Coping with Separation & Divorce
Going through a separation or divorce can be very difficult, no matter the reason for it. It can turn your world upside down and make it hard to get through the workday and stay productive. But there are things you can do to get…
Steps to Establish New Credit
Open a Secured Credit Card: This requires a cash deposit as a guarantee but works like a regular credit card. The payments are reported to at least one of the credit bureaus, which helps build credit. Become an Authorized User: Being added as an authorized user…
Common Money Issues Among Couples
1. Couples Don’t Talk About Financial Stress Stress sets the stage for unhappiness, and finances are a big-time contributor to stress. What makes financial stress worse, though, is that many couples don’t talk openly to one another about their money burdens. 2. One (or…
Helping Older Divorcees Buy a Home
It’s fairly common for divorcing spouses to have to decide what they’re going to do with the primary residence. Often times, an emotional decision is made to transfer the house to one person’s name. Under those circumstances, it’s fairly common that little thought is…
Dividing the Family Business
Dividing a family business can present many issues, so here are a few examples of common issues and the outcomes. The first issue is making sure to get a professional valuation of the business. Let’s pretend that Shawn and Jennifer had been married for…
The Biggest Problem with QDROs (Qualified Domestic Relations Orders)
One of the most significant problems with QDROs is not having them prepared before the divorce is final. The reason this is such an enormous problem is that after the divorce is final, the former spouse has no rights to something that was not…
Dividing Assets Equal in Value Can be Totally Unequal
Dividing property can be one of the most challenging and complex pieces of a divorce. What appears to be an easy decision such as “I want the house, you keep the investments,” may in the end deliver a settlement nobody bargained for. Jan and…
Dividing the Family Business
Dividing a family business can present many issues, so here are a few examples common issues and the outcomes. The first issue is making sure to get a professional valuation of the business. Let’s pretend that Joe and Patty had been married for 35…
Does a Career Have Monetary Value?
A few states place monetary value on degrees such as a medical degree, a dental degree, or a law degree. That’s not the case in Colorado, so the value of a degree needs to be evaluated in a different way. Some corporate employees have…
How to Recover Financially After your Divorce
Once the dust has settled, follow these steps to get back on track with your finances. Get the lay of the land Before you can find your feet, you need to know exactly what’s going on with your money. That means pulling your head…