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Posts tagged "Divorce"

Paying for a child when the parents are no longer together

When parents end their marriage, they are still required to take care of their children. This means paying for food, shelter and other needs that they may have. Generally speaking, this is easier when parents in Maryland and elsewhere can communicate effectively. Ideally, they will have regular meetings to discuss their child's current and future financial needs. These meetings can occur over the phone or by email if it isn't possible to get together in person.

Planning for a divorce

Maryland spouses who are thinking about splitting up may be unsure about the right time to get a divorce. According to psychology and family law professionals, summer is the prime time to end a marriage. The summertime gives a couple the opportunity to decide if divorce is a wise choice for their situation. Individuals can take the time to determine exactly what they want from a divorce. It is also a good period to fully understand the complete legal ramifications.

How divorce can impact business owners

Most couples are aware that divorce can impact many aspects of life, but many are surprised by the challenges that owning a business can bring. Since a business can represent the majority of marital assets and income, dividing up ownership can become a complicated aspect of the divorce proceedings. Which parts of a business qualify for division largely depends on how much business income the owner claims for his or her own tax liability, and the Tax Cuts and Jobs Act of 2017 may provide a guideline for making this determination.

How divorce can impact credit scores

Overlooking financial issues that could impact credit scores could have long-term consequences for anyone ending a marriage in Maryland. On a positive note, simply getting a divorce does not automatically affect somebody's credit score. Even so, it's not always easy to separate joint financial obligations post-divorce.

Tech changes that can accompany divorce

When people in Maryland decide to divorce, they may think first about the changes to come in their family homes or to their personal relationships. However, there are also some technical changes that people may wish to make to protect their security and privacy after the end of a marriage. One of the first things that may be important to do is to change all of a person's major passwords. People who are married often share access not only to home accounts or online banking but even to email or messenger accounts.

Be sure to clarify child tax exemptions before tax filing

As the tax filing deadline approaches, unmarried individuals with a minor child in Maryland must consider who can take the exemption for the child. The IRS has rules regarding who can claim the child, so without communication between the parents, one party risks having a return rejected.

Tips for high-asset couples getting a divorce

One of the first steps people in Maryland who are going through a high-asset divorce may want to take is assembling a legal and financial team. They may also want to consider whether they want to pursue litigation. Litigation is not inevitable even if there is a lot of conflict, and some couples may be able to resolve discord and reach an agreement through mediation or collaborative divorce.

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Law Office of Dawn M. Green
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