When negotiating your divorce settlement, it is important to carefully review every detail. Once a settlement agreement is reviewed and signed by both parties, the divorce is considered finalized. What happens then if it is discovered that something has been left out of the agreement? What recourse, if any, do…
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…
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…
If you filed for divorce immediately prior to or during this time of COVID-19, chances are good that your case is experiencing delays. The restrictions imposed to help stop the spread of this virus have caused the closure of a number of businesses, government agencies and many courts to all…
The distribution of assets is one of the biggest hurdles, after matters pertaining to children, that a divorcing couple faces. While it may be easy to assign ownership to certain assets, big-ticket items like the family home are a different story. Some couples just want a clean break. They sell…
Couples rarely enter a marriage thinking that their union will one day end in divorce. Yet, it happens, and when it does the financial consequences can be catastrophic, especially for the small business owner. In this case, divorce not only impacts your immediate family, but also your business partners and…
It isn’t unusual in a marriage for one spouse to assume responsibilities for managing the family finances and investments. Hopefully, that spouse has a good handle on the family’s overall financial health; the non-managing spouse, on the other hand, too often is unaware of details that could serve him or…
Marriage is a partnership, therefore, it is not unusual for couples to share both assets and liabilities while they are together, but what happens in a divorce? Usually spouses, with the help of their lawyers, will work to reach agreements for the distribution of property and other assets. The court…
For many people, the decision to divorce comes after months or even years of assessing their situation and giving careful consideration to all other options. But, no matter how long you have lived with the possibility of divorce, taking that first step to end your marriage is very emotional. Emotions…