Category: Divorce and Money
Managing the Division of Taxable Brokerage Accounts and IRAs in Divorce
Your Mediated Settlement Agreement (MSA) outlines how financial accounts will be divided between you and your soon-to-be ex-spouse. Completing these transfers promptly may be especially important when one spouse continues to draw from joint resources. The challenge is to divide accounts efficiently while avoiding unnecessary taxes, fees, or costly financial mistakes. Consider working with a … Continue reading Managing the Division of Taxable Brokerage Accounts and IRAs in Divorce
Investments in Private Companies: What information does a divorcing spouse need in order to evaluate these interests?
Determining the value of a privately held business during divorce is one of the most challenging, time-consuming, and costly aspects of dividing financial assets—especially in uncertain times like 2020, when COVID-19 revealed both vulnerabilities and unexpected opportunities for many businesses. A qualified business valuation expert plays a critical role in appraising these assets and requires … Continue reading Investments in Private Companies: What information does a divorcing spouse need in order to evaluate these interests?
Divorce and the New Tax Law
The new tax law, Tax Cuts and Jobs Act of 2017 (“TCJA,”) impacts many of the most commonly negotiated terms in divorce. I’ll briefly cover just a few here. Please be sure to review your tax status with your tax planner or attorney before next year. Alimony: For divorce decrees after December 31, 2018, alimony … Continue reading Divorce and the New Tax Law
In Divorce, Nearly Missed Opportunity – The Mortgage Payment
An attorney called me concerned that her client, Jill*, would not be able to afford to keep the family home after divorce. Jill wanted to keep that home but the attorney believed her budget couldn’t tolerate the payment. Jill insisted that she could figure out a way to make it work on her salary as … Continue reading In Divorce, Nearly Missed Opportunity – The Mortgage Payment
Deferred Maintenance on the Primary Home or other Real Estate in Divorce
A post divorce prospective client, Linda*, called me last week. She signed her divorce decree over a year earlier and is now trying to divide property and accounts. Linda was awarded the home and previously unidentified expenses have come up. She may have to sell the home as is, at a reduced value. Likely proceeds … Continue reading Deferred Maintenance on the Primary Home or other Real Estate in Divorce