Divorce and Money - Who Gets What?

Divorce and money concerns seem to go hand-in-hand. Not only do you have to determine how to split the assets and debts during the divorce, but then you'll have to figure out how to survive financially after the divorce is finalized. Below are various financial matters you need to take into consideration as you are going through your divorce.

Topics:

Preparing Financially for Divorce

Who Gets the House? / Dividing Equity / Mortgages

Dividing Other Assets

Investments, Retirement, and Social Security Benefits

Alimony Provisions

Protecting Your Credit

Dividing Debts and Debt Responsibility

Tax Issues Affected By Divorce

Financial Issues after Divorce

Preparing Financially for Divorce

• Preparing For A Divorce - A little planning and preparation before ever starting the divorce process can make a world of difference in the final outcome.
• Planning and Preparing for a Divorce Financially - Learn why financial awareness is so important and the crucial steps you can take to safeguard your financial well-being.  
• Financially Prepare For A Divorce - How budgeting can help.
• Financial Considerations gives an over-view of how divorce can affect you financially, and what you should do before getting a divorce.
• Budgeting Income and Expenses During Divorce will not only help you establish the standard of living, but also financially prepare you for life after your divorce.
• Five Divorce Mistakes to Avoid and improve your chances of success.
• Can You Afford to Divorce? - If money is tight, what factors do you need to consider.
• What if I can't afford a divorce? - Alternatives you may not have thought about.
• Important Financial Documents for Divorce - Financial issues are often contested in divorce settlements, so it makes sense to make copies of your financial documents as soon as possible. Here’s what to look for.
• Divorce Tips - These tips will help you determine your marital net worth so you get a fair divorce settlement and gauge your financial status post-divorce.
• Divorce Advice for Stay at Home Moms - Important steps you can take to protect your financial future if there is a good possibility you'll be getting divorced.
• Divorce Financial Planning - When you're getting divorced, it's hard to even think about the future. These seven steps can help reduce some of your financial difficulties during the divorce and as you begin to rebuild your life.
• Steps to Prepare for Divorce - Since financial issues often dominate a divorce it makes sense to have a financial planner help you sort out the decisions.
• Minimizing The Cost of Divorce - ideas and approaches to help save money on the divorce process.
• Post Marital Agreement Tips - This type of agreement occurs after a couple is already married and outlines how ownership of assets and financial responsibilities will be handled if the couple divorces.
• Health Insurance and Divorce - making sure that you are covered before you get a divorce.
• Top 10 Life Insurance Issues in Divorce: Here are the main issues to think about regarding life insurance policies when getting divorced.
• Court Ordered Life Insurance - In situations where child support and/or alimony are ordered, the court may require the paying spouse to  have life insurance to guarantee the support payments will continue after death.
• Life Insurance Issues - Advice from the legal expert.
• Pet Custody - Determining who gets the pets in a divorce?
• Divorce & Death -Understanding the financial implications if a spouse dies before the divorce is finalized.
• Return to divorce and money topics
  

The Marital Home

• Leaving the Marital Home - Moving out before the divorce is finalized is common, but what are the obligations of the spouse that leaves?
• Should You Keep the House? - What to take into account when deciding.
• Who Gets The House In Divorce - Issues to consider regarding the marital home.
• The Marital Home - Determining which spouse gets to keep the house, how the mortgage is handled, and splitting the equity.
• Dividing Home Equity in Divorce - Understanding your various options.
• Divorce and Quitclaim Deeds - Find out how you can protect your interests in the home and if you should sign a quitclaim deed.
• Divorce Mortgage Options - What to do about your home mortgage.
• Divorce and Mortgage Questions - Answers from the experts.
• Refinancing The Marital Home - Issues that should be considered.
• Should You Refinance Before Divorce - There are advantages and disadvantages to refinancing before a divorce. Find out if it makes sense in your situation.
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Dividing Marital Assets

• Divorce Considerations - Here are the most vital things to think about before you start the divorce process to protect your interests.
• Who gets what in a divorce?
• What’s Worth Fighting for in Divorce - When your life has been turned upside down, it's hard to know what things are actually worth fighting for. These tips can help you figure it out.
• Divorce Settlement Considerations -This article discusses seven common mistakes made during divorce negotiations that can cost you in the long run.
• Divorce Settlement Negotiation Strategies - Get prepared to negotiate by keeping these key financial issues in mind.
• Getting a Fair Divorce Settlement - What may seem like a good settlement offer today may not always be the best thing in the long run. This article discusses why you need to consider the long-term impact of a settlement offer before you agree to anything.
• Divorce Settlement Questions - Understanding your settlement.
• Divorce Property Issues - Frequently Asked Questions.
• Divorce Bank Account Issues - Do you have questions about how checking and savings accounts are handled during a divorce? Will your accounts be frozen? Are you entitled to half of the account money? Find out here.
• Assets In Divorce: Cars, Trucks, Motorcycles, etc. - Wondering how vehicle ownership is handled in a divorce? Will you get to keep the car? Will you be compensated if your ex retains ownership? Find the answers to these common questions and more.
• Inheritance and Divorce - Is an inheritance considered separate property or is it a marital asset? Get answers to all your questions on inheritance issues in a divorce.
• Dissipated Marital Assets - How to handle missing assets.
• Searching for Hidden Assets - The top nine places to look.
• Protecting Assets in a Divorce if your spouse is prone to hiding marital assets.
• The Bifurcated Divorce -Ending the marital status while other settlement decisions are being negotiated.
• Property Bought During Divorce - Is it divisible and how?
• Divorce and Business Assets - What you are entitled to and how it's split.
• Small Business Valuation in Divorce - Find out what goes into valuing a small business and how the pandemic can affect the numbers.
• Divorce and Business Valuations - Tips to sort it all out.
• Using an ESOP in Divorce Settlements - For multi-million dollar business owners who can't fully pay their divorce settlement in cash, an ESOP is a possible solution.
• Professional Degrees and Divorce - What is considered when a spouse has an advanced degree.
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Dividing Investments and Retirement Assets

