Divorce, Kids and Taxes: Which Parent Claims Dependents if the Decree is Silent?
While few of us look forward to filing our taxes, newly divorced parents probably dread it more than most. Filing individual tax returns post-divorce raises the thorny question of which parent may claim a child as a qualifying dependent. Most of the time, a divorce decree or parenting plan will list specifically who can claim
Child Tax Credit May Shrink or Complicate Divorced Parents’ Tax Returns
Parents could get a smaller federal tax refund this year or even owe the IRS if they received the expanded Child Tax Credit in 2021. For divorced parents, this will affect the parent who received the credit last year–that is, the one claiming the child as a dependent on the tax return. The Advance Child
The Low-Down, Dirty Divorce: How to Make It to the Other Side
If you find yourself embroiled in a messy divorce where your ex has hired a nasty attorney to play dirty, doing everything they can to malign and hurt you, you might feel cornered with no choice but to fight back. But there are some excellent reasons not to resort to underhanded practices yourself. For starters,
High Net Worth? Special Issues Wealthy Divorcing Couples Face
Married couples who have a high net worth (defined by Investopedia as $5 million or more) have additional hurdles when they begin divorce proceedings. Below are some ways that a dissolution of marriage involving millions of dollars differs from most divorces: Greater complexity It is no simple task to identify and appraise the value of
What is No-Fault Divorce in Missouri and Are There Any Benefits?
You’ve probably heard of “no-fault” divorces, but what are they? And, are there any benefits or advantages? In Missouri, no-fault means either spousecan request a divorce without giving a specific reason for the divorce. The filing party may simply cite “irreconcilable differences” or give any reason they wish. Most Missouri divorcing spouses state that the
The Discovery Process in a Contested Divorce
The process of discovery is a vital step in litigation. The American Bar Association describes discovery as “a formal process of exchanging information between the parties” regarding the evidence and witnesses each plans to present at trial. According to the ABA: “Discovery enables the parties to know before the trial begins what evidence may be
Valentine’s Day Advice for Healthier, Happier Relationships – From a Family Law Firm
Family law firms are witness to a lot of marital conflict involving anger, regret, and heartbreak. While every marriage is unique, among unhappy couples we see many of the same unhealthy communication patterns and issues again and again. A marriage requires care and tending all year round. There are numerous things everyone can do to
Scheduling Holidays with Children After Divorce
When parents divorce in Missouri, the law requires that parents draw up a parenting plan that includes a detailed schedule for all holidays, school vacations, birthdays and other special occasions. Because holidays and special days don’t always fall within the regular visitation schedule, divorcing co-parents will need to be flexible. Major holidays can be shared
How to Change Your Name After Your Divorce
Divorce means establishing a new identity. For some, this may include a name change. There are many reasons why one person might decide to keep their married name, and another might prefer to drop it. At the end of the day, it is optional. The process is different if you decide to do this before divorce
10 Steps to Take Before You File
If you are contemplating divorce, it’s tremendously helpful to be as prepared as possible. Here are some tips to help you educate yourself as much as possible. Essential 10 Steps: Educate yourself on the divorce, child custody, and property/debt division laws in your state. Create a current inventory of your financial assets (real estate,
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