Support

Divorce: Strategies for De-Escalating Financial Conflicts

July 3, 2024 | Kearns Rotolo Law

Some of the biggest hurdles facing a divorcing couple, other than child custody issues, involve money matters. These fights can prove costly, both financially and emotionally. Long, drawn-out arguments over the distribution of assets or the terms of support obligations can extend proceedings and increase the overall cost of your divorce. Therefore, it can be in the best interests of both parties to resolve these issues as expeditiously as possible.

One way to de-escalate financial conflicts is to maintain open communications with your soon-to-be ex, if possible – be honest about your financial situation and expectations. If circumstances surrounding your divorce don’t allow for this open communication, there are other strategies you can explore to help keep your financial conflicts to a minimum. To learn more, read “7 Ways to Reduce Money Conflicts in Divorce.”

Social Media & Divorce – Why the Two Don’t Mix

March 1, 2024 | Kearns Rotolo Law

Some people find social media a great way to keep up to date with friends and family; others use it to vent their anger and frustrations. The immediacy of social media can be cathartic to some extent, but it can have its consequences especially when you are going through a divorce.

Whether you are sharing photos of your latest impulse purchase or complaining about your soon-to-be ex, what you – and your friends – post on social media can work against you in your divorce. How? Read “Divorce and the Power of Social Media” for more information.

Fair Settlement or Financial Fraud? Know the Signs

July 1, 2022 | Kearns Rotolo Law

Whether negotiating a divorce settlement in your lawyer’s office or going through divorce proceedings in court, arriving at a fair financial arrangement can be difficult. That’s largely because there are so many variables to consider when putting a value on what each spouse contributed to the marriage, which can lead to conflicting opinions as to what each spouse is entitled to.

Still there is a difference between feeling you were treated unfairly in your divorce and being a victim of financial fraud. How can you tell? A recent article in Forbes, “Red Flags of Financial Fraud in Divorce – And What To Do About Them,” highlights signs to watch for and what you can do to protect your interests.

Understanding Child Support

August 2, 2021 | Kearns Rotolo Law

When parents are seeking a divorce, some of the biggest issues they will need to resolve involve their children, specifically custody arrangements and child support.

On the most basic level, child support is intended to cover the essential, daily needs of the children: food, clothing, and shelter. But support payments can also extend to cover additional expenses, including those related to education, healthcare, employment-related childcare, and extra-curricular activities. These additional expenses can often be a source of conflict between divorcing parties. If the parents cannot come to an agreement on how to divide these expenses, the court will intervene.

To prepare yourself to negotiate an equitable child support agreement or to better understand the court’s ruling, read “The Ultimate Guide to Child Support.”

Stimulus Checks & Child Support: What You Need to Know

April 1, 2021 | Kearns Rotolo Law

The government-issued stimulus checks were intended to help those eligible address some of the financial challenges brought on by the pandemic, but for divorced parents who share custody of their children and pay or receive child support, these payments have proven a major source of confusion in some cases.

Criteria used to determine eligibility in the first two rounds of stimulus payments sometimes resulted in both parents receiving payments for the same child, or receiving a stimulus payment along with additional tax credits for that child. The eligibility criteria surrounding the third stimulus payment has changed yet again, but it still affects those dealing with child custody and support agreements. To learn how read, “Child support and the third stimulus check: Let us clear up the confusion.”

How COVID-19 and Its Related Restrictions Can Impact Your Divorce

May 13, 2020 | Kearns Rotolo Law

If you filed for divorce immediately prior to or during this time of COVID-19, chances are good that your case is experiencing delays. The restrictions imposed to help stop the spread of this virus have caused the closure of a number of businesses, government agencies and many courts to all but emergency cases. Not only may these restrictions be causing a delay in the final judgement on your divorce, but they are impacting a number of related issues including financial settlements, spousal and child support requests and child custody matters.

The impact COVID-19 is having on divorces and related issues is discussed in more detail in the Forbes article, “6 Ways The Coronavirus Can Infect Your Divorce – And Simple Steps To Protect Yourself.”

The ABCs of Spousal Support

May 1, 2019 | Kearns Rotolo Law

Spousal support, or alimony, is intended to make sure one spouse – usually the non-working or lower-earning spouse – is not unfairly impacted financially as a result of divorce. Although it is an important part of the divorce terms, spousal support generally is not decided until late in the divorce proceedings after other matters, such as the distribution of property and assets, have been settled. How much support is awarded, if any, and the terms of payment are determined according to the specific divorce laws of each state.

Spousal support is one of the conditions of divorce that can be modified after the court ruling if circumstances warrant, and can even be terminated early under certain conditions. For a better understanding of the unique considerations that influence spousal support, read “Determining And Collecting Spousal Support in Divorce.”

Understanding Child Support

February 1, 2019 | Kearns Rotolo Law

Divorce may end your relationship with your spouse, but it does not end your role as a parent, and with that role comes the obligation to support your children in all ways — physically, emotionally and financially.

Depending on the type of custodial agreement you and your ex agree on — or the court deems to be in best interest of your children — one of you may be ordered to make child support payments. Quite often it is the father who is responsible for child support, although in today’s age of two-income families, mothers can easily find themselves in this situation, too. That being said, both parents could benefit from reading “What Dads Need to Know About Child Support” to better understand the process.

Preparing for That Initial Meeting with Your Divorce Attorney

January 1, 2019 | Kearns Rotolo Law

For many people, the decision to divorce comes after months or even years of assessing their situation and giving careful consideration to all other options. But, no matter how long you have lived with the possibility of divorce, taking that first step to end your marriage is very emotional. Emotions can easily cloud your judgment and prevent you from thinking clearly so, before you meet with your divorce attorney for the very first time, it pays to be prepared.

In order for a divorce attorney to successfully defend your rights in a divorce, he or she must be aware of the facts relating to your situation and have a clear understanding of the marital assets and debts involved. Providing your attorney access to this information from the start can help you avoid delays in your divorce proceedings. For an idea of what kind of documentation would be helpful, read “What To Bring To Your First Appointment.”

New Tax Laws Expected to Complicate Divorce Negotiations

March 1, 2018 | Kearns Rotolo Law

Spousal support, or alimony, often can be a point of contention in divorce negotiations. Now, with the recent changes to the tax code, negotiating these agreements may get more complicated.

Presently, spouses who pay alimony can deduct these payments on their income taxes while those who receive such payments are required to report them as income – all that changes at the end of this year however. According to the new tax code, in divorces settled after this December 31 alimony payments will no longer be deductible nor reportable as income on annual tax returns. Currently, there is much speculation regarding who will truly benefit from this tax change – the payer or the recipient – and what effect, if any, the change will have on divorce filings this year. To learn more, read “Alimony tax changes may scorch divorcing couples.”