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‘Do it yourself’ divorce is full of risk

“Do-it-yourself” divorce apps and programs for preparing and processing forms have become more popular. While DIY divorce may turn out fine in some cases, it’s full of risk. If your divorce is simple (because it doesn’t involve kids, neither side is seeking alimony or support and you basically agree on how to split property) DIY divorce apps and tools may be OK. It’s still probably not a great idea, since the products cannot predict problems. For

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Wife can’t be forced to sell off property to pay large distribution to husband

A family court judge could not require a wife to liquidate her own separate property in order to pay a large distributive award to her husband, the North Carolina Supreme Court recently decided. The couple, Andrea and William Crowell, married in 1998 and divorced in 2015. Before they married, William started several small businesses that he claimed as his own separate property. Andrea claimed she had in interest in them as marital property. The court found

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Transfer assets to trusts with extreme caution (if at all)

If there’s one thing family courts hate, it’s a spouse who plays dirty by trying to hide assets in the hopes of avoiding having to split them as part of the marital estate. Doing so can bring stiff consequences, such as having to cede a bigger share of marital property, or getting hit with a judgment of contempt, or even criminal fraud charges (for securing property under false pretenses) or perjury charges (you signed your divorce

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Divorce and bankruptcy: which should I file first?

As we all know, life often doesn’t go as planned. Nothing illustrates this more than divorce. Bankruptcy is similar. You made financial plans, but for whatever reason your debts got out of control and you realized you might need a court to protect you from creditors and grant you a fresh start. Money problems and marital problems often go hand-in-hand, so it’s no surprise that divorcing spouses may also be considering filing for bankruptcy. Which should

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Contemplating Your Estate Plan During Covid-19

Get Your Affairs in Order For most of us, coronavirus and the threat it poses has made us contemplate the status of our estate plans. As thousands of people in the Commonwealth have died of COVID-19 and its complications, many thousands more are ill, and many, many thousands more face unemployment and financial hardship. There are also innumerable, lesser losses: newborn grandchildren who have yet to meet their grandparents; weddings canceled and postponed; funerals with only

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Beware of Scams Tied to COVID-19 Economic Impact Payments

The IRS is warning you to be on the lookout for a surge of calls and e-mail phishing attempts related to COVID-19. They will come in the form of e-mails, text messages, websites and social media attempts that request money or personal information. It can come in many forms The IRS says that scammers may do the following when trying to contact you: Emphasize the words “stimulus check” or “stimulus payment.” The official term is economic

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Answers to Common COVID-19 Unemployment Questions

The recently passed Coronavirus Aid, Relief, and Economic Security (CARES) Act provides individuals and businesses significant financial relief from the financial strain caused by the coronavirus epidemic. Here is a snapshot of the unemployment benefits section of the bill and how it affects individuals and businesses. Who qualifies to receive unemployment benefits? In addition to full-time workers who are laid off or furloughed, the Act provides individuals who are not already eligible for state and federal

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Protect Your Video Conference Meetings

Avalanche of new remote workers creates latest playground for hackers Hackers have found their new playground amid the increased use of video conferencing during the coronavirus pandemic: Zoombombing! Zoombombing defined Named for the company Zoom, the unfortunate first high-profile victim of this phenomena, Zoombombing occurs when internet trolls hack video conference meetings and join as uninvited attendees. After infiltrating a meeting, the hackers then have their fun, doing everything from performing harmless pranks to posting sexually

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Ideas to Help Make Payments During Tough Times

How to get cash quickly when you’re out of work You’re not alone in trying to navigate the financial uncertainty during the coronavirus pandemic. Millions of American workers who lost their paycheck because of COVID-19 need to find creative ways to pay bills. Here are 6 ways to get cash to help pay for your monthly expenses. Apply for state unemployment benefits. Recent federal legislation expands traditional state unemployment payments from 26 weeks to 39 weeks.

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Get Your Money: Ensure You Receive a Stimulus Payment

The IRS has two websites to help with stimulus payments: One for non-tax filers to register to receive their economic impact payment and a new “Get My Payment” tool. Background As a response to the COVID-19 pandemic, the government is sending $1,200 to single taxpayers with income less than $75,000 ($98,000 with phaseouts). $2,400 is being sent to married taxpayers with income less than $150,000 ($198,000 with phaseouts). An additional $500 is being sent for each

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