There is no way to sugar-coat this: Spousal maintenance is a ticking clock. Once you’re divorced, there is a carved-in-stone date at which it will end. That flow of funds will stop. The spigot will close.
With a headline like “Don’t die on the hill of child support,” you’d think I was a callous individual, a Scrooge-like child-hater.
Know what a 529 Plan is? If you do, read on. If you don’t, read on. Quickly, a 529 Plan account is one that you create for your kids, to help them pay for college when they’re older.
If you take away nothing else from this article, know this: It doesn’t matter whose name is on that bank account or 401(k) account or whatever. When it comes to divorce, unless there was a prior agreement to the contrary, half of that money will be yours.
There are lots of affluent business-owning men out there, who end up divorcing their wives. In many instances, the wife has spent many years helping to build that business. As a CPA, a CERTIFIED FINANCIAL PLANNER® professional, and a Certified Divorce Financial Analyst® professional who provides divorce financial counseling for affluent women, let me try and unpack some of the implications, for you, here.
What’s the difference between “equity” and “groceries”? Picture this: You walk into the supermarket. You load up your cart. You proceed to the checkout line. When you get to the cashier and are told the total amount, you whip out your… latest mortgage statement and point to the “projected value” of your house??
“My husband and I co-own different real estate properties. Now that we’re divorcing, what should I do?” Among the affluent divorcing women I count as clients, the issue of multiple real-estate holdings is fairly common.
Taxes provoke a visceral reaction from many divorcing women. They’re often terrified of getting blindsided by a tax bill or letter from the IRS.
