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Tax Considerations That Can Impact a High Net-Worth Divorce

f you are going through a high net-worth divorce, it is crucial to partner with an experienced family law attorney who can help you understand the legal issues you will need to address and the potential tax ramifications of divorce-related decisions.

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Divorce Do's and Don'ts from a Top-Rated South Carolina Divorce Attorney: Winning the Judge's Favor and Protecting Your Future

Navigating the intricate labyrinth of emotions and legal complexities when contemplating a divorce can feel overwhelming and daunting. In such a pivotal moment, seeking clarity and guidance becomes essential to make informed decisions that will shape the course of your life. This blog post acts as a compass in those uncharted waters, offering insightful advice and practical steps to take if you find yourself at the crossroads of considering a divorce. Whether you're grappling with uncertainty or ready to take the next steps, understanding the upcoming process and potential challenges can empower you to embark on this journey with confidence and a clear sense of direction.

PLAY TO YOUR AUDIENCE. 

When it comes to making an impression, focus solely on one person: the judge. Evaluate your actions by considering how the judge will perceive them. If you believe your behavior might offend or irritate the judge, it's best to avoid it. Since self-assessment can be biased, it's crucial to engage a knowledgeable lawyer who understands the judge and possesses sound judgement. 

CONTROL YOUR EMOTIONS

Avoid sending text messages, emails, or Facebook posts while feeling angry. Your spouse may exploit them if given the chance. Keep in mind that the judge might come across your enraged text or incriminating social media post. Ensure that whatever you write or say will not offend the judge or be something you'd regret seeing on the front page of the newspaper.

TURN DOWN THE VOLUME. 

Just before a divorce begins, it is common for individuals to experience fear and vulnerability. Consequently, some may resort to making threats or engaging in disruptive behavior. It is crucial to refrain from such actions and avoid responding to them. Instead, if your spouse behaves inappropriately, consider contacting the police or pursuing an order of protection, which can be obtained without filing for divorce. Throughout this challenging period, especially if you have children, strive to maintain a sense of normalcy.

DON'T HIT THE PANIC BUTTON.

Avoid engaging in financial misconduct or attempting to conceal assets. It is probable that your spouse's attorney will discover such actions. Moreover, engaging in such behavior may backfire and result in the judge lacking trust in you. If you have concerns about your spouse's potential financial actions, we urge you to contact us promptly. We can initiate legal measures to safeguard your interests through court orders.

WATCH YOUR BACK. 

While it's important not to be overly suspicious, some individuals may monitor their spouse's movements through GPS or even spy on their computer using spyware. To address this issue, consider changing all your passwords and ensuring that your spouse is not associated with any of your cell phone accounts. If you still have concerns, exercise caution and reach out to us. We can take appropriate action to address this behavior once you have filed a case.

TAKE CARE OF YOURSELF. 

Divorce can be a highly stressful experience, impacting even the strongest individuals. To preserve your emotional well-being during this challenging period, it is important to prioritize self-care. This includes maintaining a balanced diet, ensuring sufficient sleep, engaging in regular exercise, and avoiding excessive alcohol consumption. It may also be beneficial to seek guidance from a clergyman or therapist to gain perspective and support. Remember, this difficult phase will pass. Although you may currently feel overwhelmed and uncertain, your life will gradually improve. It is during the darkest moments that the dawn draws near. Many people not only survive divorce but thrive in their new lives. And so can you!

Consider these tips if you expect a divorce in the near future: 

AVOID NEW FINANCIAL OBLIGATIONS. 

It is advisable to refrain from making significant purchases or taking on new financial obligations during this period. It is prudent to minimize new debt and maintain low credit card balances while prioritizing liquidity. If you do not have personal credit, consider applying for a credit card and include your spouse's income in the application.

DON'T QUIT YOUR JOB! 

