January can be an opportunity for a fresh start. And for some, that means ending unhappy marriages. In fact, January is known as “divorce season,” the top month for divorce filings. For some, the change will be welcome, while for others it will come as a shock when they learn their spouse is leaving. If…
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Getting The Most From A High-Dollar Divorce
Divorce is almost always an emotionally taxing experience. Divorces that involve millions (or billions) of dollars have an added level of intensity and drama. It’s not uncommon for the parties in a divorce to act in irrational ways that may be counter to their own best interests or to make simple financial errors that can…
7 Resolutions to Having a Great Newly-Divorced Year
If 2015 will mark the first full calendar year since your divorce, January may feel not only like the beginning of a new year, but also the start of a new life. Divorce is a major life change, so what can you do to make this next year a change for the better? Besides all…
Taxes and Divorce, What You Need to Know
Finances and taxes are a significant issue during divorce, especially when children are involved. There are also special rules in the tax code that govern divorce and separation. It’s important to be apprised of these rules. Dependency Exemption. If you are the custodial parent of the children, you can claim a dependent exemption of $3,950…
Ready to call it quits on your marriage? A little early planning can go far in helping you protect your finances
“Last year I saw a 10 to 15% increase in consultations in January, peaking at a more than 40% increase in March,” says Lisa Decker a certified divorce financial analyst in Kennesaw, Ga. “I refer to January as the beginning of ‘Divorce Season.’” If you’re among those who’ve decided that 2015 is the year you’ll…
Essential Things You Must Do When Contemplating a Divorce
Divorce can release two people from a miserable marriage and set them free to pursue happier but separate lives. However, going through a divorce is never easy. When divorce becomes inevitable, there are certain things that you should do to make it easier. 1. Be Proactive on Family Finance If you have not been very…
3 Reasons Your Spouse May Be Reluctant to Divorce – And What You Can Do About It
Let’s get one thing straight right off the top… If one of you wants a divorce, you are both getting a divorce. You don’t need your husband or wife to give you permission to divorce them. But how you proceed and how difficult you make it on yourself and your children is up to both…
Divorce and Taxes Can Be Complicated
Going through a divorce can be a dramatic and trying time. Issues such as division of property, custody of children and family support are huge. And the decisions made to resolve these issues have a tax impact. It is important to know how you will be affected and take steps to minimize your tax liability.…
I Turned Down Alimony – 3 Women’s Stories
In reporting this story I came across a number of people who chose not to take spousal they were entitled to. Here are their stories: “Asking for alimony would be like asking for a pension for a job I no longer did. It just didn’t seem fair.” Suzan French married at 18, soon after had…
Protect finances in later-in-life divorce
When you’re over 50 and facing divorce from a long-term marriage, coming to a settlement agreement that will safeguard a comfortable financial future is complicated. “Till death do us part” isn’t the case for many Baby Boomers today. “Gray divorces” are occurring more than ever before – the rate for adults ages 50 and older…
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