. Some parties simply agree to the fair market value and do not need an appraisal. If husband and wife’s appraisals are different then they can negotiate the fair market value of the property. After determining the fair market value of the property, the parties should look at all mortgages owed and determine the equity of the property. The equity in the property is the difference between the fair market value and all liens and mortgages. This article only pertains to divorce and family law in Rhode Island (RI).

The equity in the property will determine what amount the person who is refinancing should pay the other party to buy out their equitable share. At the refinance closing, husband or wife may deed the property by quitclaim deed. Upon transfer of the deed, the spouse will receive their agreed upon share of the marital equity.

If the parties cannot reach an agreement and there are no children, the property will probably be ordered to be sold at the Rhode Island divorce trial.

In some cases, one spouse may agree to take less then half of the equity in the property. This could be done for numerous reasons including: disparity in earning capacity, admissions of an affair or infidelity, offsets from other assets etc.

Parties may also agree to a multitude of different scenarios which might include one party living in the marital domicile and refinancing in the future to buy out the other party’s share. This usually involves the party who remains in the house granting a mortgage to the other spouse.

There is really no limit to the types of agreements that parties can reach and it is possible that the parties could trade off assets in which one spouse receives a different asset such as a retirement account in exchange for the other party obtaining title to the real estate. Be careful because there may be federal tax implications to such tradeoffs!

This can get tricky because a transfer of the property without a current refinance will not take the person who deeded the property name off of the mortgage and promissory note.The person who deeded the property without refinance must make sure that the other party actually pays the mortgage, taxes and insurance on a timely basis otherwise their credit could be effected.

You should seek legal counsel from a Rhode Island (RI) divorce and family law Lawyer / Attorney concerning all of the possible scenarios.

Division of the marital domicile when parties have minor children.

If both parties agree that one spouse should reside in the marital domicile with the minor child / children they can agree to a deferred sale of the property. The person who is not living in the house with the children often receives a mortgage to secure the rights to receive money in the future.

If the parties cannot resolve this issue the court will determine whether or not it is in the best interest of the minor children to defer the sale of the marital domicile. The court must look at whether or not the parent who is residing in the marital domicile can afford the mortgage, taxes, insurance and upkeep taking into account any child support, alimony or income that the person receives. The RI family Court must also determine how long the sale of the house should be deferred in the best interest of the children.

If the parties cannot determine issues of child custody, visitation and physical placement then the issues become a lot more confusing.

Legal Notice per Rules of Professional Responsibility:

The Rhode Island Supreme Court licenses all lawyers and attorneys in the general practice of law, but does not license or certify any lawyer/ attorney as an expert or specialist in any field of practice.

David Slepkow is a Rhode Island lawyer/ attorney concentrating in divorce, family law, restraining orders, child support, custody and visitation. David Slepkow has been practicing for over 12 years and is licensed in Rhode Island, Massachusetts and Federal Court. Free initial consultations. Credit Cards Accepted.

Plan To Succeed With Information Product Creation: Why You Need To Split Your Process Up

One of the keys to succeeding in information product creation is to break the process up into discrete steps. This frequently isn’t an instinctive reaction for the typical information marketer. Especially on the internet where small sized learning products are the norm.

However, it is extremely important to your ultimate success. In fact, I would go so far as to say that if you don’t do this you probably won’t succeed… even when you are starting out let alone as you move forward.

Your product creation system should do this for you if only to help you to understand the overall task.

But why?

In this article, I’m going to ignore chunking and focus on the practical aspects. That’s not to say that chunking isn’t important. It is. It’s important to understanding and to learning the process. But while you can use the same chunks as you move forward, long term your focus needs to be on the operation of the system not the understanding of it. Unless of course you are constantly training new people!

So why is chunking important to long term use of the product creation process? (Yes, I know systems design uses a different term for this process but I’m not teaching you systems design. So I’m going to use the word learning content designers use.)

The first reason that having individual discrete tasks is important is one of schedule estimation. Frequently it is very difficult to estimate how long the total task of creating a product will take. After all, the size and type of the products matters as does the number of products in your product funnel. And those are just the most obvious elements. However, estimating a discrete task is often much easier. The total can then be estimated as the total of the discrete tasks.

Secondly, scheduling a large task can be problematic. However, by segmenting the task into a number of discrete tasks, you gain a much greater flexibility in scheduling. Not only that but as your business begins to add people you are able to schedule multiple people to the product creation.

Finally, segmenting a large task into smaller discrete tasks allows you to have much better control over the product creation. This affects two different areas — status and quality.

By segmenting your process into discrete tasks you are able to schedule and record the progress at much more detailed level. As a result you are more in control of the status of the product creation. You know what everyone is doing. When they should complete it. And how much it should cost. You also know exactly what has been done.

You also improve your overall quality. Instead of waiting until everything is done you can check quality as you go. This allows you to immediate react to low quality products without absorbing their costs. This means that you have less rework and your rework costs less. And if the product is not going to meet its quality requirement you will know about it in time to stop the development, change the requirement or fix the product.

A Guide on Successful Product Creation and Internet Marketing

Product creation in Internet marketing is getting stiffer and stiffer nowadays owing to tough competition between Internet-based businesses. Putting up a new product requires plenty of brainpower and finances along with an ability to take risk. With that, even if you have the product well-set already, you have to position it strategically in the Internet landscape for others to notice. You should get the interest of Web users and turn them to actual customers. Aside from the usual physical products, many different products that thrive well on Internet marketing include E-books, membership sites, and video lectures.

The long and difficult process of product creation begins with ideas. They are easy to get – compared to the effort that comes with analyzing the market for that idea. Before the idea turns to a product, businesses often spend money, even amounting to millions of dollars, to ensure the success of the new product that emerges from an idea. Businesses undertake many types of market research and surveys before releasing their products to the public. Now, you may think that because your business is small, you can’t afford research or you don’t have to do research; you can and you should. The Internet allows you to disseminate materials needed for your market study to many people at once without your having to spend a cent.

It is a common maxim in business: Look at your destination first before mapping out your journey. So what are the goals you intend to accomplish with your product creation ventures? The everyday travails of your business may make you forget the end in sight. On the other hand, prepare to entertain new developments that come to your mind in your product creation. Your conception of a product may have started this way, but a few tweaks here and there along with some market research results and it ends up another way. Take it as the result of a creative process, not as a failure to reach your goal. After all, your product creation activities are intertwined with a long-term goal that you should strive to sustain at your utmost: profit generation. So if your less profitable initial idea evolves to a more profitable product, be thankful!

With your product made up already, start doing some aggressive Internet marketing. A product purchase typically comes after more than five times a customer is exposed to an informative call-to-buy message. Thus it is important to get the contact details, like the e-mail address, of potential customers who are on the brink of a sale. Use the results of your market research to determine the demographics to which you should concentrate your marketing efforts.

With consistent product creation, you can make an inventory of your products that you can market in due time. Just keep making products – the moment you succeed in making and marketing a product, customers are surely wanting more from you, so give it to them. Keep them on your side through constant product creation.