Filed in: Money and financial tips for divorced people By: Phoebe Montague Title: How to Improve Your Credit Score and Repair Your Bad Credit After Divorce I am probably the last person who should be dispensing financial advice for people in a divorce situation. But I do know the mess you can find yourself in … Continue reading “10 Tips for Repairing and Increasing Your Credit Score After Divorce”
Fighting over money: Divorcing couples are notorious for fighting over money. Why do they do that? They say money talks. I say, money never talks as loudly as when two people decide to end their marriage. Boy. Talk about a guerre mondiale! I was just reading Lady Chatterley’s Lover by D.H. Lawrence, actually he said … Continue reading “Money: Why Do People Fight So Much Over MONEY When They Divorce?”
Yes, it is possible to avoid paying alimony but with some of the methods, you had better be careful.
Let’s say there is a law or medical degree that comes from it and you are benefiting from that degree during the marriage, then arguably you should help pay for the debt – especially if when you divorce you expect spousal support that comes from that degree (and debt!)
There are so many things of value in our lives often times we don’t even realize it – until its time to divorce and split assets. If you are in that situation, Divorce Saloon has compiled a table below of 50 assets you should include in your asset list for your attorney. You need these to figure … Continue reading “50 Assets to Include on your Asset List (When You Are Divorcing)”
With the increase in the number of millionaires in the country, it is no wonder that there is a corresponding increase in high asset divorces – both in the US and abroad. The problem challenge of how to accurately value complex assets such as businesses, real estate and retirement accounts cannot be understated. The cliché … Continue reading “Complex, High Asset Divorce Cases and the Challenge of Valuation”
26 U.S. Code § 1041 – Transfers of property between spouses or incident to divorce. So, in this post I discussed property division and specifically the criteria judges used to determine what divorcing parties would get in their property settlement. I briefly touched on the issue of alimony vs property settlement and the taxable consequences. … Continue reading “Getting Divorced During Tax Season? Do You Know about 26 U.S. Code § 1041 – Transfers of property between spouses incident to divorce?”
Once you have itemized every single thing you own with your spouse in the asset column, then indicate the spouse who owns it or if all is owned jointly you just tick down the JOINT column. Then indicate the VALUE of the asset in the last column.
So here you are recently divorced and with a big fat check itching in your hands. What should you do with it rather than squander it like some people have been known to do? No, I am not thinking about Heather Mills ex wife of Beatle Paul McCartney. But a lot of women especially who … Continue reading “Got Big Alimony Check and Want to Invest in the Stock Market? Here are 6 top Stock Picks for 2017”
Is it possible to get more than 50 percent of your spouse’s retirement benefits when you divorce? When it comes to divorce retirement benefits, it would seem logical that the person who actually worked and accrued these benefits should get the biggest chunk of it if the parties divorce, right? But this is not always … Continue reading “Yes, It is Possible to Get More Than 50 Percent of Your Spouse’s Retirement Benefits When You Divorce”
Divorce Money Matters It happens pretty often that a divorcing spouse is entitled to certain monies such as income from retirement accounts or securities or even what is called “deferred compensation” that they never receive a penny. This happens if they had an incompetent attorney, or if they did not get adequate financial advise during … Continue reading “Divorced? Are You Entitled to Money That You Are Not Getting?”
When you get divorced says Mark Eghrarl who writes for Forbes Magazine, you have to change everything. This includes the beneficiary of your life insurance policy. It makes sense. If you are divorced from this person why would you want them to continue to be the beneficiary if and when you die? “Well, it depends … Continue reading “Divorce & Your Life Insurance Policy: Should you remove your spouse as beneficiary?”
There is a new mortgage product that is expected to be unveiled by certain European banks in a few months. It is called the Divorce Mortgage. The idea seems to be that banks will lend money to one of the parties in a divorce to buy out their spouse. This way the party gets to … Continue reading “What is a Divorce Mortgage?”
Divorce and Assets…50/50 is Often Anything But. As the song goes “Breaking up is hard to do”. This can be especially true when accumulated assets are involved. Unfortunately, most enduring a divorce are typically immersed in a sea of emotions, prompting them to rely on legal counsel to advocate on their behalf in this area. … Continue reading “Your Assets & Your Divorce: What you should know (guest article)”
So, according the Lloyd’s Bank, when it comes to your finances and divorce you would be wise to take these steps the moment you realize (and sometimes even before) that a divorce is on the horizon: Plan for your children’s post divorce life. What will their needs be? Which of you is better able … Continue reading “Your Divorce Financial Checklist: What Should Be on it?”