Before you and your spouse got married, they asked you to use a prenuptial agreement. Perhaps you were getting married later in life, and you both had a significant amount of assets that you wanted to protect. The prenup was simply a way to make proactive decisions in...
What could happen to your family business after divorce?
You may have built a thriving enterprise with your spouse during the better days of your marriage. When you decide to end the marriage, is it the end of the family business? The answer to that depends on the unique circumstance of your situation. Divorce may affect...
Dissipation of marital assets and what it means to your divorce
When the best days of your marriage are behind you and divorce is on the horizon, your spouse may start being reckless with marital assets such as bank accounts or joint credit cards. You may begin to notice unusual or suspicious transactions by your soon-to-be ex,...
Do you pay capital gains taxes on assets transferred in divorce?
Property division in divorces often involves the transfer of assets from one spouse to the other. Your spouse may give you their share of the family home while you give them a chunk of your stock portfolio, for example. If those assets have increased in value over the...
Should you keep the house after the divorce?
One of the most contentious aspects of the property division stage of divorce is deciding who gets the family home. Typically, both spouses fight for marital property, especially the house, often out of vengeance. Other times one spouse wants the home to provide...
If you want a prenup, don’t delay the request
Many people who want prenuptial agreements are a bit nervous to ask their potential partner to sign one. They procrastinate it and put it off. They’re worried that the other person is going to think that they’re already considering a divorce and then call off the...
Is your inheritance separate property?
You certainly think of your inheritance as property that your spouse does not own. When your parents passed away, they left it to you directly and it was in your name only. You clearly have the option to share it with your spouse if you want, but it belongs to you....
4 reasons your spouse might cede you the house in the divorce
Your family home is typically the, or one of the, most valuable assets you own together. Therefore, if your spouse says, “Don’t worry. You take it,” you need to understand their motives. While you should not assume your spouse is trying to rip you off, it pays to be...
What impact could hidden bank accounts have on a divorce?
Some people facing a high-asset divorce will hire a forensic accountant to look for signs of a hidden bank account or other hidden assets. Although such investigatory efforts may seem unnecessary at first, they could actually return significant dividends. There is a...
3 financial mistakes to avoid during divorce
Even when a marriage ends amicably, it is not unusual for the divorcing couple to argue through a couple of issues. Division of marital assets tends to be one of the most contentious issues during the divorce. However, since divorce is often a strenuous and difficult...