The distribution of assets can be one of the most complicated and contentious aspects of any divorce. That applies to the division of retirement accounts, too. Failure to correctly identify the type of retirement plan involved can lead to tax complications down the line. Distributions from IRAs and Qualified Retirement…
If you are recently divorced or currently going through the process, even routine matters like filing your annual tax return raises questions. Can we still file jointly? Must I add spousal or child support payments to my adjusted gross income? Which one of us can claim the children as dependents?…
For many divorcing couples, co-parenting arrangements offer viable solutions to less-than-ideal situations by allowing each parent to maintain an active role in the parent/child relationship. These arrangements, however, are not without their challenges, and that was never more true than during the current pandemic. Thanks to COVID-19. such questions as…
The past year brought unprecedented challenges that caused many of us to reassess various aspects of our lives – our jobs, our lifestyles, our relationships. For many couples, the challenges proved too much, leading them to contemplate divorce. Terminating a relationship is a big step not to be entered into…
Transitioning from married life back to single life can be unsettling, especially when there are children involved. Nothing about your everyday life in the time leading up to your divorce is quite the same yet, for the sake of your children – and your own emotional health – it is…
A lot of questions come into play when you are contemplating a divorce. Many of those questions depend on where you are in life now. Have you and your spouse considered all your options? Are there children involved? What are their ages? Where do you stand in your career? Are…
No matter who initiates a divorce, it is a traumatic experience for all involved. After all, it represents the end of a lifestyle that you’ve envisioned for your future and the end of the family unit as you’ve come to know it. Unfortunately, divorce is not a quick process. It…
The stimulus payments many people received to help ease some of the financial hardships incurred as a result of restrictions stemming from the COVID-19 virus were based on information the government obtained from recently filed income tax returns, specifically information relating to adjusted gross income and filing status. As a…
Even when a couple grows apart, it doesn’t always mean they stop caring for each other, particularly if they had been in a long-term marriage. They may lead separate lives, both physically and emotionally, yet remained legally married because their finances are so intertwined that moving from shared to separate…
People rarely think clearly or make their best decisions when emotionally upset and divorce ranks right up there as second on the list of life’s most stressful events. It’s no wonder because not only are you legally dissolving your marriage, but you also are experiencing an emotional separation from a…