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June 2013 Archives

Custody granted for late linebacker's orphaned child

New Mexico readers may be interested to learn that custody of the orphaned daughter of the late Chiefs linebacker Jovan Belcher has been awarded to her mother's cousin. Belcher killed the child's mother and then himself. The child custody case was decided by the Jackson County Probate Commissioner in Kansas City.

Dividing marital assets in divorce a complex process

New Mexico couples going through divorce mediation might find it is hard to divide the family assets they acquired and shared during marriage. Simply dividing assets according to their current dollar value might not be the best option in terms of your present or future financial security. Deciding that involves understanding the liquidity of the asset, its cost basis and the tax consequences of selling it.

Dealing with taxes after a divorce

New Mexico residents who divorce often find that their financial situation is radically different from when they were married. In addition to no longer having a joint income and the ability to share household expenses, a person's tax situation often changes greatly as well. If people do not make changes to adapt to their new circumstances, they could end up having trouble making ends meet, owing the IRS a large amount of money or both.

Working moms and child custody

People in New Mexico might be interested to hear that working moms are not necessarily gaining custody of their children when they get divorced. Traditionally, mothers almost always retained custody of their children when they got a divorce, whether they were working or not. However, that trend is beginning to shift.