Virginia couples older than age 50 may be more likely to get a divorce than in previous decades. Research shows that over the past 25 years, the divorce rate has doubled for this age group. This can present financial concerns for people who are nearing retirement, but...
Month: February 2018
What the research says about joint custody
On behalf of Bowen Ten PC | Feb 20, 2018 | Child Custody
Some parents in Virginia who are getting a divorce might believe myths about shared custody that are not supported by research. Studies show that unless there are extenuating circumstances, such as neglect or abuse, children usually do better in joint custody...
Federal system aims to standardize child support enforcement
On behalf of Bowen Ten PC | Feb 19, 2018 | Family Law
When Virginia parents with primary custody don't receive their court-mandated child support payments, they can have trouble making ends meet. With the costs of daycare, after-school care, extracurricular activities and general expenses of life, child support can be...
How divorce can impact a tax return
On behalf of Bowen Ten PC | Feb 16, 2018 | Divorce
Virginia couples who are thinking about separating should understand that a divorce has several tax implications. For instance, it may be necessary for an individual to change his or her filing status from married to single. If a couple has merely separated, they...
Court rulings may change Chapter 13 bankruptcy rules
On behalf of Bowen Ten PC | Feb 16, 2018 | Chapter 13
When Virginia residents file for Chapter 13 bankruptcy, they may have the ability to modify their mortgages. However, if the lien is a primary lien on a primary residence, the debt is generally fully secured even if the homeowner is underwater on the loan. This is...
Chapter 13 cram downs could come to some primary residences
On behalf of Bowen Ten PC | Feb 13, 2018 | Chapter 13
Many people in Virginia who are unable to repay a large debt burden but want to preserve their mortgages, car loans and similar agreements make use of the provisions of Chapter 13 bankruptcy. Under a Chapter 13 bankruptcy, people have the ability to modify mortgages...
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