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
Divorce
If You’re Getting a Divorce, Don’t Forget the Finances
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
How Divorce Affects Your Student Loans
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
Dividing IRA’s in divorce
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
How to avoid these common money mistakes while getting divorced
Going through a divorce can painful, and many people are tempted to rush things and get them over with as soon as possible. But it’s important to not rush or make mistakes during the process, as that could lead you to miss out on money both now and down the road. Here are three major factors to consider to limit the financial implications of going through a divorce. 1. Look for any missing … [Read more...] about How to avoid these common money mistakes while getting divorced