Tag: Divorce Finances
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Pre-Divorce Planning
If you are considering divorce, which is not just a deeply emotional decision, but also one of the largest financial decisions you will make in your life, you may feel like you want as much information as possible to help you discern if divorce is the best option for you. Before you file papers, I…
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Holidays in Divorce
The holiday season is often synonymous with joy, festivities, and cherished moments with loved ones. However, for those navigating life during or after a divorce, the prospect of celebrating holidays can be a source of stress and uncertainty. Despite the challenges, careful planning and a positive mindset can help make the holidays a time of…
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It Takes Two to Save Money in Divorce
While most clients aren’t thrilled about communicating with each other during divorce, both spouses typically have a shared goal of minimizing money spent on legal battles. The best way to do this is by working together to get your documents organized and come to the negotiating table with some reasonable ideas in mind.
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Avoid These Tax Tragedies
All assets are not created equal. This is because of the tax consequences associated with different types of investments and the types of accounts that hold the investments. For example, in divorce, you wouldn’t want to offset home equity with a retirement account dollar for dollar. There are a couple reasons for this. Number one,…
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Prenups – They’re Trending
So you’ve DTR – defined the relationship – and you’re engaged! Congratulations! While you’re at it, before you get married, you may also want to DTM – define the money. Prenuptial agreements or “prenups” are a really smart way to protect the assets you’ve built. I spoke with a family law mediator earlier this week…
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Is Your Home Equity Separate or Marital?
In divorce, the marital home is often the biggest asset the couple owns. If the home was purchased during the marriage with marital funds, the equity in the home will be considered 100% marital and therefore split 50/50 in CA. Complications arise if the home was owned by one spouse prior to the marriage, or…
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Reality Check: Spousal Maintenance
if you and your spouse have chosen for you to stay home to raise children while your spouse has continued to work, you cannot rely on a spousal support award that will allow you to never work again. The reality is that the standard of living for both spouses statistically decreases by 40% following a…
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How to prepare for divorce financially
If you are just starting to contemplate divorce or have already had the conversation with your spouse, the next step is to start to understand your finances – arguably before you begin interviewing attorney
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5 Common Mistakes in Divorce
During divorce it’s so important to have the right guidance. You don’t know what you don’t know – and why should you?