Category: Divorce Tips

Gray Divorce? Before Baby Boomers see an attorney, they need to read this…

The Gray Divorcée When someone wants a divorce, the knee jerk reaction is nearly always “I’m calling an attorney!” But for the Baby Boomer generation, that may be a mistake. Seeking financial advice before seeing an attorney may save divorcees thousands of dollars. Financial counsel is just as important as legal advice and in some … Continue reading Gray Divorce? Before Baby Boomers see an attorney, they need to read this…

A Thoughtful Guide to Divorce Mediation: The Money Issue

When you marry, you agree to abide by the laws in your state with respect to divorce. In divorce, many spouses finally take the time to learn about those rules. But it’s often too late. For example, Sally didn’t know the rules of separate property so she didn’t know that much of Bill’s wealth was … Continue reading A Thoughtful Guide to Divorce Mediation: The Money Issue

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

Taxes and Divorce: It’s NOT “All About that Bass”. It’s All About that BASIS – that Cost Basis

Although often ignored, the cost basis in taxable accounts and for property is critical to a long term efficient asset division in divorce. What is cost basis?  Cost basis, sometimes referred to as just ‘basis’ or ‘tax basis’, is generally the original cost (purchase price) of a stock, bond, mutual fund, other financial security or … Continue reading Taxes and Divorce: It’s NOT “All About that Bass”. It’s All About that BASIS – that Cost Basis

In divorce, who should pay for college?

This is an important debate. Parents can either ask or offer to pay for college as part of a divorce settlement. However, in divorce, a commitment to pay for college is a negotiating point, not a legal requirement (as some may think). Should it be?  I’m not sure.  That’s where there’s room for debate. Here’s my thought.  If a married couple … Continue reading In divorce, who should pay for college?