Divorce is a huge event in anyone’s life, and it’s not an easy thing to move on from. The months or years leading up to divorce, plus the drawn out process, can be a drain on your health, your energy, and your finances. One of the biggest […]
Most people think their greatest asset is their house. They are wrong. Checking account? Wrong again. For the vast majority of women, the most valuable asset we have is our career and earning capability. This is the asset we have the most control over to […]
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 […]
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 […]
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 […]
There is often an overlooked asset that needs to be divided or assigned to one of the spouses in a divorce settlement—and that is a cemetery burial plot. A burial plot is treated for most purposes as being unlike any other piece of real or […]