Category: Taxes and Divorce

Financial Life after Divorce – Armageddon or Nirvana

You signed the settlement agreement but you’re not settled yet. There’s still lots to do! You need to divide accounts, change insurance or beneficiaries, get a new estate plan and for some of you, move out of the house! Many people get hung up at this point, pondering “What will my life be like now?”  … Continue reading Financial Life after Divorce – Armageddon or Nirvana

A House Divided: Your Home in Divorce

For most couples, the family residence is one of their largest assets.  In divorce, the family home is treated like any other asset, but it is an asset unlike any other. The family home isn’t easily divided. Budgetary concerns and tax issues coupled with emotional ties to the home can lead to catastrophic financial outcomes. … Continue reading A House Divided: Your Home in Divorce

Strategic Ideas for Allocating Investment Accounts between Divorcing Couples

Silicon Hills Wealth and Divorce Planning of Austin work with clients to execute the division of joint or individual brokerage accounts, IRAs, Roth IRAs, SEP, pensions, and other retirement accounts. When asked to execute a division as described in a divorce settlement agreement, the instructions to the custodian of the account (Fidelity, Schwab etc.) need … Continue reading Strategic Ideas for Allocating Investment Accounts between Divorcing Couples

Your Divorce: Six Essential Elements to a Smart Property Division

Identify Assets and Liabilities Gather the latest statements for your assets (investments, property, business interests) and liabilities (mortgages, credit card debt, auto loans, etc.).  Divorce Planning of Austin uses these statements to prepare an initial list of property to be divided. Collect tax documents for at least the past three years. Reviewing tax returns helps uncover … Continue reading Your Divorce: Six Essential Elements to a Smart Property Division

Top Three Ways to Protect Your Retirement Assets in Divorce

During a divorce, retirement funds such as 401(k) accounts, IRAs and pensions are divisible between both parties. Divorce Planning of Austin assists clients to help them get the most from the retirement savings earned during the marriage. 1.     Each retirement account has a different requirement for legal division.  By engaging each plan’s administrator, we help … Continue reading Top Three Ways to Protect Your Retirement Assets in Divorce