The holiday season can be particularly stressful for North Carolina families that are being separated by divorce. Among the emotions common to both parents and children at this time are fear, anger, sadness and loss. However, a child's anxiety can be mitigated if the parents put a clear plan in place for the holidays and maintain a positive attitude.
When people in North Carolina get a divorce, they might make some financial missteps that result in the process being more difficult and expensive. For example, some people go out and spend a lot of money. This feels good in the short term, but the bills will eventually be due.
Every North Carolina family that goes through divorce faces challenges. Unfortunately, children have a tendency to blame themselves for parental separations, but honesty and loving reassurances can counteract these negative feelings. The author of a parenting guide recommends that parents place a priority on their children's relationship with both parents.
For couples in North Carolina, the Tax Cuts and Jobs Act that passed at the end of 2017 may make divorce more expensive. One change is that parents will no longer be able to take turns claiming children as exemptions. Instead, one parent can claim a head of household (HOH) exemption.
Isolation, health problems and financial issues may all affect older adults who get divorced. However, there are also steps they can take to prevent such issues. Couples in North Carolina who are facing what is sometimes called a "gray divorce" should try to exercise and avoid overeating or misusing alcohol in response to chronic stress.
People in North Carolina who are getting a divorce will need to take some financial issues into account. In addition to an attorney, they may also want to work with a financial professional, such as a certified divorce financial analyst, to help guide them through some of the more complex aspects of property division.
Divorced households in North Carolina and around the country have about 30 percent lower net worth than married households according to a study from the Center for Retirement Research, and they are also are less likely to have enough money to live comfortably during retirement. The study, which is based on data gathered from the U.S. Federal Reserve's Survey of Consumer Data, was published online in June.
Dealing with property division can be a major concern when North Carolina couples decide to divorce. The asset division process that accompanies the end of a marriage can lead to substantial changes in both parties' standard of living or the loss of certain long-time assets. Some of the most significant types of accounts typically divided in a divorce are retirement funds. While property division is complex for couples of all ages and means, it can be particularly so when a couple has been married for many years or has substantial amounts of property to divide.
Although you may no longer want to live with your soon-to-be former spouse, communication is still needed. In fact, couples that can reach agreement without the court's involvement will be able to save themselves both time and money.
Alimony has the potential to make you feel great about your finances or make you wish you had fought harder for more after your divorce. How is alimony arranged? What can you do to get as much alimony as you need? Here are a few things to think about.