out stress and anxiety in children, whether small or big (adult). We tackled holiday survival post-divorce topics like “finding your new normal” and “creating emotional balance” here and here, now we will discuss guiding your children through the holidays. This is especially important if it is your first round of holidays since your separation or divorce.
One of the most important aspects to remember is to be transparent about how the holidays will go. Set up a detailed schedule in your parenting plan early on with your ex. Having a plan in place and communicating those plans with your child(ren) will help ease some of their stress, even if it’s as simple as knowing that yes, both mom and dad will be at their holiday concert at school, or that mom will take the kids to see Santa. Whether your child is 2 or 20 it is important to maintain a holiday schedule and stick to it. Unfortunately it does require both parents to be willing to negotiate, and ultimately give up time, but developing a fair plan with your child’s best interest in mind will be better in the long run.
Talk to your children about your traditions. Discuss with them what will remain the same, what traditions they will continue to celebrate and at who’s home, etc. Don’t be afraid to create new traditions. Many families will try to keep things as normal as possible, but that doesn’t mean that this isn’t a good time to start something new. Again, this holds true of children at any age, and talking about it early in the season will help them to know what to expect throughout the holiday season.
Communication is key, even if it’s something that as an adult you wouldn’t think twice about, often times children do not have any idea what to expect for their first holidays post-divorce. For example, a young child has no concept of Santa knowing that they moved, or if Santa still comes if they are at dad’s house on Christmas and not at mom’s. Talk them through these scenarios.
Establish realistic holiday expectations with your ex early on. How will you navigate gift giving with finances split? Especially on those big ticket items. Do gifts and toys get to travel from one house to the other? Etc. How will you avoid what becomes a “bidding war” of presents to “buy/show” your love? – This unfortunately happens often, and ultimately the child is negatively affected when years of this behavior occurs.
The holidays are overwhelming for all of us – young and old, so don’t be afraid to ditch the lines at the mall, or the umpteenth extended family gathering, and trade for a quiet night at home with just you and the kids.
Navigating the holidays post-divorce is a difficult enough task for adults, but it also brings
out stress and anxiety in children, whether small or big (adult). We tackled holiday survival post-divorce topics like “finding your new normal” and “creating emotional balance” here and here, now we will discuss guiding your children through the holidays. This is especially important if it is your first round of holidays since your separation or divorce.
One of the most important aspects to remember is to be transparent about how the holidays will go. Set up a detailed schedule in your parenting plan early on with your ex. Having a plan in place and communicating those plans with your child(ren) will help ease some of their stress, even if it’s as simple as knowing that yes, both mom and dad will be at their holiday concert at school, or that mom will take the kids to see Santa. Whether your child is 2 or 20 it is important to maintain a holiday schedule and stick to it. Unfortunately it does require both parents to be willing to negotiate, and ultimately give up time, but developing a fair plan with your child’s best interest in mind will be better in the long run.
Talk to your children about your traditions. Discuss with them what will remain the same, what traditions they will continue to celebrate and at who’s home, etc. Don’t be afraid to create new traditions. Many families will try to keep things as normal as possible, but that doesn’t mean that this isn’t a good time to start something new. Again, this holds true of children at any age, and talking about it early in the season will help them to know what to expect throughout the holiday season.
Communication is key, even if it’s something that as an adult you wouldn’t think twice about, often times children do not have any idea what to expect for their first holidays post-divorce. For example, a young child has no concept of Santa knowing that they moved, or if Santa still comes if they are at dad’s house on Christmas and not at mom’s. Talk them through these scenarios.
Establish realistic holiday expectations with your ex early on. How will you navigate gift giving with finances split? Especially on those big ticket items. Do gifts and toys get to travel from one house to the other? Etc. How will you avoid what becomes a “bidding war” of presents to “buy/show” your love? – This unfortunately happens often, and ultimately the child is negatively affected when years of this behavior occurs.