• Dividing Cryptocurrency in Divorce - Digital currency such as Bitcoin and Ethereum can complicate the division of assets in a divorce. Find out how they can be fairly valued and divided.
• Retirement Assets - Types of retirement plans and valuations
• Dividing Retirement - How plans are divided and how to find existing plans.
• Dividing Retirement Assets - Frequently asked questions.
• Nonqualified Deferred Compensation Plan Distribution - The pros and cons of various equitable distribution solutions.
• Divorce 401K settlement - Rolling over your portion.
• Converting IRA to Roth IRA in Divorce - While converting traditional retirement plans to Roth IRAs can be beneficial to many people, there is a unique opportunity that often arises in the year of a divorce.
• Pension and Divorce Evaluations - Is it considered as an asset or income.
• Questions about Profit Sharing Plans and how they are handled in divorce.
• Dividing Hedge Funds in Divorce - Here is what family lawyers should know before dividing hedge fund assets in a divorce.
• Divorce and Social Security Benefits- The effect of the 10 year rule.
• Military Disability Pay - How VA disability compensation and military disability retired pay are handled.
• College 529 Plans in Divorce - 529 plans are established to fund future college expenses. Find out how they should be handled and what should be considered when getting divorced.
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Alimony Provisions

• Alimony - When it's awarded, what kind, and for how long.
• Spousal Alimony and Support - Information and frequently asked questions.
• Is Alimony Taxable – New tax rules changed how alimony is handled for tax purposes. Find out when the rules take effect and how it could impact you.
• Manimony - Paying alimony to your ex-husband. Is it fair?
• Pendente Lite Relief - Temporary orders for support while the divorce is pending.
• Life Insurance Issues - Guaranteeing the payments are made.
• Return to main topics on divorce and money issues
  

Protecting Your Credit

• Credit - What to think about during and after your divorce.
• Can Divorce Affect Credit Ratings? - Find out how the fall-out from divorce can have a lingering effect on your credit rating.
• Protecting Your Credit During Divorce - Steps that you can take to minimize the damage to your credit score.
• Rebuilding Your Credit After Divorce - Learn what you can do to improve your credit score.
  

Dividing Debts

• Debt and Divorce - How debt responsibility is viewed by creditors when two people end their marriage.
• Dividing Debts in Divorce - Protecting your best interests when it comes to dividing assets and debts.
• Debts in divorce - What to consider when dividing debt.
• Divorce and Unsecured Debt Responsibility
• Secured Loans on Shared Ownership Property - How to split these debts when you own property together.
• Divorce and Auto Loan Responsibility - Who is legally responsible.
• Student Loans and Divorce - The division of student loans will need to be determined in your divorce. Learn whether it would be considered separate or marital debt and what factors affect the division.
• Spousal Debt Liability - Find out what protection you may have against being liable for your spouse's debts.
• Divorce and Bankruptcy - Why bankruptcy and divorce sometimes go hand-in-hand and what you may expect if the two happen in your life.
• Handling Divorce Debt - What happens when your ex doesn't pay?
• Responsibility for Credit Card Debt in Divorce
• Divorce and Credit Card Debt - Options for repaying the left-over credit card debt and how each will impact your credit standing.
  

Tax Issues

• Getting A Copy of Tax Return Information - Prior tax returns can provide a wealth of information if you're trying to reveal assets, pensions, or income that have not been included in your spouse's financial disclosure. Find out how to get your copy.
• Can You File a Joint Tax Return - Learn about your filing options before the divorce is finalized.
• Should You Sign that Joint Tax Return - While there a financial advantage of filing jointly while your divorce is pending, it might always be the best idea.
• Capital Gains Taxes and Divorce - How the taxes on the eventual sale of the family home should be address in your settlement agreement.
• Is Alimony Taxable? - It depends on when your divorce was finalized. Here are the rules.
• Child Tax Credits After Divorce - Find out if you qualify for a child tax credit, child care credit, earned income credits, or any education tax credit.
• Post-Divorce Taxes and Claiming the Children - Determining which parent gets to claim the children for tax purposes and how it affects what you can claim.
• Head of Household Tax Filing Status - discusses who gets to claim this filing status after divorce.
• Claiming the Dependent Tax Deduction - The rules for who gets to claim this deduction changed. Find out how these changes affect you.
• Divorce Tax Dependents - There is often confusion over who gets to claim the children for the dependent tax deduction after the divorce. These answers from the legal expert explain the situation.
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Financial Issues after Divorce

• Handling Financial Issues After Divorce - Things to take care of after the divorce is finalized.
• Managing Your Finances After Divorce - Many women take a financial hit due to divorce, but these tips can help you regroup and get your life back on track.
• Rebuilding Your Credit After Divorce - Improving your credit after divorce is something that you should focus on as soon as possible, as it will affect your ability to get a job, loans, insurance, and more.
• Divorce And Health Insurance - Different options to make sure that your family is covered.
• Remarriage and Prenuptial Agreements - When getting remarried, it's important to protect your assets.
• Should I Get a Prenup? - While prenuptial agreements may not seem romantic, they can provide a level of protection for both parties in case the marriage doesn’t work out. Here are four situations when it makes sense to get one.
• Premarital Agreement FAQs - What they cover and how to proceed.