Since the Recession of 2008, the United States has seen a steady increase of divorce rates. Among U.S. adults ages 50 and older, the divorce rate has roughly doubled since the 1990s. Adults 40-49 also saw an increase of divorce rates but with only 14% increase. One possible reason the divorce rates have steadily increased over the past couple decades… READ MORE
Record Retention and Management is an organizational function devoted to the management of information. Essentially, from when a piece of information is created, a schedule to ensure the records are legally kept for the appropriate amount of time and that some records are properly disposed of should be implemented. The period of time you should keep a document will depend… READ MORE
For many, tax season and filing are a burden all their own, however, add divorce to the mix and it can become an even more complicated process. The newly enacted Tax Cuts and Jobs Act (TCJA) impacts tax filing with some new twists. Your marital status at the end of the year will determine how you file your tax… READ MORE
During divorce proceedings, property is typically divided equitably (but not always equally) between two spouses. During the proceedings, both spouses will inform the court about their income and any debts they owe, and the court will be able to decide what property is going to be considered and how that property will be divided. There are two different types of… READ MORE
Since the Recession of 2008, the United States has seen a steady increase of divorce rates. Among U.S. adults ages 50 and older, the divorce rate has roughly doubled since the 1990s. Adults 40-49 also saw an increase of divorce rates but with only 14% increase. One possible reason the divorce rates have steadily increased over the past couple decades… READ MORE
Divorce is known to take a substantial emotional and financial toll to all parties involved. It’s crucial to make informed financial decisions regarding the division of assets that you and your spouse have accumulated during your marriage. For example, retirement savings are one of, if not the largest and most valuable financial assets a person can own. Therefore, retirement savings… READ MORE
In a marriage, commingling happens when money belonging to one spouse is mixed with the funds of the other spouse. A couple’s assets and property are generally divided into two categories: marital or separate property. In the context of marriage and divorce, commingling refers to instances where separate property is mixed with marital property, meaning the separate property can’t be distinguished from… READ MORE
Understanding how divorce can impact your business is crucial. After all, your business is one of the most valuable financial assets you own. You spent a lot of time, money and effort in creating and running a successful business so make sure you are taking the proper precautions to protect it. Depending on your individual circumstances, your spouse may be… READ MORE
For many, tax season and filing are a burden all their own, however, add divorce to the mix and it can become an even longer process. Before filing your income taxes, understand what is involved if you are divorcing. Your marital status at the end of the year will determine how you file your tax return. If your divorce has… READ MORE
A verbal agreement, which can also be referred to as an oral contract, is an agreement made without a formal written contract. Simple verbal agreements can be the product of negotiation, like who will do dishes or who will take the dog on a walk each day. With verbal or oral agreements, no document is executed showing that one party… READ MORE