Credit After Divorce

One of the biggest financial concerns for many people going through a divorce or separation is the way it will affect their credit. Your financial situation is an extremely important consideration throughout all divorce processes. The good news is that there are ways to limit the amount of damage a divorce will have on your credit score. Whatever debt you and...

Financial Planning Right After Your Divorce

A top priority after divorce is a stable financial plan.  The separation should urge couples to do some “financial housekeeping” to protect all personal finances.  There are crucial measurements that need to be met in order to disassociate from a previous marriage. Identification (e.g., social security card, driver’s license, passports) and personal...

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...

What You Should Know About QDROs

A Qualified Domestic Relations Order (QDRO) is a legal document that directs the administrator of a pension plan to give a certain amount of an employee’s pension to his/her non-employee ex-spouse after the divorce is final. Here are the top four mistakes people make when it comes to QDROs. Consider this scenario: husband and wife happily sign the divorce...

Estate Planning Will Never Die

Even if the government allows us to exclude over 10 million dollars of our estate for tax purposes, estate planning is still important to a lot of people. Although, one day there may be no taxes due when we die, we still have the legal system to contend with.  Any person who dies who has assets over $100,000, this includes cash, personal property and real...