If you were considering divorce in 2020, you may be like many other women now: up to your neck in dealing with COVID-19 (CoronaVirus) in your personal life, and in your work life. You also may be sheltering-in-place with a partner you’d rather not see day-in and day-out. Know that you are not alone! Here are some steps you can take during the stay-at-home mandates that will lay the ground work … [Read more...]
Divorce Planning
Divorce planning involves consideration of a wide range of issues including parenting and child custody (when children are involved), and often very complex financial matters. We provide expertise in identifying all the issues that need to be discussed and resolved between the parties in such a way that communication is enhanced and better decisions for all can be reached in the process.
We have created a number of articles addressing many of these topics and offer them for your consideration to assist you in preparing for the sometimes lengthy process of preparing for the divorce.
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Spousal and Child Support During Divorce
Dealing with the Spouse It is especially important to be business-like with your spouse, since emotions can interfere with negotiations. Don’t let old battles rekindle. Refuse to continue a meeting that degenerates into a battle. While you want to be clear about what is important to you, try not to make your demands excessive. Never use your children as a pawn to hurt the spouse or draw … [Read more...]
Dividing 401(k) savings, corporate benefits and pension funds in a divorce
If you and your spouse are considering, or are in the process of divorce, and one or both of you has corporate or civil service benefits, or a 401(k) savings and/or pension plan, part of the division of these marital assets will involve the drafting of a QDRO, or Qualified Domestic Relations Order. It is important that you understand how this works. QDROs are documents mandated by federal law … [Read more...]
What happens to the family home in a divorce?
The question of what happens to “the house” in a divorce is often one that requires careful consideration. In my experience, this issue is often clouded by emotions that can get in the way of the couple, or one spouse, making the best financial decision. I advise my clients to pause, set aside emotions and objectively consider all the significant, interrelated factors before deciding on what … [Read more...]
Don’t fight over pots and pans
As a Certified Divorce Financial Analyst, I consider my primary focus to be one of helping divorcing individuals and couples sort out and divide the marital estate in an equitable manner. This typically requires gathering all financial documents and statements with regard to all assets and debts. This includes the couple’s savings accounts, retirement accounts, credit card statements, brokerage … [Read more...]
What you may not know about divorce and debt
The financial aspects of a divorce case involve multiple, interrelated components. All eyes are typically on the couple’s assets and how to equitably divide them in a settlement. Yet, in my view, one area of a couple's financial landscape that warrants equally close consideration during divorce is the couple’s debt. Get a credit report on yourself and your spouse I recommend ordering a … [Read more...]
What is an equitable divorce settlement?
I am often asked to help divorcing individuals and couples determine how to equitably divide their marital estate. This may seem to be cut-and-dry, but it rarely is. For one, many people believe that the court will automatically divide a couple's assets 50/50 in a divorce. This a myth. The Texas Family Code (the laws on divorce) uses the words “just and right” when dividing community assets … [Read more...]
Is your spouse hiding assets, income or debt?
I If you are currently in a dysfunctional marriage, or considering divorce, you may be wondering if your spouse could be hiding assets, income or debts from you. Sadly, your fears are not that unusual. In fact, financial mischief is fairly widespread among couples today, even if they are not in the process of divorce. According to a study conducted by The National Endowment for … [Read more...]
Five proven benefits of gratitude — even if you are going through divorce
Facing difficult life challenges, such as going through a divorce, may not seem like a logical time to be thankful. Yet studies have shown that cultivating gratitude, even when the chips are down, can have profound impact on our health -- for the better. Gratitude improves physical health. A 2012 study published in Personality and Individual Differences found that grateful people exercise … [Read more...]
Dividing pensions in a divorce may require special financial assistance
If you and your spouse are considering, or are in the process of divorce, and one or both of you has a corporate or civil service pension, know that all pensions are not created equal. This fact is extremely important to understand as you proceed toward an equitable division of your marital estate. In dividing pension benefits in a divorce, your attorney will be required to create a QDRO … [Read more...]
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