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Another common mistake – and one of the most difficult to avoid – that derails the divorce process and adds cost is the urge to use the divorce process to make the spouse miserable. Fortunately or unfortunately (depending on what side you are on!), the divorce process is not setup to assign blame [...] One mistake many divorcing people make is to give the ex-spouse more than their share of the assets in an effort to make the divorce go smoother, more amiably, quicker, or all of the above. This is something that can cause you great regret later. It may seem like anything would be better [...] Just like a new couple should not expect to change each other, you should not attribute new behaviors to your ex-spouse. If she didn’t actively parent in the past, she probably won’t start now. If he refused to let your son have friends over in the past, he could continue that behavior.
When it comes to children’s placement, the schedule is so crucial to their future well-being. This is especially true with young children. It should not be purely about equality and fairness to the ex-spouse. The children are not a commodity to be split like your financial assets. Consider that a “fair,” equal [...] The second trap that many people fall into is rushing the divorce process. It’s common to wish to move through the divorce as quickly as possible. Unfortunately this can lead people to rationalize making decisions that aren’t optimal or giving in to the wishes of the spouse. It’s good to compromise, but there’s [...] In the next few posts we will address some common emotional issues that get in the way of acting rationally during a divorce. One misconception people going through a divorce often have is that the terms of the divorce can be changed later if things don’t work out for the best. This is [...] Your and your spouse’s income and asset information are needed when structuring the key divorce settlement issues: property split and any alimony or child support calculations. If you suspect that your spouse is hiding income or assets, or if you think he/she has the potential to do so, you will gain some protection by [...] Over the years, we have seen cases in which separation or divorce instruments violate the requirements for structuring alimony payments correctly. These situations often produce a negative financial impact for the individual that is paying the alimony and can lead to additional lawsuits and ill feelings. In order to avoid this potential mess, [...] In this article, we address divorce and transfer of Individual Retirement Account (IRA) Assets. We focus on the Traditional IRA because the rules for transfers are more restrictive than for a Roth IRA. (If you follow the rules for transferring ownership interests in Traditional IRA assets for Roth IRA assets, you should qualify for the [...] There are several issues to consider when contemplating a bankruptcy filing as part of a divorce. Certain debts are dischargeable and others are not. The following divorce related debts are not dischargeable in a bankruptcy filing: Taxes (federal, state, real estate, etc) Debts arising from a marital settlement [...] |
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