Going through a divorce is a challenging time full of unknowns. One of those great unknowns is your financial security. If you’ve been staying at home while your spouse has been working, or vice-versa, you may be concerned that you won’t have the funds or the support you need to continue living a comfortable life. Here at Hoffman Divorce Strategies, we cater our services to every couple or … [Read more...] about We’ll Help You to Understand Your Financial Options
Have you and your significant other decided to go through with a divorce? While this decision is never easy, one of the most important steps you can take to protect your future is to separate your financials. In this blog post, we’ll provide some tips for doing just that. Get your own bank account. If you are currently sharing a joint banking account, it’s time to go out and open your … [Read more...] about Separating Finances is Key to a Stress-Free Divorce
Going through a divorce is exhausting. Not only do you have to cope with all of the emotions involved, you need to pay the bills, attend your job and take care of dozens of other responsibilities. Until the proceedings are complete, there’s a lot of uncertainty in regards to your finances. Rather than spending all of your free time worrying, why not take steps to ease your mind? The … [Read more...] about Easing Financial Uncertainty During a Divorce
Going through a divorce isn’t easy for anyone, even in the most amicable splits. There are a lot of emotions involved, not to mention drastic life changes, and if you have children or pets the difficult decision-making process often compounds itself. Do you find yourself feeling especially drained lately? This is perfectly understandable, but one thing’s for certain: you don’t want to … [Read more...] about If You’re Getting a Divorce, Don’t Forget the Finances
Once your divorce becomes final, that means adjusting to a whole other set of issues, namely, surviving off one income when you’re accustomed to living off two. Here are some tips to making a post-divorce budget that works for you, no matter your income bracket. 1. Compare your income to expenses. The first step in making a budget is sitting down and figuring out how much you make vs. … [Read more...] about Making a Post-Divorce Budget that Works for You
At Hoffman Divorce Strategies, we help clients who lack clarity on their financial future to be able to see and plan for their success. Whether our client is an individual getting a divorce or a law firm, our work often times involves clearing up what certain financial terms mean as they pertain to divorce. Here are some financial terms we often are asked about at Hoffman Divorce … [Read more...] about Do You Know These Important Financial Terms Regarding Divorce?
You promised to stay with your spouse through sickness, health, and student loan payments. But sometimes, it doesn’t work out that way. If you’re considering getting a divorce, remember that everything in the marriage must be split, whether it’s a debt or an asset. Student loan debt can be particularly tricky, so it’s important to know the facts in order to have a mutually … [Read more...] about How Divorce Affects Your Student Loans
While IRA’s appear similar on the surface, custodian requirements, taxation of allocations and withdrawals, non-deductible contributions, regular and ROTH IRA differences and contractual considerations for IRAs invested in annuities can result in unintended consequences and complications after a Property Partition has been filed with the courts. Hoffman Divorce Strategies has been assisting … [Read more...] about Dividing IRA’s in divorce