Kennedy Law Associates

January 2020 Archives

Early IRA distributions and what happens in a divorce

Some North Carolina residents may decide to start taking distributions on an IRA before reaching the age of 59 1/2. This normally incurs a 10% penalty, but there are certain circumstances in which it is permitted without the penalty. However, those penalties kick in again and become retroactive if the IRA is modified. If a couple decides to divorce and the IRA owner is getting these distributions, this could be considered a modification.

Creating a custody plan that is age-appropriate

Parents in North Carolina who decide to divorce may have to rapidly change their relationship with one another. It can be challenging to adapt to co-parenting for any divorcing couple, even those who have a relatively amicable understanding with their former partners. Co-parenting can require a great deal of patience and communication, but a solid parenting plan can help get things started in a positive direction. The approach to child custody and schedules can vary depending on how old the children were when the divorce took place, and the parenting plan can take that into account and plan for changes later.

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In Your Neighborhood

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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