Tagged: income

Divorce and the Stay-at-Home Parent

Single mother by the stove with toddler on hip, stirring mushrooms, her older son is standing by concept

Nearly half of married couples eventually terminate their marriages by divorce or dissolution, but most of us live our lives as if we are going to be in the other half. That leads to making decisions with the expectation that our marriages will last “until death do us part.” When that parting comes sooner, by […]

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When to Consider a Prenup

prenup

What kind of couple gets a prenuptial agreement? Many people think of prenups as something for the wealthy or famous or for couples who are not confident in their marriage working out and want to make an eventual divorce or dissolution easier. While it is true that people who fall into those categories often benefit […]

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The Child Tax Credit: What to Expect

child tax credit concept

Most of us found 2020 to be a pretty difficult year. Many people saw their income decrease, and parents of young children were faced with the need to keep their kids safe, fed, happy, and educated through the pandemic. In the best of times, parenting is challenging. Under the circumstances many parents faced last year, […]

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College Expenses for Divorced Parents

Education expenses

As a parent, you want the best for your child, and that includes making sure he or she gets the best education possible. With college costs rising, paying for that education is a challenge for most parents. After a divorce, coordinating with your co-parent to apply for financial aid and deciding who will be responsible […]

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How Are Retirement Accounts Divided in Divorce?

Retirement plan with calculator pen and glasses

Dividing assets in a divorce or dissolution is often challenging. Sometimes the issue is that both spouses want an item that is unique or has sentimental value. Other times, there may be a question about whether an asset is marital property that is subject to division in divorce, or separate property that belongs to one […]

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Coronavirus and Child Support: What to Do if Your Income Has Changed

$100 Corona Virus

Every day, we are getting more news about the coronavirus and most of it is discouraging: more and more people are getting sick, many are dying, and a vaccine may be more than a year away.  As if the health news isn’t enough of a burden, it is accompanied by an economic tsunami. With so […]

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Tax Tips for Divorcing Parents (and the Newly Divorced)

money worries state of man reading paper.

Divorce brings many adjustments: different living arrangements, different schedules with the kids, different expenses, and different budgets. If you’ve gotten divorced within the last year, there is one more change you are probably dealing with right now: filing your income taxes without a spouse. This adjustment can be a painful one, and not just for […]

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Deviating From the Ohio Child Support Guidelines

Legal Agreement between 2 people over a gavel.

In 2018, there was a major overhaul to Ohio child support law, in an effort to bring it (literally) into the 21st century and account for the realities that modern families must deal with. While the new guidelines more closely reflect the needs of Ohio families, there remain some situations in which ordering child support […]

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Grey Divorce: What it Is, Why it Happens, How to Plan

Lady with man in background | paper cut out of family and gavel | Melissa Graham-Hurd & Associates

The term “grey divorce” refers to the breakdown and breakup of long-term marriages, or marriages of those in their mid-fifties and beyond. Most of us have an expectation that once a couple has made it past some of the struggles common in young marriages—tight budgets, the chaos of raising small children—the rest is smooth sailing. […]

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What is “Gross Income” For Ohio Child Support Purposes?

2 Little Boys with Calculators | Melissa Graham-Hurd & Associates

For the first time in about 25, years, there is an updated version of the Ohio Child Support Guidelines. There have been a number of changes intended, quite literally, to bring the guidelines into the 21st century. The cost of living increased nearly 42% in the ten years from 1982 to 1992; from 1992 to […]

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