A divorced Charlotte parent might have visitation or custody rights. If the parent has visitation rights, this means the parent has the right to spend time with the child, but the child does not live with the parent. The child lives with the parent who has physical custody rights. Physical custody, dealing with the child's primary residence, is only one type of custody. Legal custody is the type. A parent who does not have physical custody might still share legal custody with the other parent. … [Read more...]
Archives for March 2018
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. Child support agencies send out requests for verification of employment. These forms ask employers about wages … [Read more...]
Trusts and adult children
Some estate holders in North Carolina may have concerns about leaving assets to their adult children. Individuals who lack financial maturity and are bequeathed assets outright may squander an inheritance. In such a situation, setting up a trust may be a wise move. Parents should not use their children's age as an indicator of financial sophistication. If the goal is to ensure that the family's wealth will last for multiple generations, it may be prudent to have the wealth professionally … [Read more...]
Successful co-parenting is possible with the right approach
Have you recently gone through the divorce process? Were you finally able to put your child custody dispute in the past? Do you now need to turn your attention to the future? Just because your marriage is in the past doesn't mean that you won't have any communication with your ex-spouse. This is particularly true if you have a child with this person. At first, successful co-parenting may seem impossible. You realize that every time you speak with your ex-spouse it results in a fight, which has … [Read more...]
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. A key part of protecting one's finances is to make sure that important assets remain separate property. In addition to facilitating estate planning, maintaining separate property allows both parties of a married couple have more control over to … [Read more...]
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 … [Read more...]
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