To some divorcing couples, dividing the house can be as emotionally painful as the divorce itself. One or both spouses may have a deep attachment to the house and think that the only thing that matters to them in the divorce process is keeping the house. At Hoffman Divorce Strategies, we work with our clients and their counsel to help them … [Read more...] about Dividing the House When Divorcing the Spouse
Going through a divorce is difficult enough with all the decisions that need to be made about property division. Louisiana is a community property state, meaning that all assets that were accumulated during the marriage belong to the community and need to be allocated to each spouse in the Property Partition. Most divorcing couples know that a retirement plan, like … [Read more...] about Divorce and Dealing with 401(k)s: What Attorneys and Clients Need to Know
Between March and June 2020, 34 percent more couples were filing for divorce than in the same period in 2019. The combination of the COVID-19 pandemic and stay-at-home orders is to blame. The strain on a marriage of unemployment, financial insecurity, illnesses, deaths of friends or loved ones, and homeschooling children, have pushed many couples to file for divorce. With … [Read more...] about Divorce Tsunami: How We Help Attorneys and Clients
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
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?
When you’re going through a divorce, every penny counts. Hiring a good lawyer, paying for mediation services, and managing your future child support are just a few of the major costs you’ll need to think about, and that’s not even taking day-to-day expenses into consideration. Are you wondering how you’ll be able to manage the style of living you’re used to? Before running out and asking … [Read more...] about Simple Ways to Save Money During a Divorce
In the United States, 40 to 50 percent of marriages end in divorce. Couples end their marriages for a variety of reasons, but researchers have pinpointed three leading causes, in particular. 1.) Incompatibility. Believe it or not, incompatibility is the leading cause of divorce here in America. The Merriam-Webster Dictionary defines incompatible as being “incapable of association or … [Read more...] about The 3 Leading Causes of Divorce
Tax Day 2020 may seem like a long way off now, but it’ll be here before you know it. If you’ve recently divorced, it’s important you understand the implications of this decision on your tax bill and tax refund. No two divorces are exactly alike, but there are three things you can do to prevent fines, penalties or other unwanted surprises. Keep reading to learn more. 1.) Gather your … [Read more...] about These Tax Tips Can Make the Transition to Single Life Easier