After your divorce is finalized and the various accounts divided and settled, you will be able to update your beneficiaries. Assuming your partner or spouse was previously your primary beneficiary, you’ll need to update all retirement plans to properly pass assets to your heirs. While...
If you are recently divorced, you may be experiencing a lot of ‘firsts’. For example, you may have to do your own taxes for the first time and feel like a deer in headlights, frozen and overwhelmed by the facts and figures you are sorting...
Going through a divorce can often feel lonely and confusing. Even if you know others who have been through a divorce, the process has evolved significantly in the last decade, and friends and family don’t always have the most up-to-date advice and insights to offer....
While divorce is probably a very familiar topic to you, legal separation may not be something you hear about as often, or fully understand. While these two approaches to cutting ties with your spouse are more alike than different, one may better serve your needs...
If you are currently contemplating a divorce or going through the process of a divorce, you are likely learning more than you ever expected. From understanding how to complete household tasks that your partner once did to sorting through your finances in detail, taxes might...
If taxes aren’t confusing enough, the Child Tax Credit will change substantially in 2021, impacting 2020 filings and beyond. These changes will add complexity to filing for couples going through a divorce. The new tax credit will also create complications for divorced parents with dependents...
The Tax Cut and Jobs Act (TCJA) that went into effect this year for divorcing couples has drastically changed the financial landscape for individuals from prior years. The most significant change is that spousal support (alimony) is no longer deductible if paid or taxable income if...
Your divorce is final, you can finally breathe and start to rebuild. The next item on your to-do list is complying with your agreements and facilitating the division of property. Transferring property can be tricky and sometimes trigger unintended tax consequences. Typically this happens to...
When dividing assets in divorce most people, individuals, mediators and attorneys alike, tend to focus on the property division spreadsheet. Current values of assets are listed along with outstanding debt balances that are deemed to be marital. Typically, above all else, the focus and end...
When dividing assets in divorce individuals, mediators and attorneys alike, tend to focus on the property division spreadsheet. The current values of asset and debt balances determined to be marital are outlined. Typically, above all else, the focus and end goal is to split property...