A highly debatable aspect of any divorce is the debt that was a joint endeavor between you and your spouse. One must not assume the divorce means splitting the debt according to your liking.
A defined contribution plan and a defined benefit plan are different and they can be identified by the wording of them. For example, a defined benefit plan is this: You don’t know what you’re going to be putting in every week. It might 6% of your salary, 6.5% of your salary, 7% of your salary, […]
The first step is to evaluate whether the business is a marital asset or what portion of the business is a marital asset. Was the business gifted to one of the parties before or during the marriage, or has it grown during the marriage, that it was a premarital business and the parties invested […]
The first thing we need to look at is what is a stock option? A stock option is the right to buy stock in a company who employs the spouse at a discounted or fixed price within a certain period of time. Stock options can be valuable and they’re subject to equitable distribution as a […]
We describe what the financial differences are between marital and separate property. We can give you a general idea about how property division should work in Ohio.
There are seven costly financial mistakes people can make during divorce. We have found that individuals who understand the financial aspects of the divorce process are much more likely to feel empowered to divorce with financial confidence.
There are six key areas that need to be addressed in a financial analysis. Whether you are in the middle of a divorce and considering settlement options or your divorce is final, you need to create a financial plan for yourself.
Have you considered hiring a financial professional? A forensic lifestyle analysis covers money coming in and going out. Watch my video on “Why would I get a lifestyle analysis during divorce?”
A lifestyle analysis provides specific information and data about income and expenses incurred during the marriage. An experienced professional may discover possible hidden assets, unreported income or incorrectly reported living expenses.
Which retirement plans types do you and your spouse have, and what are the rules? Social security benefits cannot be split, but there are rules about eligibility after 10 years or more of marriage.