Being in the tax season moment, my next few blogs will address some common tax issues and implications resulting from divorce. The first issue/implication I will write about are name changes. It is quite common for a spouse going through divorce to request a name change as part of the divorce process. Requesting a name…
The child tax credit may save you money if you have a qualified child. Here are the top five things to know about this credit as it relates to divorce: Depending upon your tax filing status and your income you may be eligible for a child tax credit of up to $1000 for each qualifying…
After choosing your process wisely, discussed in my two previous blogs part 1 and part II, the next step is to choose your attorney wisely. I believe this is something to approach with significant thought about your goals, careful consideration about the process you want to follow and your own beliefs and values. How do…
5 quick Divorce financial tips: These five are only a starting point. Plan your cash flow and spending carefully. Do not over exaggerate. You and your spouse only have so much income between the two of you. Unless you can increase income you both will need to decrease some areas of spending simply because you…
Often when we decide to do something of significance, like go on vacation, obtain a college degree, search for a new job, or save for a future purchase we develop a plan. If you are serious about the task set before you, you will develop a written plan to keep you on track and measure…
In part I of keep more of your money in your family; choosing your process wisely I wrote about the well known traditional litigated court based divorce process and mediation. In this issue, I will cover Collaborative Divorce. Collaborative divorce is an option you and your spouse should thoroughly explore before making any choice about…