Kennedy Law Associates

June 2018 Archives

Finalize divorces prior to 2019 to save money

Starting in 2019, the way high net worth couples get divorced will change. The tax law changes make the way people in this income group settled divorces in the past look very different. Instead of getting the divorce subsidy, North Carolina couples that finalize their divorces on or after Jan. 1, 2019 may have to rely on other methods to save money. Although the new tax code may make it simpler for the average person to file returns at the end of the year, it doesn't offer many benefits to divorcing couples.

Keeping a house could help a divorcee plan for the future

Divorce divides assets accumulated during a marriage so it comes as no surprise that divorced people may be less prepared for retirement than those who were never married or who stayed married. However, North Carolina women who remain single after a divorce may be better prepared financially if they keep the family home. Keeping the house isn't always a good plan so it's important to weigh the pros and cons,both for the short-term and the future.

Methods spouses use to hide property

Feeling as if your spouse is hiding money or assets from you can prove quite unnerving, and so, too, can losing trust in the person with whom you have shared a bed for some time now. Unfortunately, both situations are common among married couples, about half of whom ultimately end up parting ways.

Reasons for legal restrictions imposed during divorce

People in North Carolina might view divorce as a pathway to emotional or personal freedom, but the process places both spouses under legal scrutiny. Soon-to-be exes often experience surprise when they learn that the law limits what they can do with their money or where they can travel with children until a court approves the final divorce settlement. Although typically inconvenient, these legal restrictions are meant to protect people from financial loss or violation of parental rights.

What to know about filing taxes after divorce

If you count yourself among the many people across North Carolina who are currently navigating their way through a divorce, you are probably learning a good bit about how to adapt to change. While your living situation, your financial obligations and your relationship status are among the many transitions you might experience during this time, other areas of your life also undergo change when you split from a husband or wife.

Tips for making divorce preparations

North Carolina spouses who are going through a divorce can take steps to make the process easier. One of those first steps is prioritizing. Future exes should write down what their needs are in the divorce as well as their wants and the things they are willing to let go.

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Are quality legal services available in your Charlotte neighborhood? Yes, our offices are located in Ballantyne, so you do not need to fight traffic driving uptown or deal with the inconvenience of paid parking decks. We are just minutes from the Ballantyne Corporate Park right off of I-485. An initial domestic consultation with Kennedy Law Associates is a positive step toward creating a roadmap to a better future.

14835 Ballantyne Village Way, Suite 225
Charlotte, NC 28277

Phone: 704-512-0619
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