It’s Tax Filing Time: How Will Your Divorce Impact Your Returns?
Rotolo Law Firm | New Jersey Family Law Blog | Divorce
by Kearns Rotolo Law
4d ago
It’s that time of year again when most of us are sitting down to prepare our income tax returns, or at least thinking about it. If you are newly divorced, don’t neglect to consider the impact that change may have on your tax returns. One of the biggest changes may be in your filing status. Don’t be in too much of a hurry to check the ‘filing single’ box, though. Filing status is determined largely by your marital status as of December 31 of the tax year you are filing for. So, unless your divorce was finalized in 2022, you still need to select one of the married options when filling out your r ..read more
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Deciding A Course of Action When Your Marriage Is Over
Rotolo Law Firm | New Jersey Family Law Blog | Divorce
by Kearns Rotolo Law
1M ago
Most couples facing the end of their marriage immediately think divorce, but there may be another option available—an annulment. While a divorce is the legal process for dissolving a marriage, an annulment—also a legal procedure—deems the marriage null and void as if it had never occurred in the first place. An annulment is often quicker than a divorce, however, it is not available to everyone. Very specific requirements, including time limits, must be met before an annulment can be granted and those requirements can vary by state. Before you decided whether to seek an annulment or a divorce ..read more
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How Inflation May Influence the Divorce Rate
Rotolo Law Firm | New Jersey Family Law Blog | Divorce
by Kearns Rotolo Law
2M ago
Economists are trying to determine what impact, if any, inflation has on the rate of divorce. Financial problems—a lack of income, rising expenses, disagreements about spending/savings habits—have long held a place on the list of top reasons for divorce. That being the case, it could be assumed that rising inflation and its associated financial stresses could lead to an increase in the divorce rate, but the numbers don’t necessarily support that. Studies show that although financial stresses can increase marital conflicts in some cases, for most couples inflation has the opposite effect of str ..read more
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Step-By-Step Guide to Protecting Your Credit Post-Divorce
Rotolo Law Firm | New Jersey Family Law Blog | Divorce
by Kearns Rotolo Law
5M ago
For most people, a healthy credit score is essential to getting by in today’s world. And divorced couples are no exception. While divorce itself won’t necessarily destroy your credit, it can impact your finances. As you build your post-divorce life, it is more important than ever to protect, and perhaps even improve, your credit rating. For guidance on how to accomplish this, read “Protecting and Improving Your Credit Before, During and After Divorce ..read more
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The First Step to Overcoming Divorce Is Acceptance
Rotolo Law Firm | New Jersey Family Law Blog | Divorce
by Kearns Rotolo Law
6M ago
More than one-fourth of divorces in this country today involve couples in their golden years. While divorce is difficult at any age, it can be extremely hard to say good-bye to the person you’ve spent decades with building a life together. One reason for this is so much of your identity is tied to that relationship and to the life you and your partner built. As frightening and painful as the prospect of divorce may be especially for couples in their 50s or older, there are circumstances when hanging on is not the answer. If that is the case for you, it’s important to know that you can overcome ..read more
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Fair Settlement or Financial Fraud? Know the Signs
Rotolo Law Firm | New Jersey Family Law Blog | Divorce
by Kearns Rotolo Law
7M ago
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 ..read more
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Children—The Unseen Victims of Domestic Violence
Rotolo Law Firm | New Jersey Family Law Blog | Divorce
by Kearns Rotolo Law
8M ago
Society dictates that the ideal family is one where children are raised by two parents all living under the same roof. Yet, there are circumstances when staying together for the sake of the children is far from the best choice. Parents involved in a domestic violence relationship may think they are hiding the abuse from their children, but often that is a false assumption. A recent study confirms that children of domestic violence—whether they are targets or witnesses—are two times more likely to develop long-term issues than their peers. To learn more about the impact domestic violence can ha ..read more
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Credit Score Slipping After Divorce? You Can Fix That
Rotolo Law Firm | New Jersey Family Law Blog | Divorce
by Kearns Rotolo Law
11M ago
A good credit rating can open many doors – loan approvals, lower interest rates, increased spending limits, security deposit waivers, better insurance rates, to name a few. That’s why, once you build a good credit score, it’s important to keep close tabs on it and avoid actions that can have a negative impact. While divorce itself doesn’t directly affect your credit score, it does change your financial situation which, in turn, can have negative implications. After divorce, you could end up carrying debt that previously you shared with another person, or find yourself responsible for debts inc ..read more
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Red Flags That You Could Be Headed for Divorce
Rotolo Law Firm | New Jersey Family Law Blog | Divorce
by Kearns Rotolo Law
1y ago
No relationship is smooth sailing one hundred percent of the time, especially marriage. When two people decide to build a life together, they are sure to face some obstacles along the way. Luckily, couples often learn to overcome their differences, largely through understanding and compromise, and their marriages endure. Some obstacles, however, are too big to overlook and the marriages end in divorce. Deciding which problems are minor bumps in the road and which are deal breakers can be one of the hardest parts of marriage. Read “5 Divorcees Reveal the Red Flags That Their Marriage Was Doomed ..read more
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Divorce 101: First Things First
Rotolo Law Firm | New Jersey Family Law Blog | Divorce
by Rotolo Karch Law
1y ago
There is a lot more involved to a divorce than two people simply going their own ways. Couples have an overwhelming number of decisions to make—how to divide their assets, where to live and, for parents, how to continue caring for their children, to name a few. As difficult as it may be, cutting through the emotions and focusing on the logistics involved in the process one step at a time can help you better prepare for your post-divorce life. For a look at a step-by-step plan for your divorce, read “What To Do Before Filing For a Divorce ..read more
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