How Do Social Security Survivor Benefits Work?
Social Security payments can sometimes be a significant portion of a couple’s retirement income. If your spouse passes away unexpectedly, it can have a dramatic impact on your financial wellbeing in retirement. This is especially
After A Divorce, Who Gets To File As Head of Household For Their Taxes?
There are often issues with money and taxes when a couple separates, or even when an ex-divorcee gets married again but this is one of most common tax questions that we receive when a married couple with children are in the process of getting divorced.
Divorce: The Difference Between Mediation, Collaborative, and Litigation
While making the decision to get a divorce can be difficult, it's equally important to decide which path for the divorce process is the right one for you and your current spouse. There are three options:
Tax Reform Could Lead To A Spike In The Divorce Rate In 2018
The Tax Cut & Jobs Act that was recently passed has already caused taxpayers to accelerate certain financial decisions as we transition from the current tax laws to the new tax laws over the course of the next two years.
The Procedures For Splitting Retirement Accounts In A Divorce
If you are going through a divorce and you or your spouse have retirement accounts, the processes for splitting the retirement accounts will vary depending on what type of retirement accounts are involved.
Divorce: Make Sure You Address The College Savings Accounts
The most common types of college savings accounts are 529 accounts, UGMA, and UTMA accounts. When getting divorce it’s very important to understand who the actual owner is of these accounts and who has legal rights to access the money in those accounts. Not addressing these accounts in the divorce agreement can lead to dire consequences
How Is Child Support & Alimony Calculated In New York?
For purposes of child support, either parent can be named the custodial parent by a Court. For the purposes of this article we will assume that the mother is the custodial parent and will be receiving the child support and alimony payments. However, fathers who have custody can also use this as a guide.
How To Prepare Financially For A Divorce
Divorce can stain finances as well as emotions. Both parties are trying to determine financially what life is going to look like after the divorce is finalized. It is also more common than not that in a marriage one of the spouses assumes the role of paying the bills and managing the family's finances. In this arrangement the "non-financial spouse" is now
