One of the main concerns of many people anticipating or beginning the divorce process is protecting assets and losing as little as possible as the case proceeds through the courts. There are three stages of divorce with different tips for asset preservation for each stage. Stage 1 - The Beginning of the Divorce Process There are several crucial financial actions people should take … [Read more...] about 3 Stages of Protecting Assets During A Divorce
While the divorce rate from 1990 to 2015 has remained steady, or even decreased slightly, the divorce rate for adults age 50 and older, referred to as Gray Divorces, has doubled, and tripled for adults ages 65 and older (Pew Research Center March 2017). There are often emotional attachments to assets, that can make negotiations difficult and the divorce process more complex. Couples are … [Read more...] about Gray Divorce: What Attorneys Need to Know
Attorneys and their clients must be careful when dividing pensions and retirement accounts in a divorce. Hoffman Divorce Strategies assists attorneys and their clients with the complex questions that need to be answered to make sure that the property partition filed with the Court contains enough information to divide the pension and retirement accounts, and that the clients understand what is … [Read more...] about PENSION and RETIREMENT ACCOUNTS – What Attorneys Should Know
We all need financial stability to function in society, and divorce is a severe challenge to the financial lifestyle a couple may have been accustomed to during their marriage. Add in the fact that filing for and completing a divorce can be expensive with the professional fees and court costs involved and the idea of splitting up everything accumulated during a marriage becomes … [Read more...] about Financing a Divorce – A Good Idea?
The Coronavirus pandemic will change the scope of divorce negotiations. Generally, couples are under more strain now than they would have been at this same time last year. The health risk and stay-at-home orders are raising stress levels. The pandemic has also caused economic uncertainty and placed financial pressures on individuals and businesses. This will all have a big impact … [Read more...] about Coronavirus: Changes in the Scope of Divorce Negotiations
The Federal Coronavirus Aid, Relief, and Economic Security (CARES) Act, which was signed into law by President Trump on March 27, 2020, provides trillions of dollars of economic stimulus money. There are many ways this stimulus plan could have an impact on individuals depending on their circumstances. Family law attorneys and their clients need to be aware of how the CARES Act may impact … [Read more...] about Coronavirus Stimulus Plan: What Do Attorneys Need to Know?
The Coronavirus pandemic is having a profound impact on the way people in Louisiana do business, including Hoffman Divorce Strategies. We have adapted quickly to effectively meet the needs of our clients and with attorneys. We are streamlining our business in ways that will have a lasting impact even beyond the pandemic. We are, of course, avoiding in-person meetings as much as possible. … [Read more...] about The Impact of the Coronavirus
In many marriage relationships, one of the partners is the one who primarily handles the finances. When a couple divorces, this can cause the negotiation process to become stalled in emotion as the spouse who is less informed struggles to understand their financial situation. At Hoffman Divorce Strategies, we are financial professionals that attorneys rely on to help the less financially … [Read more...] about What are the Responsibilities of a Financial Professional During a Divorce?