Visit Our Download Center for
eBooks, Manuals & Forms.
eBooks, Manuals & Forms.
Home
States
New Jersey Divorce Source
New Jersey Divorce Articles, News and Resources
Financial Planning
|
New Jersey Info
New Jersey Divorce
Start Your Divorce
Find Professionals
New Jersey Articles
Divorce Facts
Divorce Grounds
Residency
Divorce Laws
Property Division
Alimony
Child Custody
Child Support
Divorce Forms
Grandparent Rights
New Jersey Articles
Agreements
Attorney Relationship
Custody & Visitation
Child Support
Collaborative Law
Counseling
Divorce/General
Domestic Abuse
Domestic Partnership
Financial Planning
Foreign Divorce
Mediation
Parenting
Property Division
Spousal Support
Info Categories
Contemplating Divorce
Children & Divorce
Divorce, Dollars & Debt
Divorce Laws
Divorce Process
Divorce Negotiation
More Information
Articles Checklists Research Center Cases of Interest Dictionary Encyclopedia Encyclopedia (pop-up) Blogs
For Professionals
Advertise With Us Free Network Page Join Our Network Submit Articles Sign In Network Sites
|
Financial Planning
Most divorcing people actually agree on most issues, but it is best to use some professional help to develop your divorce agreement. A professional divorce mediator can ensure that you are covering the many issues in an efficient and cost-effective manner.
As I write this article most of us are in the process of preparing to file our tax returns. It is also Women’s History Month. As many of you know, I am a big advocate for financial education, particularly for young women.
Welcome to the latest edition of Fiscal
Fitness! It’s tax time as I write this. As
usual, this is the time of year I come
across many "avoidable" financial planning mistakes.
If you bought your house in 2006, 2007 or even 2008, you may not have a choice in this matter as the value of your home may be worth less than you paid for it and that’s another article for another day. But if you bought your house prior to the bubble, and there is some equity in it, first of all, congratulations and second of all, what do you do with it?
Ah April 15th. Tax Day here in the United States. This year we actually get a break as the 15th turns out to be a Sunday but alas, the tax man cometh and there’s not much we can do. But what about taxes and divorce?
Welcome to the latest edition of
Fiscal Fitness! As we head into 2012, I
reflect on the things that took place in
2011 and think, would things have been different had
we done better planning?
Are you on the
verge of retirement or about to
make a major life change that will affect your
financial future? To my surprise, most people
wait until a major life event to occur before
meeting with a professional to address their
estate or retirement planning needs.
Whether you are about to retire, receive a large inheritance or waiting for the ink to dry on a divorce settlement, all the planning you have done over the years is about to change.
One of the four topics we cover in mediation is that of equitable distribution or as its formally known: the equitable distribution of marital assets and liabilities. And while most of the clients enjoy the division of assets, when it comes to diving the debts, thats an entirely different story.
A 529 plan is simply a tax deferred college savings plan. The number 529 refers to the section of the IRS code that has established college savings plans. A 529 plan is a tax-free account that can be established up for the benefit of a child. When the time comes for the child to start attending college, then the money from the plan can be withdrawn.
Mental health professionals I have spoken to say that divorcing a spouse can sometimes be more emotional than losing a spouse to death. Emotions often cloud your decision making which can lead to poor choices when it comes to finances. Making changes to a property settlement agreement is almost impossible. There must be hard proof based on fraud, deceit or a major mistake. In other words, get it right the first time.
Divorce is not easy. Just ask anyone who has been through it. Besides the emotional aspect, the financial impact can be devastating for both sides. How can you financially survive? Having a good understanding of your assets and educating yourself before agreeing to any type of settlement will pay off down the road.
The credit card companies are not interested in how assets, homes, and the bills are divided during a divorce case. Credit card companies have only one objective and that is to be paid! If you have debt in joint credit card debt with your spouse, then you are both legally responsible for paying it back.
If you are considering filing for divorce, then you better be fully knowledgeable of your family’s financial picture. In these very hard economic times, when all of Americas jobs have been shipped to China, it is critically important not to start a divorce with your head in the sand! In short, you cant file your divorce if you are an airhead about your family’s finances!
What’s so important about a number? We’re surrounded by irrelevant numbers every day, but your number is different. Your number is important; it’s the amount of money you’ll need to maintain your lifestyle once you’re divorced.
Divorce Planning is when a spouse plans for divorce months and in some cases years in advance. This spouse will usually talk to a lawyer and get instructions on how to minimize earnings for a significant period of time prior to filing for divorce to avoid or at least reduce child support and alimony obligations.
I am in the midst of a nasty divorce with my husband. My husband is a self-employed builder and I am very hesitant in filing another joint tax return with him this tax year. However, he is insisting that I do so because he will save $10,000 on his taxes. Am I legally obligated to file a joint tax return with my husband now that we are legally separated?
There are two types of credit accounts: individual and joint. You can permit authorized persons to use the account with either. When you apply for credit—whether a charge card or a mortgage loan—you’ll be asked to select one type.
One inexpensive task I recommend that all divorcing couples do early in the divorce process is to check their credit reports to ensure that there are no surprise debts or credit lines.
On August 5, 1997, President Clinton signed the Taxpayer Relief Act of 1997 into law. We suggest that you don’t make any major financial decisions before reading this article and following-up on the particular areas that might impact you. The scope of the legislation encompasses measures ranging from a child care tax credit for low and moderate-income families to new tobacco taxes.
Don’t despair! There have been a number of changes that you should know about because they could result in more dollars in your pockets, or a smaller check to Uncle Sam on April 15, 2000.
Navigate:
Home
States
New Jersey Divorce Source
New Jersey Divorce Articles, News and Resources
Financial Planning
In New Jersey, a separation agreement is any legal document signed by both spouses outlining the terms of the separation. Subjects resolved in a separation agreement can include child support, child custody, debt allocation and asset distribution. Notarizing the document ensures its validity, since there is no such case-type in New Jersey that provides for a "legal separation." Spouses wanting child support during the separation period, however, must file a claim with the New Jersey probation department.
|
FEATURED TOOL - Name Change Notification Kit (easily complete your name change without the headaches)
|
Your Right to Child Custody, Visitation & Support Cover Price: $ Your Price: $17.95 You Save: $7.00 "A Plain English Guide to Protecting Your Children" Author: Mary L. Boland, Attorney at Law
|
| The information contained on this page is not to be considered legal advice. This website is not a substitute for a lawyer and a lawyer should always be consulted in regards to any legal matters. Divorce Source, Inc. is also not a referral service and does not endorse or recommend any third party individuals, companies, and/or services. Divorce Source, Inc. has made no judgment as to the qualifications, expertise or credentials of any participating professionals. Read our Terms & Conditions. |
"a passion for a better divorce℠" - established in 1996
© 1996 - 2013 Divorce Source, Inc. All Rights Reserved.