Posted on May 11, 2008 by Mark Jakubik
The proposed housing reform package may offer some bail-outs for those who have experienced losses as a result of the downturn in the housing market, but it may not offer enough help for average families trying to get out from under overwhelming mortgages, especially if those families are trying to divorce and complete settlement negotiations.
The [...]
Filed under: Divorce, Finances | No Comments »
Posted on April 16, 2008 by Mark Jakubik
April 16 is National Divorce Day, according to Beverly Pekala, a Chicago divorce attorney who specializes in family law. She maintains that more people file for divorce the day after the federal tax deadline than any other day of the year. Money, she said, is at the heart of the problem.
That’s because on April 15, [...]
Filed under: Divorce, Finances, Taxes | No Comments »
Posted on April 12, 2008 by Mark Jakubik
Did you know that changes in your lifestyle could affect your taxes? When these changes happen, you will need to make adjustments to avoid creating IRS Problems.
Have you recently gotten married? If you have changed your name, you will need to notify Social Security to get your name changed on your card. [...]
Filed under: Finances, General Family Law, Taxes | No Comments »
Posted on April 12, 2008 by Mark Jakubik
Divorce is never easy, and fear of one’s financial future often looms large. Property division, alimony, child support are usually negotiated. Then, if either or both spouses remarry, two or three sets of kids complicate matters.
Careful advisers always delve into the question of life insurance early in the process. What will happen, for example, if [...]
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Posted on March 29, 2008 by Mark Jakubik
The Financial Times ran the below story in this weekend’s edition, looking at how shifts in the value of real estate can complicate property settlements. While the article focuses largely on how rising values - a thing of the past in most markets in the United States - can change how spouses approach their divorces [...]
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Posted on March 16, 2008 by Mark Jakubik
Honesty may be the best policy for a successful marriage. But when it comes to divorce, couples are becoming increasingly devious in concealing their wealth from each other.
One fifth of couples who divorced last year tried to conceal their assets or income from their spouse - a figure which has doubled since 2006 - a [...]
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Posted on October 15, 2007 by Mark Jakubik
1. Trying to keep the house no matter the costs.‘ Many couples scrambling to obtain a divorce settlement wish to keep the house at any cost. However, financial experts say that more attention should be given to who can afford to maintain the property, pay the mortgage, and manage the taxes. While it is possible [...]
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Posted on October 15, 2007 by Mark Jakubik
Some older clients seek guidance as they end their marriages
As if baby boomer retirement and estate planning weren’t enough,
financial advisers are now grappling with another issue brought to the
fore by boomers: late-in-life divorce. Advisers are reporting that more of their clients who are approaching retirement age are coming to them for financial guidance as they [...]
Filed under: Divorce, Finances | 1 Comment »
Posted on August 23, 2007 by Mark Jakubik
One of the reasons for the dramatic increases in child support guidelines over 20 years is the pervasive and mistaken notion that divorced fathers gain economically from divorce while women suffer from it. The myth stems from a now-discredited study conducted over two decades ago by feminist Lenore Weitzman, author of the 1985 book The [...]
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Posted on August 3, 2007 by Mark Jakubik
In the unfortunate event that you get a divorce, worrying about your credit score may be the last thing on your mind. However, even during the most trying times of our lives, the world keeps spinning and the fact is, divorce can greatly impact your finances and credit history. If you are seeking or have [...]
Filed under: Asset Distribution, Divorce, Finances | 1 Comment »
