The financial devastation resulting from the COVID-19 pandemic spurred the development and implementation of several supportive programs under the Coronavirus Aid, Relief and Economic Security (CARES) Act of 2020. If you or your spouse benefited from any of these programs or provisions and are planning to […]
1. Compromise Could Help You You win some, you lose some, right? Unfortunately, divorcing spouses often refrain from compromising out of spite. While you might be tempted to fight every battle that comes your way, agreeing to compromises could save you a lot of headaches […]
The financial devastation resulting from the COVID-19 pandemic spurred the development and implementation of several supportive programs under the Coronavirus Aid, Relief and Economic Security (CARES) Act of 2020. If you or your spouse benefited from any of these programs or provisions and are planning to […]
11. Understand Debt Obligations Just because it’s listed in one person’s name doesn’t mean it’s not marital. Also, some states do not divide marital debt if it’s just in one person’s name. 12. Don’t Forget About Beneficiary Designations For best results, handle beneficiary designations and […]
1. Don’t Let Emotions Dictate Your Financial Decisions People often want to take out their hurt feelings on their exes. However, it’s important that you don’t let emotions interfere with your finances or the business at hand. In the long run, being spiteful could hurt […]
1) Understand the tax implications of each asset As each party negotiates dividing the marital assets, one of the biggest mistakes is not considering the tax consequences of each asset. For example, $1,000 in a bank account is not the same as $1,000 in an IRA, given […]
For simplicity, let’s assume that the wife is the lower wage-earning spouse in the examples below. If a couple has been married for 10 years or longer and they get divorced, the wife is still entitled to half of her ex-husband’s Social Security Retirement Benefits […]
When Social Security was first instituted in 1935, most women did not work. So in 1939, as part of a sweeping series of amendments, the system made spousal benefits available to any “wife” who either had not earned a benefit or whose benefit was less than […]
Can your ex inherit your assets? We all know divorce can be emotionally and financially challenging. But many of us don’t know how to protect ourselves from financial disaster that can occur long after divorce. What if a tragedy takes place post-divorce and you suddenly pass away? […]
Employee stock option division in divorce is a confusing and complex area troubled with tax complications and imprecise valuation methods. But as more and more companies use stock options to lure and reward employees, these assets have become a larger part of the marital asset […]