Divorce is a time of emotional and financial stress for the entire family. The first and most important decisions revolve around the children and custody if applicable. The next most important discussion is how to divide equity in the family home and whether it will be sold or retained. First, if neither party wants nor is able to keep the family home, it should be listed for sale. A realtor can represent both parties and should be someone experienced in divorce and real estate. The most … [Read more...]
DIVIDING THE BURIAL PLOT AND OTHER FORGOTTEN ASSETS IN DIVORCE
Getting a divorce is emotionally stressful, especially for older individuals who are nearing retirement (called gray divorces). Because of the emotional overload associated with a divorce, it’s easy to forget about assets you own that need to be divided. Everyone remembers big assets such as the house, retirement accounts, brokerage accounts, and vehicles. However, forgotten items may be valuable or emotionally … [Read more...]
The Divorce Is Over – What Do I Need To Do Now?
No matter what type of divorce process you go through, Divorce is never easy! While a Collaborative Divorce will aid in maintaining family ties and co-parenting skills, the fact that you got Divorced means you’re just went through a major life change. Any Estate Planner worth their salt will tell you that any major life event, such as Divorce, will trigger substantial changes to your Estate Plan. Let’s look at the 6 Things you MUST do once your Divorce is Final: 1. Update your power of … [Read more...]
Top 3 Overlooked Financial Issues During Divorce
Divorce is commonly seen as one of the most stressful experiences one will ever go through. Along with all of that stress, you are also making financial decisions that will most likely affect the rest of your life and perhaps the lives of your children as well. For that reason, it’s always a good idea to get the advice of a Certified Divorce Financial Analyst™ or some other financial professional during your divorce process. Having another set of eyes on your situation is … [Read more...]
Avoiding “Death by Divorce”: How a Collaborative Divorce Preserves Relationships
Raise your hand if you know someone who has been divorced. Maybe it’s your friends. Maybe it’s your parents. Maybe it’s you. Keep your hand raised if you know someone who has been through a Collaborative Divorce….. That’s not nearly as many hands in the air as there should be. Why? Because anyone considering divorce needs to know that a Collaborative Divorce can protect all of the people and relationships we care about. Divorce does not have to burn your world to the ground. Play out this … [Read more...]
Understanding Your Divorce Options
Many people find themselves in the middle of a divorce without understanding all of their options. Divorce is a transactional event, but the emotional part of the divorce often makes it much more difficult. Below are descriptions of various ways to handle your divorce: Kitchen Table/Flat Fee When the two partners are able to keep the divorce process completely transactional, and both partners are able to come to their own resolution, this option is one to consider … [Read more...]
When Is It Time To Divorce?
The First Steps You Should Take Oftentimes, when clients come to my office seeking a divorce, they have already committed to the idea that they and their partners are going to be splitting up. They already flew through days filled with fights and tears, rode the waves of resentment and traveled down the marriage counseling pathway. At the end of their journey, the two parties acknowledge that this marriage has now come to an end. Many of my clients are very upfront about … [Read more...]
What To Do When Your Spouse Says He Or She Wants A Divorce
What do you do if you’re the person on the receiving end of the news that your marriage is ending? You have had no chance to prepare yourself to respond when faced with a devastating event that will change everything. You have raged or screamed or reeled and experienced feelings that are so large and overwhelming that you thought they would grab you by the heels and drag you down into the depths of despair until you drowned. You may have begged and pleaded with your spouse or replayed … [Read more...]
Using the “F” Word In Divorce
In a divorce case, we have a rule about not using the “F’ word. No, it is not that word, but it is the word “Fair”. Everyone wants a fair divorce settlement, but exactly what’s “fair”? There are two major issues that must be resolved in any divorce–how to divide assets and what to do about the kids. The major financial issues are to determine what assets belong to the community estate and what assets are separate property, who will pay child support, the amount of child … [Read more...]
Top Worries Children Have About Divorce
The transition from married to divorce can be daunting for parents. Children may have their own worries regarding the process of divorce. The family dynamic is changing in a major way, so they may have concerns and fears regarding this major life change. Parents are well served by maintaining a sense of security in their new situation and being aware of common worries regarding divorce.1.1.2 1. They will be poor - It is very likely that your financial situation will change after the dust … [Read more...]
