Today's Decisions Establish the Foundation for Tomorrow's Financial Security
If you are facing divorce, there are several steps that you can take to complete the process for less cost, thereby reaching a settlement that is more consistent with your individual needs, goals and objectives.
Life Insurance is an important matter that should be considered whenever there is alimony (spousal support) and/or child support involved. Unfortunately, there are a host of issues related to life insurance that are typically not understood and not adequately addressed during the settlement process.
Professional fees you pay related to tax advice and spousal support (alimony) may qualify as deductions on your tax return.
Don’t complete your final settlement until you understand the potential future tax consequences. Regardless of what your settlement agreement states, the IRS and California Franchise Tax Board regulations dictate what is taxable, what is deductible and how much tax you will have to pay.
How To avoid paying 35 million dollars for your divorce
The divorce settlement process involves legal, financial, emotional and in many cases, child related issues that must be addressed. Within a cooperative divorce process, the role of the divorce financial professional is to work with you towards reaching a fair and equitable settlement. The professional who specializes in the financial issues related to divorce is [...]
The financial decisions you make during the settlement process will significantly affect your financial future. That’s why it’s crucial to understand and consider the potential long-term financial consequences of your decisions before you agree to a final settlement. In a previous blog I listed 8 common financial mistakes made during the divorce process – here [...]
Part 2 – DURING: The financial decisions you make during the settlement process will significantly affect your financial future. That’s why it’s crucial to understand and consider the potential long-term financial consequences of your decisions before you agree to a final settlement. Here are common financial mistakes made during the divorce process: – Not preparing [...]
The ideal time to begin working on the financial issues related to your divorce is before the formal process begins. Deciding not to do anything or acting impulsively without knowing the potential long-term financial and tax consequences can be disastrous for your financial future.
There are 5 common financial mistakes that people make during their divorce. Are you making one?