Any parent over the age of 18 whose rights have not been terminated has an obligation to financially support their children. If you are going through a divorce, have recently separated from your child’s other parent, or are involved in a child support matter for any other reason, it can…
Dolan v. Dolan, 148 N.C. App. 256 (2002). Facts: Plaintiff and Defendant married in 1971. Plaintiff went to optometry school and eventually he started his own practice and also bought rental properties to supplement the family income. The parties separated in 1994. A claim for Equitable Distribution (ED) was brought…
In a previous post, we discussed the basics and legal implications of smart contracts built upon blockchain technologies. These smart contracts are one of the highly touted tools that are set to streamline business. The recent law that formed regulatory sandboxes to promote innovative fintech (financial technology) products portends this…
Craven County o/b/o Jessica L. Wooten v. Adel Hageb (No. COA20-442) Defendant Adel Hageb (“Father”) and Plaintiff Jessica L. Wooten (“Mother”) were never married but were involved in a romantic relationship. Mother gave birth to a child in 2016 and another child in 2017. After it was determined that…
Spouses who own businesses can often keep a tight lid on finances. This may not be an issue at the onset of marriage, but it means that often, the other spouse is clueless as to how the money is being made. In the unfortunate event of divorce, income becomes a…
The American Rescue Plan Act of 2021 (hereinafter “Plan”), also called the COVID-19 Stimulus Package, was passed by Congress and officially signed into law by President Joe Biden on March 11, 2021. The Plan seeks to aid the economy in recovering from the effects of the COVID-19 pandemic. One significant…
Henry v. Comm’r, T.C. Memo. 201924, 2019 WL 1385242 (2019) (a) Facts: Husband and wife married in 1997 and divorced in 2013. While the divorce case was pending, the parties filed a joint income tax return for tax year 2012. The return did not report $14,650 in income earned…
Schorse v. Comm’r, T.C. Memo. 2018176, 2018 WL 5270556 (2018) (a) Facts: Husband was a computer programmer and wife was a physician. During the marriage, the wife earned 80% to 90% of the parties’ income. For tax years 2002, 2003, and 2004, the wife provided her tax information to the…
Heedram v. Comm’r, T.C. Memo. 2018‑25, 2018 WL 1193421 (2018) (a) Facts: A husband and wife married in 2011 and divorced in 2015. During the marriage, the wife earned most of the parties’ income and handled the parties’ finances. She had unpaid federal taxes from before the marriage. The…
Minton v. Comm’r, T.C. Memo. 2018‑15, 2018 WL 718520 (2018) (a) Facts: A woman married a man who ran a struggling air conditioner business. The wife was aware that the business was struggling, as the parties had difficulty paying their bills, but the husband convinced her that a…