Posts Tagged ‘Divorce Financial Advisor’
This Season on RHONJ…
It’s a simple concept but somehow it comes up over and over; the ramifications can’t be emphasized enough: Very few women (and men) fully understand the legal and financial implications that their partners’ actions have when married. Whether it’s purposeful denial of reality or that someone lacked the capacity to understand the math involved, you…
Read More
Take Control of Your Case. Take Control of Your Future.
Female clients who are the higher earning spouse are trending in my practice. These women are successful professionals who fear they have more to lose in a divorce than their spouses. They’re not only responsible for most of the financial obligations, they often retain the majority of household responsibilities including child rearing. They naturally trust their…
Read More
4 Rookie Mistakes “Chumps” Cheated on Make…
Last week, I flew to Washington DC for the weekend in order to attend a book launch and after-party for author Tracy Schorn at the National Press Club. Not only does Tracy write the daily blog chumplady.com, with over 10 million views, but her new book Leave a Cheater, Gain a Life is a #1…
Read More
That Son of a B*#!h Took My Dependent! What Do I Do?
I clicked the e-File button to submit a last-minute client’s tax return. Within minutes, the IRS pinged me in their cryptic code: “Another taxpayer has claimed this dependent in a tax return already filed.” When that happens, there can only be two scenarios: either somebody has stolen their child’s identity or their ex-spouse has beat…
Read More
3 Details NOT to Be Put Off to Your “Post-Divorce” Checklist
Most people don’t realize there is anything left to do after the divorce agreement is finalized. Once they’ve hammered out the details of the divorce settlement, signed on the dotted line, and accepted their fate, many clients assume that their attorney is going to take care of all the transitional issues for every item. However,…
Read More
Put Your Money to Work Toward Your Future
Perhaps you are newly divorced or are going to be filing your tax return without your spouse for the first time this year. Failure to plan ahead can result in an unexpected tax liability. However, with proper planning, you may find yourself in the fortunate position of receiving a refund. Here are some suggestions about…
Read More
Should I Try to Keep the House? (Divorce & Mortgage Issues)
One of the most complex questions in litigation or mediation is, “Should I try to keep the house?” This calculation requires accurate financial analysis prior to negotiation to evaluate whether (or not) it’s a worthwhile want. Because the marital home is such an emotional trigger, it often leads clients to override logic with wishful thinking—“Yes,…
Read More
Since Lifetime Spousal Support Is Dying Away…
Once upon a time, in a land far, far away, “marriage, motherhood and homemaking” was considered a practical answer to the dilemma of long-term financial security. Lots of things have changed for better or worse. In the plus column: higher education, greater job opportunities and more “you can have it all, baby.” On the minus…
Read More
Good News / Bad News – Tax Facts About Spousal Support
Each tax season in my work as a CFP, I have the unpleasant task of informing a recent divorcee that they have an unexpected and substantial tax liability. It’s a curious phenomenon that during tax preparation, the spousal support payor rarely forgets the deduction and chimes in with, “Don’t forget to include my alimony –…
Read More
The Hidden Benefits of “Tax Season”
In most marriages, it is not unusual for one spouse to have a more “hands-on” role or a better understanding of the marital finances. For a variety of reasons (fear, control, stereotypical gender roles), the spouse who is less focused on “how the money works” may not possess the information necessary to understand or accurately…
Read More