It is important that you maintain life insurance with the children named as beneficiaries and the alternate spouse as trustee (via UTMA or otherwise) so that in the event that one spouse dies during the child support term, that the support intended for the children remains in place. The reason for naming the alternate spouse… [Read More]
During the divorce mediation process, we explore finances to ensure that you are able to afford the decisions you are currently making. A financial planner can help you extrapolate that information so that you are prepared for your future and your family’s future. Ask your friends for recommendations and work with someone who aligns with… [Read More]
If one person is taking sole responsibility for the joint mortgage or any other joint debt as part of the overall agreement of the divorcing couple, it is important for the alternate spouse to have access to the account and ongoing statements during the period of joint ownership. It is important to understand the risk… [Read More]
An important change is coming in divorce law as a result of the new tax act. Alimony payments have been deductible to the payor and taxable to the payee for the past 75 years. As a result of the new tax act, alimony will no longer be deductible by the payor or taxable to the… [Read More]
Courts are supporting shared parenting arrangements with both parents significantly involved more and more. As you can see from the article, “After divorce, shared parenting is best for children’s health and development,” the psychological research shows that significant time with both parents profoundly helps your children.