Dividing the Business

When dividing a business as part of the financial settlement in a divorce,  care must be taken to understand the process for the decision making. Generally a family business is an asset and therefore a source of income for both parties. Patricia Barrett, a certified divorce financial analyst makes these suggestions: Determine if the business is community...

Blending Families and Finances

There are many challenges you will face when being in a relationship.  It is even more challenging  to keep a balance between your past relationship with your new relationship when either relationship includes children.  When there are multiple commitments to family members, dealing with finances can be a sticky situation.  Finances are more often than not a...

Divorce Finance – What You Should Be Prepared For

There are a few financial complications when divorcing your spouse.  You should be correctly informed about your filing status as well as your exemptions and deductions when preparing for the tax season.  First, you have to understand that the marital status for tax filing is set as of the last day of the year (December 31).  According to the IRS, you are...

Drowning in Debt?

If your divorce has left you drowning in debt, credit counseling or even filing for bankruptcy can throw you a lifeline. Here are some strategies for ending your post-divorce credit woes. A long marriage usually creates a firm financial stronghold and system for a couple. When the couple gets divorced, the system suddenly gets shattered: assets and debts must be...

Debt and Divorce

If you’re getting a divorce, how will you and your spouse divide your debts? And what happens if your soon-to-be ex can’t pay his or her share? The liabilities and debts you and your spouse accumulated during the marriage should all be assigned, paid, or handled in some manner as part of your divorce settlement. The debts should include all credit...