One of the most often missed topics in divorce planning is basis. Whether we’re talking about the house, stocks or other real estate, knowing the basis is a must when taking on the task of separating property. Consider the following case study. Kris and Brian […]
Normally, distributions made before the participant attains age 59 ½ are called “early distributions,” and are subject to a 10% penalty tax. The tax does not apply to early distributions upon death, disability, annuity payments for the life expectancy of the individual, or distributions made […]
No one can predict when or whether that fateful “yes” they said on their big day will turn in a resounding “no”, with them ending up being served divorce papers. It’s a traumatic experience and a draining process, both emotionally and financially. Still, it’s sometimes […]
The divorce rate in the U.S. has steadily fallen over the past two decades, with the latest statistic putting 2.5 per 1,000 marriages ending in divorce or annulment. But while overall rates are dropping, people over 50 have actually seen a rise in divorces. Dubbed “gray divorce,” data from Pew Research Center show that […]
Divorce is rarely easy, and its implications on your finances can be complex. Here’s a look at the main tax consequences of divorce for you and your ex-spouse. Child support If you and your ex had children, one of you would likely need to pay […]
Divorced parents raising their children in two households face real difficulties. The children will likely attempt to leverage what the one parent is supposedly saying or doing to gain advantage with the other. Parents often try to “win over” their children, as if to become […]
1. Having Unrealistic Expectations and the Wrong Mindset Having unrealistic expectations and the wrong mindset are the two most common divorce mistakes people can make. There are many people that approach divorce as a battle and make decisions accordingly. While this makes divorce professionals a […]
Divorce can be difficult to deal with, no matter why it happened, or how long the marriage was. Not only can it take a toll on you emotionally, but it can also be draining physically. However, while divorce may be difficult, that doesn’t mean all […]
When parents are more focused on the legal process of divorce and their own emotional needs than their children’s needs, those children are irreparably harmed by divorce – and they suffer due to parents who are unable to parent and divorce at the same time. […]
If you suspect that you’re heading for a divorce, you’re not alone. Many people can tell that their marriage is struggling long before they decide to file for divorce. Even if you’re not committed to ending your marriage, this time before you make things official […]