Downs Law Firm, P.C.
A critical fact that women who are divorced must do: whatever assets they get in the divorce settlement, commit to keeping those assets intact for retirement. It’s easier to do this with a house.
Divorce significantly impacts estate planning, requiring updates to wills, trusts and beneficiary designations to ensure that assets are distributed according to new intentions.
Estate planning and divorce are intricate processes, each filled with legal nuances and detailed accounting (to say nothing of the emotions involved).
If a child you’ve added to your deed goes through a divorce, has tax issues, is sued by someone, or must declare bankruptcy, your house could be on the chopping block!
“Gray divorce” — the unfortunately named term for divorce after age 50 — is increasing among baby boomers.
At such an emotional time, more paperwork is probably the last thing you want on your to-do list. However, taking a few key steps is critical to your financial future.
After the divorce, Mike logged onto the employer’s benefits system and tried, but failed, to delete Wendy as the beneficiary of his life insurance.
An issue that frequently arises is the treatment of an inheritance received by a spouse during the marriage. The basic rule is that any property received via gift or inheritance during the marriage is exempt from equitable distribution.
What is the difference between a prenup and a postnup? Do you need one? And if so, which is the right fit for your marriage?
Be frank about finances before you head to the altar. It’s a key piece of advice for all marriages. However, it takes on a whole new weight when people say “I do” for the second, or third, or fourth time.
