If you’re looking to minimize costs, it’s important that you and your spouse try to get along – and that before you hire a divorce lawyer or a mediator, you get estimates on what the costs will likely be. Before you hire an attorney or mediator, try to discuss how you want your post-marriage life…
Going through a divorce is incredibly stressful, especially if you’re worried about your finances. Most people want to know if divorce hurts your credit. What Happens to Credit Card Debt in a Divorce? List your accounts. Make a note of joint accounts, credit cards that include you as an authorized user name. Pick a debt-elimination…
A QDRO is a court order that judges use to split up certain types of retirement plans, like a 401(k), into two equal parts for a divorcing couple. Not every retirement plan, however. You’ll usually need to get a QDRO if you and your spouse share the following financial retirement plans: A private pension plan….
Divorce mediation is a great mechanism that helps spouses enter into mutually agreeable mediation arrangements. Mediation requires a neutral third-party mediator allowing you to achieve your own decisions. It’s generally good for a mediator to be a divorce counselor who understands the procedure as well. Familiarizing yourself with the benefits and drawbacks of divorce mediation will…
Getting divorced is expensive. In fact, there is almost no such thing as a cheap divorce. Whether you’re going to pay alimony or receive it, it’s probably safe to say that most partners ending a marriage will soon feel as if they’ve taken a financial beating. Even if the breakup is amicable, splitting assets isn’t…
If you’re getting ready to tie the knot, the thought of a prenup may have you tied in knots. But many divorce attorneys suggest that getting a prenuptial agreement, a legal document that determines how assets will be divided and protected in the event of a divorce, is a smart financial decision. Pro: A prenup…
A more modern rite of passage for kids is going to the courthouse during their parents’ divorce proceedings to talk to judges about their living situations, about who does the majority of the parenting and about whom they feel the closest feelings of warmth and love. Aside from doing everything in their power to keep…
Prenups exist for a reason – to protect an individual’s assets in case of divorce – and some couples do get them. So for the sake of argument, is a prenup a good idea? Should you ask the man or woman you’re planning on marrying for a prenup – or save some time and just…