There’s no question that divorce impacts many areas of your life: family dynamics, social relationships, even your credit score. In fact, 54% of women and 42% of men reported their divorce negatively impacted their credit scores. Why is that? Divorce can change your financial habits and obligations. Joint debt accumulated…
When parents are seeking a divorce, some of the biggest issues they will need to resolve involve their children, specifically custody arrangements and child support. On the most basic level, child support is intended to cover the essential, daily needs of the children: food, clothing, and shelter. But support payments…
For most couples, divorce isn’t a decision arrived at overnight. Usually, the decision to divorce comes after long periods of living with irreconcilable differences and numerous attempts to resolve conflicts. It is understandable then why, once the decision to divorce is finally reached, couples just want it to be over…
When negotiating your divorce settlement, it is important to carefully review every detail. Once a settlement agreement is reviewed and signed by both parties, the divorce is considered finalized. What happens then if it is discovered that something has been left out of the agreement? What recourse, if any, do…
The distribution of assets can be one of the most complicated and contentious aspects of any divorce. That applies to the division of retirement accounts, too. Failure to correctly identify the type of retirement plan involved can lead to tax complications down the line. Distributions from IRAs and Qualified Retirement…
If you are recently divorced or currently going through the process, even routine matters like filing your annual tax return raises questions. Can we still file jointly? Must I add spousal or child support payments to my adjusted gross income? Which one of us can claim the children as dependents?…
For many divorcing couples, co-parenting arrangements offer viable solutions to less-than-ideal situations by allowing each parent to maintain an active role in the parent/child relationship. These arrangements, however, are not without their challenges, and that was never more true than during the current pandemic. Thanks to COVID-19. such questions as…
The past year brought unprecedented challenges that caused many of us to reassess various aspects of our lives – our jobs, our lifestyles, our relationships. For many couples, the challenges proved too much, leading them to contemplate divorce. Terminating a relationship is a big step not to be entered into…
Transitioning from married life back to single life can be unsettling, especially when there are children involved. Nothing about your everyday life in the time leading up to your divorce is quite the same yet, for the sake of your children – and your own emotional health – it is…
A lot of questions come into play when you are contemplating a divorce. Many of those questions depend on where you are in life now. Have you and your spouse considered all your options? Are there children involved? What are their ages? Where do you stand in your career? Are…