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If one or both spouses, going through a divorce, have ongoing, profitable business operations, in general, efforts should be made to preserve those business operations. If at all possible, in terms of division of marital assets, instead of selling economically viable operating concerns, there could be staggered buyouts or loans as opposed to selling any profitable business.
The laws of intestacy, or inheritance, provide for spousal rights in various states. If divorcing parties have wills or other estate planning documents in place, same may also provide for testamentary disposition, including for the spouse they are divorcing.
Stock options, or the granting of stock options, can be a valuable asset within the marital estate. Although common stock is an asset, the granting of stock options, including relating to common stock, can be taxed as income.
The tax system is a matter of self-assessment. That means that each individual, required to file an income tax return, barring any disability, is in a position to self-assess themselves and file their own individual income tax returns.
There’s really no way to get around it – if you’re planning for a divorce, you’re going to incur expenses. And not just those associated with the actual divorce. There are also a number of things that will change as you transition from your married life to being single, and these changes often bring unexpected costs.
5 Things That Could Raise the Cost of Your Divorce by Joseph Dillon, Divorce Mediator
There’s really no way around it – divorce costs money. Just how much money can hinge on a number of factors, including the method you choose, how cooperative you are with your soon-to-be ex, and how much is involved. The good news is there are things you can do to help lower the cost and save yourself a few hard earned dollars.
4 Financial Mistakes to Avoid During Divorce by Joseph Dillon, Divorce Mediator
When the word divorce is brought up, most people instantly think about the emotional aspect. How will it affect the children? How will I get over this and move on? Divorce is certainly one of the most emotional experiences in life, but it can also be one of the most financially devastating.
Should You Keep or Sell the House in Divorce? by Joseph Dillon, Divorce Mediator
While never an easy decision, should you keep or sell the house in divorce depends on a variety of factors in three distinct areas. Given that your house is one of the biggest assets you’ve got, the housing market has been a roller-coaster ride lately and it’s the place you called home and built a family in, it’s no wonder this isn’t an easy decision!
If you’re like most people, you probably think divorce is a legal matter. After all, the dissolution of your marriage has to come in a court of law, right?
Hiding Money in Divorce is Never a Good Idea by Joseph Dillon, Divorce Mediator
As an only child, the concept of sharing doesn’t exactly come natural to me. So while I can understand not wanting to share what you perceive as being your “hard earned money” is a tough pill to swallow, I have to admit the idea of hiding money in a divorce is not only a bad one, but an expensive one as well and is best to be avoided.
Without question, money and divorce are two things that are inevitably intertwined. Whether you like it or not, divorce is going to cost you. Just how much it costs you, however, can vary greatly. There are certain mistakes that might end up resulting in much more of a financial impact than necessary, so it’s important that you plan ahead as much as possible.
Estate Planning & Divorce by Brian James, C.E.L. and Associates
If you have a will or similar estate planning document, such as a living trust, your spouse will typically be designated as the executor and/or trustee, and probably is named as the primary or sole beneficiary of your estate. Clearly, you should immediately review your will or living trust with an estate planning attorney to determine if you wish to make any changes.

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