Divorce Financial Planning

It’s important to predict divorce if you can. If you understand that it’s coming, that knowledge gives you time to take important steps to prepare for the divorce. For instance, you can gather your financial documentation and take an inventory of the assets that you...

One of the biggest changes that you have to deal with during a divorce is figuring out finances. This can be challenging because you still have to support basic life needs, but you’ll only have your own income to rely on. There are a few things to consider that may...

The word mortgage is a French term that literally means death pledge. The name reflects the level of commitment involved in such agreements and also the many years that are generally required to pay a mortgage off in full. The average mortgage lasts for 30 years,...

Determining what to do with your family home as you divorce can be a challenge. However, even if you’ve gotten that sorted out, what if you have a rental property as well? That can be even more complicated. Whether you’re renting out your starter condo or home or a...

It is prudent to keep track of your finances in the lead-up to your divorce and during the proceedings. That way, you will understand when something is wrong and take appropriate action to protect your financial interests. Among the things you should be wary of is the...

Your estate plan sometimes needs to be updated to reflect your current circumstances, and divorce means big changes. That likely means updating your will and other estate planning documents. Estate planning is commonly perceived as being only about finances. While...

When you fall in love and marry, one of the things you need to do is update your estate plan to reflect your marital status. Some of the updates you may want to make on your estate plan include naming your new spouse as a beneficiary and giving them the power to make...

A divorce decree settles the financial and legal matters between you and your ex-spouse. However, it does not change the estate plans you had made during the marriage, and it might not be in your best interests. You had probably included your former spouse among the...

People attribute special powers to money. They claim it corrupts people, starts wars and causes divorce. Yet, money is nothing more than bits of paper and pieces of metal. The real problem lies in people’s attitudes to money and, in the case of a marriage, how they...

If your house has an outstanding mortgage you need to take extra care in a divorce. When you own a property outright, it becomes one more asset to divide. Yet, if there is still money to pay, the property is technically not yours, but the bank’s and they will get...