Divorce Financial Considerations

Financial Divorce Tips for Women

Dishon & Block: Divorce Tips
Women undergoing a divorce are under tremendous stress dealing with emotional, legal and financial demands not to mention the challenges of a career and children. With all these pressures, many women make bad financial decisions such as not obtaining an excellent lawyer or too quickly accepting the first settlement proposal.

Remember, whatever financial consideration decisions you make will possibly last a lifetime so it’s best to take your time and get the best advice possible from reputable divorce professionals.

Tax Tips for Divorcing Couples

Divorce and Taxes
Confused about income tax filing and your divorce? Tax season can be quite daunting for couples in the midst of a divorce or for anyone who is considering divorce.

Although it is best to discuss these matters with a divorce lawyer and perhaps even a tax accountant, here are some tips to help maneuver the murky waters of taxes and divorce:

Money Wake-Up Call

Divorce and Finances
Keeping your eyes on money matters during a marital breakup is important, yet often the last thing couples want to face. Divorce can play havoc with both of your finances. They say that breaking up is hard to do — but figuring out the dollars and sense of your situation during and after a divorce can be even harder.

While Money Doesn’t Cause Divorce, It Must Be Protected

For decades, it’s been thought that financial stress is among the main causes of divorce. Sure spouses fight over money. One spends too much while the other doesn’t earn enough. But is financial difficulty a major culprit in the filing of divorce? Recent university research says, no.

Jan Anderson, an associate professor at California State University, wrote his doctoral dissertation on the subject. Like many Americans, Anderson’s parents divorced when he was a child. And like many, he believed in the notion that money problems are among the leading causes of divorce. As an adult he even taught courses in personal finance to help people develop better money skills to save their marriages.

Planning Finances After Divorce Doesn’t Have to be Painful

There’s no doubt that a California divorce is emotionally painful for both parties involved. But the financial and lifestyle pains can be equally as tough when the divorce is made official. Whether you are receiving or paying child support or alimony, you’re going to have to make some changes to your spending and money management habits.

Divorce and Taxes

Divorce is never easy for you and your children, and doing your taxes with both in mind for the first time just adds to the stress. There are a few factors that set the course for your first tax filing after the California divorce process is completed.

Your eligibility for declaring as a head of household depends on three primary California divorce pre-requisites: if your divorce occurred on or before the last day of the year, you paid at least 50% of the home upkeep over the past year, and a “qualifying person” has lived with you for at least half the year (other than a son/daughter away at college or another “temporary absence”).

« Older Entries