Divorce brings with it many financial decisions, and education funding is often one of the most significant. If you’ve saved for your child’s education in a tax-advantaged account, you may be wondering how to handle those funds now that you’re separating from your spouse. Fortunately, there are several options available that can allow you to…
Navigating the divorce process can be particularly challenging for families. While dividing assets is rarely easy in any scenario, determining how to divide accounts you started for your children during your marriage can raise additional questions and concerns. Types of children’s financial accounts There are several types of accounts parents open for their children. Some…
The short answer is that divorce will not affect your Social Security in negative ways. There are, however, certain circumstances that may lead to changes in the amount that you or your spouse can collect in Social Security benefits. Read on to learn more about how you or your spouse’s Social Security benefit could change…
When people plan ahead for divorce, strategizing for a comfortable retirement is often at the top of the list. You likely have a wide range of assets that will be divided in your settlement, including any retirement accounts. Your 401K is subject to equitable division in Ohio, so below we will explore how your 401K…
Some divorce settlements can be simpler than others to negotiate. Sometimes ownership of certain accounts or assets can provide more complexity and may require help when discussing possibilities for dividing your financials. One of those more difficult aspects is the division of rental properties. If you and your spouse obtained any rental properties during your…
Divorce can feel daunting, but there are a few steps you can take to ensure you financially recover and have the opportunity to reach your long-term financial goals. The path to financial recovery from a divorce starts with evaluating your cash flow, understanding your savings ability, and making an investment strategy that is aligned with…
Pensions valuations are often a complicated and confusing subject during divorce planning. Additionally, there’s a cost associated with this process. That said, having a pension valuation conducted could very well be the best investment you make in your financial security during your divorce. Let’s get started with the fundamentals by covering what a pension is,…
Agreeing to a divorce settlement can be overwhelming, especially when you read through the legal jargon incorporated in your decree. There is some standard language you may see that clients commonly have questions about. One of the most asked questions has to do with the phrase “plus or minus gains and losses.” It is very…
You’re in that final stretch of your divorce; you can see the finish line ahead and have reached a settlement agreement with your spouse. Now your attorney or mediator turns to you and says, “You are going to need a QDRO and that will be an additional cost.” So, what is a QDRO and why…
One of the most common questions we get when talking to a prospective client about their divorce is, “What assets should I be advocating for?” The implication here is that not all accounts are created equally, and that is the truth. Equal and equitable are not the same thing when discussing an asset division. Here…