Navigating the divorce process can be particularly challenging for families. While dividing assets is rarely easy in any scenario, determining how to divide accounts you started for your children during your marriage can raise additional questions and concerns. Types of children’s financial accounts There are several types of accounts parents open for their children. Some…
When going through the divorce process, taxes likely are not top of mind. Despite this, there are many common questions divorcing spouses have regarding how their children factor into the tax equation post-divorce. Can both parents claim dependents on taxes? After a separation or divorce, only the custodial parent can claim their children as dependents…
A financial advocate looks out for your best financial interests. Because divorce involves making financial decisions about asset division, spousal support and child custody, it’s helpful to have a financial expert looking out for your interests. A divorce financial specialist can make the complicated financial issues easier to understand, so you feel more confident about…
During divorce mediation, spouses meet with a neutral third party to determine issues, such as how to divide property, spousal support and child custody. The spouses, rather than the court, structure their own settlement. Divorce mediation can save time and money—and give spouses more control over the outcome. Generally speaking, a mediated divorce has a…
Military retirement benefits differ from other government retirement benefits—and likewise, so do the timelines and eligibility rules in a divorce. If a military pension is involved in your divorce, it’s important to understand some recent changes in eligibility, how military pensions differ from other government programs, health care benefit eligibility, disability payment rules and post-divorce…
When you’re preparing to go into divorce mediation, there are certain steps you can take to help the process go smoother. Below, read about what to do and what not to do in mediation so you are ready for an effective and satisfactory mediation process. Do Get Organized As we mention in our How To…
The short answer is that divorce will not affect your Social Security in negative ways. There are, however, certain circumstances that may lead to changes in the amount that you or your spouse can collect in Social Security benefits. Read on to learn more about how you or your spouse’s Social Security benefit could change…
Divorce can be a difficult process for anyone, but it can feel especially intimidating for stay-at-home parents. There are important factors for both parties to consider during a divorce in a one-income household, but in this article we will focus on those factors that are particularly relevant for spouses who have not historically contributed to…
One worry shared by many people entering into a divorce is the question of whether their spouse will take everything in the settlement or whether dividing their assets and debts will be a major financial setback. While there are certain strategies to consider to avoid this outcome, such as working with financial professionals and settling…
It is not uncommon for couples to reach an impasse in divorce settlement negotiations. Even if you and your spouse are on good terms at the point of negotiations, there are bound to be disagreements and even moments when it feels like you cannot move forward with both parties on board. Luckily, there are strategies…