When people in Charlotte consider divorce, some of the most important issues that can arise at end of a marriage relate to finances. Preparing one's own finances can help a person prepare for the divorce process. One of the first and most important steps can be getting key financial documents in order. During a divorce, a person will need copies of all of their major paperwork, from tax returns to bank statements and investment account reports.
OCSE seeks to improve child support collection
The federal Office of Child Support Enforcement had begun the process of updating and improving procedures for the collection of child support payments through payroll withholding. Child support agencies in North Carolina and around the country typically depend on accurate reporting from employers so that money for children can be deducted from the paychecks of noncustodial parents.
Divorce and protecting one's finances
North Carolina residents should take the necessary steps to protect their finances from the effects of a divorce. There are certain actions they can take before and during a marriage to ensure that their financial future is stable if their marriage ends.
The financial complexities of divorcing later in life
When some people think of divorce, they imagine young couples choosing to split. However, the real face of divorce is increasingly different throughout North Carolina and the rest of America. Statistics show that a growing number of separations happen to couples over the age of 50. In the last 25 years, the divorce rate for Americans older than 50 has more than doubled, and the upward trend is continuing. Divorce at any age or stage of life comes with complex issues, but the challenges can be exacerbated when the spouses have had a long marriage stretching over the years.
Creating a prenuptial agreement as a partnership
Some people in Charlotte who are getting married might want to consider a prenuptial agreement. While this can be a difficult topic to broach, there are ways of approaching a prenup that focus on strengthening rather than weakening the marital bond.
Why it's best to avoid revenge during divorce
Divorcing North Carolina couples may be tempted to use the court system as a tool to exact revenge on disappointing spouses. However, that strategy is not recommended for a number of reasons. Divorce lawyers charge by the hour, and disputes between spouses can cost many thousands of dollars. The anger and hurt feelings felt by both parties during a divorce may fuel a thirst for vengeance, however giving in to the urge is an expensive mistake that costs more than just money.
The impact of divorce on taxes
North Carolina couples who are ending their marriage should give careful consideration to the financial impact a divorce can have. The effect it has on taxes may endure for a long time after the finalization of the divorce.
Myths about being married to ignore
As a general rule, a marriage is whatever the couple wants it to be. However, it may not seem that way with all the advice that married couples give to those in North Carolina who are planning a wedding or are thinking about marriage. One of the big myths is that a marriage has to be an equal partnership. In many cases, an equal partnership is one in which a couple is merely keeping score instead of being there for each other.
Divorce filings common during holiday season
Couples in Charlotte might be more likely to file for divorce in January than in many other months. The two most popular months for divorce filings are August and March, but just after the new year is another common time.
Divorce makes family structures more complex
North Carolina residents may have trouble identifying their family members as divorce complicates how families are structured. Of families headed by someone under the age of 55, roughly 33 percent are headed by a stepparent. Of those who are 55 or older and have adult children, roughly one-third have a stepchild. This was according to data from research conducted by a professor at the University of Massachusetts Boston and other parties.
