Tag Archive for: divorce finances

Study: Divorce Rates Now Doubled For Older Couples

A few months back, our own Bari Weinberger appeared on CBS-2 to discuss the growing trend of “gray divorce” among the Baby Boom generation. Now, thanks to a new study from researchers at Bowling Green State University in Ohio, we now have hard statistics to back up just how many adults over 50 divorced in recent years. In short, it’s probably a lot more than anyone could have guessed. Read more

Collecting on Your Former Spouse’s Social Security

Nearing retirement age? If you were married for at least 10 years before getting a divorce, you may be entitled to a portion of your former spouse’s social security benefits. Read more

How Will New Tax Rules Affect Your Divorce?

To prevent the U.S. economy from toppling over a “fiscal cliff” that would likely result in surging tax rates and significantly curtailed government spending, Congress approved the American Taxpayer Relief Act on January 1, 2013, following intense debate. President Obama signed ATRA into law on January 2, 2013.

What does ATRA mean for your taxes — especially since you are going through divorce? Read more

What Happens to Your Inheritance in a Divorce?

Anthony’s mother passed away in 2005, and his father in 2007. As an only child, Anthony’s parents willed their estate to him upon their deaths. Though he had known this day would eventually come, when Anthony received his parents’ house (and its contents) and their remaining cash savings, he wasn’t quite sure what to do with them. Read more

Finding Your Spouse’s Hidden Income

While the law requires both parties in a divorce to disclose all assets and sources of income (declared in the New Jersey Case Information Statement), unfortunately, not all spouses are completely forthcoming regarding financial matters. Suspicious that your spouse is hiding assets or extra income? Conducting a lifestyle analysis or requesting a formal accounting of financial records may be necessary in some cases to get a clear picture of personal and joint finances. But for many couples, a spouse’s hidden assets may actually be hiding in plain sight. Read more

The Gifts of Divorce – Holiday Shopping Ideas, Too!

It’s the thick of the holiday shopping season, a time when most of us are hitting up sale after sale in order to cross a few more names off this year’s gift buying list. However, when it comes to buying a gift for a friend or loved one going through the heartache of divorce, finding the perfect present may be a bit more difficult than picking out a new sweater or buying the latest tech gadget. Read more

Repairing Your Credit After Divorce

Mark went through what he calls a very “modern day divorce” last year when he and his ex-wife ended up dividing more marital debts than marital assets in their divorce settlement. The couple closed two joint credit cards, both with high outstanding balances and a record of missed payments. They also sold their home in a short sale, meaning they were able to get out of their underwater mortgage, but because the house sold for less than what they owed, there was no money from the sale to go towards paying down debts. Read more

8 Financial Clues Your Spouse Wants a Divorce

Your instincts may be tell you that something strange is brewing in your marriage, or perhaps the tensions between the two of you are becoming palpable. But how do you really know if your spouse is considering splitting up and filing for divorce? The answer may be as simple as following the money trail. Read more

Foul Ball! A Case Study on Understated Assets During Divorce: McCourt vs. McCourt

Not too long ago, we blogged about a very practical topic: “Getting Top Dollar for Household Items Sold During Divorce.” We covered things like how to post used books for sale on Amazon and how to work with an estate auctioneer to sell off furniture, artwork, antiques, collectables, and other items whose proceeds are typically split by a divorcing couple. One item we didn’t think to address? How to get top dollar for your…baseball team. Yet, this is exactly what Frank McCourt, former owner of the Los Angeles Dodgers, and his ex-wife Jamie McCourt are now wrangling over — two years after their divorce. Read more

Getting Top Dollar for Household Items Sold During Divorce

As part of your divorce settlement, the decision was made to liquidate certain household assets and split the proceeds. So where do you go to get top dollar for things like paintings and art work, antiques, and other jointly owned valuables and collectibles? If you have items to unload, here are some people and places that can help maximize your money: Read more