Couples going through a divorce know that change is inevitable and planning essential, especially when it comes to finances. With tax laws constantly changing, many are caught by surprise when they file their first post-divorce tax return, only to realize they failed to consider an important tax item. Below are a few tax curveballs you could encounter in your first post-divorce return. … [Read more...] about Divorce Tax Curveballs
After Hurricane Ida cut a path of destruction through Louisiana, family law attorneys had to answer special financial questions when preparing community property partitions and support agreements while their clients clean up and suffer with liquidity concerns. We have worked with family law attorneys and their clients since 1999, through several hurricanes, and are experienced in the … [Read more...] about Divorce Tsunami
In the middle of divorce, you may not think about how your actions can make negotiation difficult and increase your professional costs. At Hoffman Divorce Strategies, we work with you and your attorneys to help you understand your finances and prepare you to negotiate or litigate your divorce. Here are 7 Deadly Financial Sins to avoid during your financial negotiations that can help you … [Read more...] about 7 Deadly Financial Sins in Divorce
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?
How to divide assets and what to do about money is one of the most difficult issues facing divorcing couples. At Hoffman Divorce Strategies, we bring financial professionals to the table who have decades of experience in helping divorcing clients understand the short and long-term impact of financial decisions they make in their divorce settlement today. Financial … [Read more...] about Understanding Money and Divorce
The Centers for Disease Control and Prevention says 787,251 American couples divorced in 2017, an average of 2.9 per every 1,000 marriages. In the United States, divorce is ubiquitous. It’s the subject of movies, television shows, and best-selling books, yet many couples going through the divorce process do very little research, especially in terms of finances. Even if you and your ex are … [Read more...] about Benefits of Financial Divorce Analysis
Are you someone who hates even basic arithmetic? We get it. Not everyone is a numbers person, and when your financial future is on the line, trying to navigate a divorce settlement without an advocate is incredibly scary. If you have kids, there are child support and custody agreements to consider, not to mention the divvying-up of property, vehicles, other assets, and debt. That’s a lot of … [Read more...] about Leave the Number Crunching to Us
If you’ve decided to go through with a divorce, you might think it’s just a matter of signing some paperwork, moving out of the marital home and getting on with your life. While it would certainly be nice if things were that easy, this usually isn’t the case. Because your finances are interwoven with your spouse’s finances, it can take months or even years to hammer out all of the necessary … [Read more...] about During a Divorce, Financial Education Matters