Even after the emotional turmoil of a divorce, life goes on, and so do taxes. If you are planning a divorce or in the middle of one, you’ll need to know how to file when tax time comes around again. Do you file jointly or separately? The answer will depend on when you actually get […]
Divorce and Widowhood Advice
More than 50% of marriages end in divorce. Although no one plans to be a divorce statistic, it happens. So, what do you do now?
When you begin the process of divorce, you will soon learn how challenging it can be to untangle your life from your ex-spouse, including your finances. If you and your ex share joint checking and savings accounts, you’ll eventually need to divide these assets before the divorce can be finalized. If your spouse is fighting […]
Even if your children are young at the time of your divorce, you still need to keep college in mind. Your children’s college tuition is likely to be one of the greatest future expenses you face, and even if you get full custody of your children, you should not have to shoulder that burden alone. […]
Ladies, we have been making some serious progress when it comes to income over the last few decades, but with great paychecks come great responsibilities! If you are a high earning woman considering divorce, don’t be surprised if your soon-to-be ex asks for alimony. Many of today’s women are Leaning In like champs, climbing the […]
Watching your child go through a divorce is a difficult experience, especially when emotions get hot. What’s even worse is the possibility that your child’s spouse will receive full custody of your grandchildren and may seek to prevent you from having contact with them. Divorce has a tendency to bring out the worst in people, […]
When Amber walked down the aisle eight years ago, she thought she was going to spend the rest of her life with Marcus. After their second child came along four years ago, they decided that Amber should leave her job as a product manager to take care of the children full time while Marcus continued […]
In 2013, the National Center for Family and Marriage Released a surprising study that showed divorce rates between adults 50 and older have doubled between 1990 and 2010. Now, 1 in 4 divorces in the United States are between couples over 50. On some level, this is good news. It means that the lower stigma […]
If you are finally wrapping up your divorce, you probably feel financially and emotionally exhausted, even if the process wasn’t acrimonious. It takes a lot of work to untangle your assets (and your heart) from another, especially if you were married for a long time. Now, you are facing a life that might look very […]
When couples divorce, mistrust abounds. One of the first things people think of when their spouse asks them for divorce is, he must have been stashing away money. You know more about your financial situation than any stranger could, so before you hire a private eye to look for hidden funds, think carefully about your […]
Divorce can shake you to your very foundations. Everything changes, and many people want to cling to the house as the only stability they find in a shifting world. Whether keeping the house is your best option depends on many different factors. Here are what you need to consider in making that important decision. 1. […]
UN-tying the Knot? Everything You Need to Know When Prince Charming Leaves the Building
My husband and I are talking about getting a divorce after six years of marriage. We don’t have any children, and he thinks we can do it ourselves. What do you think? Doing your own divorce makes sense if your case is not complicated, your marriage was of short duration, you and your spouse have […]
My husband and I have drawn up a list of what we own and we have tentatively agreed on how to split everything. I’m afraid we might have missed listing something. Can you help? As a financial divorce consultant, I often review final property settlements to determine additional tax and financial considerations that should be […]
When I was divorced, I didn’t change my name, but now I want to resume my former name and drop my ex-husband’s name. Is it too late to do this without an expensive attorney? Divorce is very unsettling, to say the least. It is difficult to think about changing one’s name when there are […]
My husband moved out of the house six months ago. I don’t think I can afford to buy him out, and so I am considering moving into the rental condo we have, which means we’d sell our house. But my husband thinks that I should stay in the house until our son leaves for college […]
As a part of my divorce settlement, I am supposed to get a portion of my husband’s retirement plans. I’ll need some of the money to live on, but I’m only 53, so I’m too young to receive retirement benefits. What’s the best way to handle this retirement plan distribution? Generally, a Qualified Domestic Relations […]
My husband just told me he wants a divorce, and he says he’s been thinking about it for quite a while. I’m afraid that he’s taken steps to hide money so that I won’t receive a fair share of our property. It’s smart of your to be suspicious. Although by and large people are pretty […]
I have just been through a divorce, and I feel as though I’ve been through the wringer. I have a great therapist who is helping me through the emotional aftermath, but I don’t know where to begin to get my financial life back on track. Unfortunately, “splitting the sheets” also means splitting the assets and […]
My husband and I are divorcing, and he says that unless I agree to split the property the way he wants, he’ll take me to court and the judge will order us to sell everything. Can he do that? Sure, he can take you to court, but it is unlikely that the judge would order […]
My husband is a spendthrift and we are deeply in debt. Money, or rather, the lack of it, is a constant source of irritation in our marriage, and we have talked about divorce in the past. Now, due to his business problems, my husband says we may be facing bankruptcy. If I go ahead and […]
I know that California says that I get half of the property my husband and I have accumulated during our marriage. But what we have is mostly debts. What’s the best way to deal with them? Unfortunately, its not unusual for couples these days to have more debts than assets. The general rule is that […]
My husband and I are discussing divorce, but we are both afraid that once we get involved in the legal system, it will be very costly and we will lose control of the process. Do you think that mediation would work for us? We asked Genell Greenberg, MSW, who is an experienced divorce mediator and […]
How one woman created her own support group With divorce on the upswing and the original family foundation being divided, there is a growing population of single parents needing support and information on surviving the breakup of the classically acceptable family unit and the reincarnation into the new single parent lifestyle. With the advent of […]
In last month’s column, you learned how to interview attorneys to represent you in a divorce. Once you have set an appointment, you need prepare for that interview in order to get the most bang for your buck when you and the attorney meet. The attorney must have a basic understanding of the facts of […]
A divorce is one of the most traumatic events in a person’s life, ranking right up there with death of a loved one. A divorce is also one of the few times – and maybe the only time – a person has to deal with the court system. Ending a disintegrating marriage is made more […]
Your health is the most important asset you have, and health insurance coverage is a close second. If your health insurance is through your spouse’s employer, once the divorce is final you will need to obtain health insurance for yourself. It is very important that there is no gap in coverage, so you must deal […]
My nine-year marriage has been rocky for quite some time, and my husband and I periodically talk about divorce. A friend told me I should stick it out a while longer since there are benefits to being married ten years or longer. What are those benefits?
I am thinking of divorce, and I don’t know what to do about my credit cards. Will I be able to get credit after I divorce, or will I have to start over?
Each year, nearly 2.8 million men and women go through the emotional and financial trauma of divorce. During divorce, many women are concerned about financial survival—and with good reason.