Sometimes individuals believe that quitting their job will give them a tactical advantage. However, if your judge suspects any financial manipulation, this strategy will likely have adverse consequences. It is advisable to maintain your current employment status unless you have a valid and compelling reason to pursue a job change.

GET A CHECKUP. 

This is an opportune moment to assess for any underlying health issues. If you rely on your spouse's health insurance, it is advisable to seek treatment while still covered under their plan.

KEEP YOUR EYES OPEN. 

If you are unsure about your family's financial situation, it would be beneficial to investigate. Obtaining copies of tax returns or other significant documents will greatly assist us in commencing the process. However, if you encounter difficulties in acquiring this information, rest assured that we will be able to obtain the necessary records during the discovery process of the case. 

USE A JOURNAL.

 Document crucial conversations or information as a point of reference for future use. This becomes especially vital in the event of custody disputes. Safeguard the journal in a secure location to prevent your spouse from gaining access.

RUN A CREDIT REPORT ON YOURSELF.

 Ensure you monitor your credit to avoid any unexpected debts that may have slipped under your radar.

BE CAREFULL RECORDING CONVERSATIONS. 

Recording conversations is legal in South Carolina, but it may be illegal in other states. Check your state law before doing so.

STOP USING SOCIAL MEDIA. 

Refrain from sharing anything on Facebook, Twitter, TikTok, Instagram, or any other social media platform that may potentially have negative consequences in the future. Although it is legally prohibited to delete information in anticipation of a divorce filing, it is advisable and permissible to deactivate your account.

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10 Important Questions to Ask a South Carolina Divorce Lawyer During a Consultation

We’ll go over the best questions to ask a divorce lawyer during a consultation. The answers should give you deeper insight into the attorney, their law firm, and how helpful they will be for your divorce case.

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Filing for Divorce in South Carolina

Divorce can be stressful and confusing. If you’re considering filing for divorce in South Carolina, knowing what to expect and what will be expected from you can make the process easier and help you avoid costly mistakes. Your best source of information will always be an experienced South Carolina divorce lawyer. This overview will give you a general idea of what to expect from the divorce process.

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Special Considerations When Divorcing after 50

When you divorce later in life, the stakes are often higher and the issues are often more complex. This section offers an overview of issues common to later-in-life divorces, such as division of assets acquired across decades, possible conflicts over what remains separate property, joint investments, business ownership, and other factors that can make a divorce more complicated. 

Divorce for South Carolina Business Owners

In this article, we’ll discuss how a business can be affected by divorce. If you are in this situation and need a legal advocate on your side, our experienced divorce attorneys at Fender Law Firm can help you. Give us a call at 843-379-4888, or fill out our online form, and we’ll reach back out to you.

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Some Things to Avoid When Divorcing Later in Life

If you need assistance, or legal advice regarding your divorce over 50, please contact Sun City Divorce Attorney, Addison Fender at the Fender Law Firm.  We handle all types of family law cases, including divorce, custody, visitation, child support, paternity determination, and cases involving the Department of Social Services. 

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Can I Move to Another State with My Child After My Divorce?

Accordingly, in this article, we are going to discuss the hurdles you may face when trying to move with a child after a divorce.  If, after reviewing this article, you have more questions about divorce and child custody issues, we invite you to contact The Fender Law Firm.  We are experienced divorce attorneys in Beaufort, South Carolina, and we can help make the challenges of divorce a little easier.  Schedule a consultation online or call us at 843.379.4888 today.    

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HOW LONG DOES IT TAKE TO GET A DIVORCE IN SOUTH CAROLINA?

When you decide to end your marriage, you might wish to get the divorce and move on with your life as quickly as possible. Unfortunately, legal cases are rarely quick, and South Carolina has many laws dictating waiting periods and other requirements for a divorce.

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Distributing Personal Property in Your Divorce

Property division is a major aspect of any divorce case. South Carolina requires that marital property be divided in an equitable manner, which means the division must be fair under the circumstances.

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