Should you be transparent in your divorce process?
Being transparent feels unnatural to some and natural to others Transparency is a funny thing and can become quite uncomfortable if one or both parties do not comply. People become less transparent for a number of reasons such as when they: Truly want to hide...
Are there any risks to remain separated but not divorced?
Some people remain separated for years and never get a divorce. Are there any risks with this approach? The answer is it depends. People in this situation get used to their “new normal” but are not aware there are risks with being separated and not getting a divorce....
The IRS finds you liable for your spouse’s taxes after your divorce
Commonly referred to as “Innocent Spouse and Separate Liability Relief” Imagine you just completed your divorce process. Then you get a notice from the IRS indicating you are liable for a tax debt that your spouse should have paid while you were married. Can you...
Some financial implications of QDROs
In order to properly manage the financial implications of a QDRO you need to involve a financial divorce expert in the process. Ideally you would involve a financial divorce architect as these professionals understand how the “divorce chess board” works, even if you...
Should I obtain QDROs for multiple retirement plans?
Some people automatically jump to the conclusion they need a QDRO (Qualified Domestic Relations Order) when a retirement plan exists in a marital estate. Yet, is a QDRO needed for every retirement plan in a divorce? How do you make the decision whether to move forward...
Should you jump to refinance your home during your divorce?
People who are thinking about going through a divorce or in the midst of the process, sometimes jump at the opportunity to refinance their home. They say to themselves they want to get their spouse off of the mortgage. In context to a divorce, is this a good move or...
More time to challenge a tax debt translates into “wait to divide”
When an IRS tax levy is outstanding on the marital estate Overview and context If the IRS determines a taxpayer has not paid its fair share of tax and has made periodic requests for payment that have gone unsatisfied, the IRS has the right to issue what is commonly...
Reps and Warranties in a divorce. Do you need them?
The short answer is Yes. What are reps and warranties? Why do you need them? If you read a divorce decree you may or may not find representations and warranties inside the agreement. Yet, they are a critical aspect to any divorce. What are reps and warranties? When...
Is your personal balance sheet properly defined for your divorce process?
Many people are surprised when we share with them they have left a lot of money on the table in their divorce process. They wonder how this could possibly have happened. The reality is the labeling structure (e.g. cash, real estate, investments, etc.) usually does not...
Who gets the frozen embryos from a divorce?
What happens in today’s day and age when people who received medical assistance to get pregnant have embryos in storage and get a divorce? Naturally, this question comes with a lot of sensitivity yet needs to be addressed in a divorce proceeding. Certain countries...