The holidays are overwhelming for all of us – young and old, so don’t be afraid to ditch the lines at the mall, or the umpteenth extended family gathering, and trade for a quiet night at home with just you and the kids.
out stress and anxiety in children, whether small or big (adult). We tackled holiday survival post-divorce topics like “finding your new normal” and “creating emotional balance” here and here, now we will discuss guiding your children through the holidays. This is especially important if it is your first round of holidays since your separation or divorce.
One of the most important aspects to remember is to be transparent about how the holidays will go. Set up a detailed schedule in your parenting plan early on with your ex. Having a plan in place and communicating those plans with your child(ren) will help ease some of their stress, even if it’s as simple as knowing that yes, both mom and dad will be at their holiday concert at school, or that mom will take the kids to see Santa. Whether your child is 2 or 20 it is important to maintain a holiday schedule and stick to it. Unfortunately it does require both parents to be willing to negotiate, and ultimately give up time, but developing a fair plan with your child’s best interest in mind will be better in the long run.
Talk to your children about your traditions. Discuss with them what will remain the same, what traditions they will continue to celebrate and at who’s home, etc. Don’t be afraid to create new traditions. Many families will try to keep things as normal as possible, but that doesn’t mean that this isn’t a good time to start something new. Again, this holds true of children at any age, and talking about it early in the season will help them to know what to expect throughout the holiday season.
Communication is key, even if it’s something that as an adult you wouldn’t think twice about, often times children do not have any idea what to expect for their first holidays post-divorce. For example, a young child has no concept of Santa knowing that they moved, or if Santa still comes if they are at dad’s house on Christmas and not at mom’s. Talk them through these scenarios.
Establish realistic holiday expectations with your ex early on. How will you navigate gift giving with finances split? Especially on those big ticket items. Do gifts and toys get to travel from one house to the other? Etc. How will you avoid what becomes a “bidding war” of presents to “buy/show” your love? – This unfortunately happens often, and ultimately the child is negatively affected when years of this behavior occurs.
The holidays are overwhelming for all of us – young and old, so don’t be afraid to ditch the lines at the mall, or the umpteenth extended family gathering, and trade for a quiet night at home with just you and the kids. 
When divorcing, whether one spouse stays in the family home is often a pivotal decision. For most, there are several considerations that go into deciding whether to sell or stay. The tax impact of selling the marital home is unlikely to be at the top of that list, but with home values on the rise, it is worth understanding.
The current tax rules are quite favorable to people realizing a gain on the sale of their home. The IRS allows each taxpayer to avoid paying capital gains tax on the first $250,000 of capital gain on the sale of one’s residence. That means that a taxpayer filing “single” could exempt the first $250,000. A couple filing “married filing jointly” can avoid paying taxes on $500,000 in gains. The capital gains tax on a $250,000 gain can range from $0 to about $75,000 so it is worth it for divorcing couple to make sure they cover this in their divorce arrangements.
To qualify for the exemption, the IRS requires that the home meet the principal residence test, which is based on ownership, use and timing. For ownership, you need to have lived in the home for at least 2 years, (24 full months) in the 5 years before the sale. These 24 months do not need to be continuous. The use criteria require that the home be your principal residence for those 24 months. This can be an issue if one spouse was employed in another city, where they kept a second residence. One spouse meets the use test, but the other does not. Finally, the timing criteria requires that you have not excluded the gain on the sale of another home in the past 2 years.
Tax law gives divorcing couples some leeway in these criteria. Transfer of home ownership between divorcing spouses is not considered to be a taxable event by the IRS. If ownership is not transferred during the divorce, detailing the home ownership arrangement in the divorce decree is key to minimizing taxes when selling the home later. An ex-spouse that continues to be an owner of the home but does not live there, can still use the exclusion if there is written documentation in the decree that lays out this arrangement.
Dealing with home decisions during the divorce can be a complex. Be sure that in your home decision analysis, you are clear on your tax implications! And keep in mind that cabins, vacation homes and investment real estate generally will not meet the principal residence test, so they may have tax consequences when sold.
For a comprehensive review of your personal situation, always consult with a tax or legal advisor. Neither Cetera Advisor Networks LLC nor any of its representatives may give legal or tax advice.