You and your client, Belinda, have struggled through 3 months of negotiations and a final decree is in place. Belinda is happy with the settlement and leaves your office with a big smile. As you are waving goodbye, don’t forget to remind her that she’s not done yet – now the instructions in the decree need to be carried out.
Read MoreCompany incentive benefits come in all sorts of forms. Typical rewards are stocks options (qualified and non-qualified), Restricted Stock Units (RSUs) and Employee Stock Purchase Plans (ESPP). They may also include Performance Shares. It’s important to know the structure and workings of each type of plan, as their economic benefits differ.
Read MoreMillennials – those currently age 18-38 – are predicted to be the first generation in US history to do worse financially than their parents.
Read MoreOccasionally we come across language in divorce decrees that is written in a loose or vague manner. The most important aspects of the intended award are outlined, but the details are not. Often this will lead to confusion when it’s time to carry out the decree.
Read MoreOne of the questions we are frequently asked from our divorcing clients is, “Will I be able to retire?” Looking at half of the pot of money the couple had amassed during the marriage can be a shock as our client realizes that divorce may have taken them a few steps backward on the path to retirement.
Read MoreThe marital home is arguably one of the most important assets a couple will own. Assigning it a realistic and accurate value in a divorce may take more time and thought than most couples give to this task. Carelessly choosing a dollar value may result in a financial headache.
Read MoreLast month, we discussed the importance of knowing how an asset is taxed when it is sold, and focused on capital gains. This month, we would like to address capital losses, as those too can affect a client’s financial situation – in fact they can be quite beneficial.
Read MoreWhen assisting a couple with the division of assets, it is important to take into consideration each asset’s cost basis. This affects how items are taxed (if they are taxed) when sold. If there is significant tax to be assessed, then the real value of the item is much less that it appears on paper. And if your client is receiving an item that is truly worth half its current value once it is sold, that may have a profound effect on their future - the client could end up with much less money than it appears. Therefore, calculating the after-tax value of assets is important. Like a used car, you want to look under the hood before buying!
Read MoreHealth Savings Accounts (HSAs) were created as part of a tax reform package in 2003 as a way to help taxpayers pay for medical expenses with pre-tax dollars, and have grown in popularity over the past 15 years. Surveys put the estimated number of Americans with HSA accounts somewhere between 21 million and 33 million. Regardless of the exact number, they are becoming more popular and it is not uncommon to find them among the assets of a divorcing couple.
Read MoreIn January 2019, New Hampshire will finally have an alimony law that provides a framework for setting alimony amounts, as well as standards for modifying and terminating support.
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