Category: Divorce and Money
How Should Retirement Assets be Valued in Divorce?
Many a highly trained family law attorney will “tax affect” retirement accounts by using the after tax value of a retirement account on a couple’s inventory of assets. As a divorcing man or woman you need to know that this method of valuation is more of a negotiation tactic then economics. Left unchecked, the spouse receiving more of the … Continue reading How Should Retirement Assets be Valued in Divorce?
Credit Cards in Divorce
Divorcing couples often use their credit cards to pay attorneys and other professionals so these expenses can be tracked and divided at settlement. During divorce, credit cards can get “maxed out” to their limit. Divorcing couples are often concerned about the cost and the impact to their credit scores. They are also concerned about the … Continue reading Credit Cards in Divorce
Marriage, Financial Planning, and Your 401(k) Rollover
My Today’s Alerts series highlights ideas generated in my divorce financial advisory practice. Kate* called to let me know that she’d decided to leave her company, AFD, Inc., to pay attention to her start-up business full time. She wanted to make a clean break so she planned to add the 401(k) to her existing IRA right … Continue reading Marriage, Financial Planning, and Your 401(k) Rollover
The Most Important Part of the Tax Return
My Today’s Alerts series highlights ideas generated in my divorce financial advisory practice. When I look at a tax return I’m generally looking for previously unidentified income streams, accounts, businesses, and property. One thing I don’t want you to miss is found in the taxes and refunds section. Refunds can be applied to taxes next year. In divorce, this is … Continue reading The Most Important Part of the Tax Return
Hidden Cash Found! Dividing Assets in Divorce
My Today’s Alerts series highlights ideas generated in my divorce financial advisory practice. For many divorcing couples, cash is tied up in their home or retirement plans. But couples need available cash to start their lives over again. What can couples do? As always, consult your attorney as to whether you are able to sell assets or … Continue reading Hidden Cash Found! Dividing Assets in Divorce