Credit Cards and Divorce
Credit card accounts and debt can become contentious issues during the divorce process. How is credit card debt divided? Who keeps the credit cards after divorce? What happens if my spouse obtained a secret credit card during our marriage? Here are answers to five frequently asked questions regarding credit card issues during divorce. How Is Credit Card […]
What Date to Use to Value the Marital Estate
But how do you know which date to use to value the marital estate? What if the parties file for divorce in January, but continue living together and maintain their finances together until their divorce is final in October? What if the parties are still married, but have been living separately (physically and financially) for […]
What Happens to the Family Home in a Divorce?
One of the biggest decisions to be made during the divorce process is what will happen to the family home? This decision is more than just a legal one. It impacts both emotions and finances. Although there are many factors to consider, generally there two options for the home – either one spouse will keep […]
The Marital Estate – What is Included and How is it Divided?
The marital estate includes all property, assets, debts, and liabilities acquired by the parties during the course of the marriage. The marital estate does not include property acquired through a gift or inheritance. Similarly, the marital estate does not include property acquired by one spouse before the marriage. If the premarital property can be easily identified at the time […]
Social Security Benefits & Divorce
If your marriage lasted 10 years or more, and you are now divorcing, you may be able to receive Social Security benefits on your soon-to-be former spouse’s record (or vice versa). In order to receive these benefits on your former spouse’s record, the following criteria must be met: You must be unmarried. At the time […]
How to Decide Whether to Keep Your House in the Divorce
Since your home is typically the largest financial asset you own (and biggest expense), it’s no surprise that deciding what to do with that big asset can be a big bone of contention between divorcing spouses. When deciding whether to keep or sell the marital home, it’s important to consider this decision through three distinct […]
Divorce and Retirement Accounts
Retirement accounts are often one of the most valuable marital assets to be divided in a divorce. Regardless of whose name is on the account, retirement funds that accrued during the marriage may be divided in a divorce “Retirement accounts” encompass a variety of accounts – individual retirement accounts (IRAs), 401(k) plans, 403(b) plans, Railroad […]
