Collaborative Law Institute Blog – Family Law Attorneys & Professionals
Avoid Tax Surprises – Adjust your W-4!
It’s important for divorcees to review and adjust their W-4 payroll withholding or start to make quarterly tax estimates following their divorce. Often, they are so relieved to have reached settlement, they fail to think about these housekeeping items. If divorced in...
Notable 2019 Contribution Limits
As we move into 2019, it’s helpful to know contribution limits and Social Security changes. Individual Retirement Accounts: The annual contribution limits for traditional and Roth IRA’s have increased to $6,000, a boost of $500 over 2018 contribution limits. The...
Wouldn’t You Rather Divorce in a Conference Room Than a Courtroom
Wouldn’t it be great if families could complete their divorce in a conference room rather than a courtroom? That’s the thinking behind the Collaborative Process and what makes the Collaborative Law Institute of Minnesota so helpful to divorce professionals...
Tax Planning – Bonuses Gone Bad!
It is important to review and discuss tax planning for the year in which a divorce was completed, especially for high earning individuals who receive incentive compensation and plan to be divorced by December 31, 2018. As part of the 2017 Tax Cuts and Jobs Act, many...
3 Life Insights from the Jeff and MacKenzie Bezos Divorce
One of the reasons that divorce is such a challenging life transition is its public nature. A couple might keep their problems private as they try to work through them. But if a rift opens that can’t be mended, the couple will have to share some very difficult news...
Splitting Investment Income on Tax Returns
When a joint investment account is divided, the financial institute will use only one Social Security number to report the earnings and thus only one 1099 will be issued for that account. For example, following their divorce, Dick and Jane divided their joint...
Holiday Presence
Who would ever ask for a two month supply of elevated cortisol and high anxiety in their Christmas stocking! Yet for many, the holiday season adds to rather than relieves stress as parents feel obliged to layer Hallmark fantasies about “the most wonderful time...
Health Insurance Season
It’s that time of year again, when the trees become bare and days grow short, that one’s thoughts turn to health insurance. That’s right, the open enrollment window for renewing your existing health insurance plan or shopping for a new plan opens November 1st and runs...
Reduced Fee Divorce – For Couples Who Want a Respectful, Collaborative Divorce
If you want a respectful, affordable and uncontested divorce without breaking the bank, you’ll want to consider a Collaborative Divorce. Do you have a reasonable level of trust and ability to work together with your spous if you have the help of professionals?...
How Can a Mortgage Professional Help With Divorce?
It goes without saying, but I’ll say it anyway…divorces are complicated! There are many questions that an experienced mortgage professional can help answer before you finalize your divorce. For example: Can one of us afford the family home or do we need to sell it?...
