Kennedy Law Associates

March 2019 Archives

Divorce and the family business

North Carolina business owners who decide to divorce may face unique complications and concerns. In many cases, spouses worked together in a number of different ways to build a family business. Determining how to divide a business in an equitable way that satisfies both spouses can be a lengthy process. In order to divide a family business, each spouse should seriously consider their future plans for the company.

What happens to cryptocurrency assets in a divorce

Cryptocurrency may be an asset in the divorce of some couples in North Carolina. While the currency is only about 10 years old, it has become more mainstream, and in the years ahead, it may increasingly become a tool for people to hide assets. The Global Blockchain Business Council found that only 5 percent of Americans surveyed said they owned cryptocurrency, but more than 20 percent said they were considering purchasing some.

The process of claiming a child as a dependent after divorce

Following a divorce in North Carolina, a child can be claimed as a dependent by only one parent per tax year. Ideally, exes will agree ahead of time on who gets to do this. Usually, it is the custodial parent. If the custodial parent wants to give the other parent the right to claim the child, this can be done with Form 8332. However, if parents disagree about who can make this claim, there could be problems.

Preparing for divorce later in life

The divorce rate for people who are 50 and over has substantially increased over the past few decades. Part of this increase may be attributed to people living longer and couples in second or third marriages that want to get divorced. Regardless of the reasons why older adults in North Carolina might wish to end their marriages, it is important that they are smart about how they get divorced so that they will not derail their abilities to retire.

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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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