How to Get Financially Prepared for Divorce
One of the best ways to set yourself up for a relatively smooth divorce process is to be proactive about handling financial issues. In the divorce process you will have to make a lot of financial disclosures, and will need to have a strong understanding of your current financial situation. The more organized you can… Read More »
Common Asset Concealment Strategies to Watch For
An unfortunately common issue that can arise during the divorce process is one spouse attempting to conceal assets from the other in an attempt to come away with a more favorable financial situation. This is illegal—both spouses are required to fully disclose their finances and assets to allow for a more equitable asset distribution process…. Read More »
How to Calculate Child Support if the Paying Spouse is in the Military
There are always some extra complications in the divorce process when one or both spouses actively serves in the military. Among the various elements of the divorce that could be affected is the child support arrangement you develop. To start with, you can use the child support guidelines for your state. However, if you and… Read More »
Uncontested Divorce Has Advantages and Disadvantages
Although there is never anything “simple” about divorce, an uncontested divorce can simplify some of its processes — at least to some extent. Of course, uncontested divorce is also not right for every couple and situation. With this in mind, below are some of the advantages and disadvantages associated with uncontested divorce to help you… Read More »
What Should You Do After Receiving Divorce Papers?
If you’ve recently been served with divorce papers, you might be wondering what comes next. Below are the steps you should take immediately after receiving divorce papers: Read the documents carefully: You should read the divorce papers very thoroughly, as they will contain a lot of crucial information, including the court in which the action… Read More »
What to Know About Financial Disclosures During a Divorce
During a divorce, each spouse must disclosure certain financial information to ensure each party has full knowledge of the other’s finances. Examples include bank statements, mortgage statements, tax returns, pay stubs and statements for brokerage and investment accounts. In addition, each party must provide a Statement of Net Worth which is a document, signed before… Read More »
How You Can Start Saving Money Again After a Divorce
Divorce can be just as challenging financially as it is emotionally. The costs to consider include legal bills and prices of additional residences. However, just because the divorce process is costly does not mean you won’t be able to recover. In fact, it is possible to begin saving immediately after a divorce and continue working… Read More »
Key Tips for Protecting Your Retirement Accounts During a Divorce
If you’ve working on a nest egg for your retirement for many years, there are steps you should take to help protect your assets if you get divorced. Any retirement assets could be subject to the property division process which is known as equitable distribution in New York. If you are the party who maintains… Read More »
A General Timeline of the Divorce Process
Going through a divorce can be an understandably overwhelming process. Not only do you have to deal with all the emotional elements of ending your marriage, but you likely are also unfamiliar with the divorce court system and the various procedures involved. To help make this a little easier, the following is a general timeline… Read More »