Your Finances

Doctors, You Have a Lower Risk of Getting Divorced … Unless You’re a Woman

Common wisdom may lead to the assumption that doctors are ripe for divorce. After all, they tend to work long hours and experience a high level of stress on the job. Certain doctors, like ER physicians and gynecologists, may need to rush off to work in the middle of the night to save a life …

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How to Buy a Home After a Divorce

The emotional grief of divorce is all too easy to anticipate, but many people fail to realize how big a financial blow it can land. One of the biggest financial struggles people face after a divorce is how (and whether) to buy a home. Owning a home is a big part of the American dream, …

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She Was Married Less Than a Year and Filed an Uncontested Divorce, So Why Did It Cost Her Over $17,000?

After what she describes as a “whirlwind romance” in a new article on Business Insider, Jorden Barcus married her love. She was 21, just out of college, and had almost nothing to her name other than student debt. Just eight months later, Jorden recognized that passion and romance don’t always make a strong foundation for …

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Can I Get Social Security Benefits from My Ex-Spouse Even If It’s Not in My Divorce Decree?

QUESTION: I heard that I may be entitled to collect Social Security benefits when I retire based on my ex-husband’s earnings. But I looked at my divorce decree and it doesn’t say anything about it. Did I miss the boat? ANSWER: Here’s some good news about your divorce. If you were married to your ex-spouse …

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Social Security

Will I Lose My Alimony If I Go Back to Work?

With the dramatic cost of childcare in the U.S. (estimated to be $11,666 per year) and our country’s less-than-stellar family-friendly labor laws, it’s understandable that 26% of women aren’t in the workforce. However, that decision could hurt women dramatically when it comes to divorce. If one partner dramatically out earns the other (often the husband), …

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How to Negotiate for Your Children’s College Costs During a Divorce

We love this guest article, written by Dr. Shokohi. It provides loads of important information for parents who are preparing for a divorce. College costs are always a difficult (and scary topic), but financial planning for college can become even more complicated once you are divorced. Who is going to pay when the big tuition …

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How to Close Down Joint Accounts During a Divorce

Separating your life from another person can seem like an endless journey requiring a million steps. Many articles focus on the big picture tasks related to divorce, but you also need to know about all the nitty-gritty things, too, like how to close down joint checking accounts. With that in mind, here are some things …

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Why Your Post-Divorce Budget Shouldn’t Rely on Child Support

No amount of money can replace time with your children, so though we all know how expensive children can be, most mothers fight hard to gain custody of their children during the divorce. If you are considering divorce or have already started down that road, you may assume that once you gain custody of the …

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The Second Saturday Divorce Document Checklist

A Comprehensive List of Documents You Need to Prepare for Your Divorce One of the primary purposes of your divorce settlement is to divide your marital property between yourself and your spouse in a way that is fair and equitable. (Hopefully, you and your spouse can come to an agreement on what is fair and …

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Educate Yourself About Divorce

The decision to get a divorce will be one of the biggest and most consequential choices of your life. Your divorce will directly impact your finances, your quality of living, the lives of your children, and your own emotional health. Maybe you’ve already decided that a divorce is the right choice for you, or perhaps …

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How to Save Your Business in a Divorce When You Didn’t Have Time to Plan

Your marriage is coming to an end, and on top of the emotional event, your business could be in jeopardy too. You’ve spent years of your life painstakingly building your business into a thriving enterprise, but now your spouse could seek an ownership stake as part of your divorce settlement. Are you going to have …

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How Much Do I Need to Save for a Divorce?

For many women, the realization that a marriage is failing is a long, agonizing road. Oftentimes, a woman will know the truth in her heart for months before she builds up the courage to have that difficult conversation with her husband. If you are nearing that point, it is time to start planning for the …

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What Divorce After 50 Means For Your Retirement

The National Center for Family and Marriage Released a surprising study that showed divorce rates between adults 50 and older have doubled between 1990 and 2010. Now, 1 in 4 divorces in the United States is between couples over 50. On some level, this is good news. It means that the lower stigma of divorce …

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From Two Incomes to One – What’s Going to Change After Divorce

One of the biggest benefits of marriage is that it often increases a couple’s financial stability as they combine their incomes and enjoy the savings of shared costs. In fact, in 2014, the average married couple filing taxes jointly reported an income of $117,795. Compare that to single, unmarried individuals who reported an income of …

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How to Talk to Your Children About the Financial Realities of Divorce

You want to give your children everything their hearts desire, but after a divorce, your financial situation is likely to face major strains. While you were married you were able to take your children on nice vacations each year, buy them designer label clothes, pay for personal music or sports lessons, and afford a special …

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Five Unique Challenges of a “Gray Divorce”

If you are over the age of 50 and have decided that it’s time to finally unshackle yourself from the old “ball and chain,” you are not alone. In fact, you are part of the gray divorce boom. Even as divorce rates across the United States decline, your age group is bucking the trend. Baby …

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What Does a Certified Divorce Financial Planner Do?

Divorce is an emotional rollercoaster, but at its core, it is also a financial transaction. You are not only unwinding your emotional life, but also your financial partnership. Considering that women often face a significant loss in their standard of living after divorce (while the average man enjoys increased wealth), your financial future after divorce …

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How to Improve Your Credit Score Before a Divorce and Why It’s Important

After your divorce, your credit score can go a long way toward making your transition a little easier or a lot more difficult. Your credit score will come into play if you want to refinance your home to get your ex-husband off the mortgage or if you want to rent an apartment after you’ve moved …

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Five Things You Need to Know About Filing Your Taxes After a Divorce

Taxes!!  (Anyone hear the Jaws theme suddenly start playing in the background?) If you are either in the process of getting divorced or got divorced last year, then you may be facing a totally different tax situation than you are used to. Take care! You don’t want to accidentally lose out on some big new deductions you weren’t …

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What If We Can’t Sell Our House After a Divorce?

QUESTION My husband and I bought an aging farmhouse in rural Ohio at the top of the market. Almost ten years later, housing prices in our area still haven’t bounced back up. We’re underwater, and there are big repairs we could never afford to make, which will make it even harder to sell. There’s no …

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How to Get the House in Your Name After a Divorce

If you want to keep your house after your divorce, you are taking on a big financial challenge! If you are like most Americans, your mortgage represents your largest monthly expense, and now instead of splitting it between two incomes, you’ll have to find a way to shoulder it all on your own. Still, many …

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Should You Keep the House If You Divorce After 60?

You have an emotional connection to your home, especially if you have lived there for many years and raised a family within its walls. If you are considering a later-life divorce, you likely won’t have to deal with the difficulty of child custody negotiations. Instead, ownership of the home might be the biggest question you …

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Are You Eligible for Spousal Support (Alimony) After Your Divorce?

When Amber walked down the aisle eight years ago, she thought she was going to spend the rest of her life with Marcus. After their second child came along four years ago, they decided that Amber should leave her job as a product manager to take care of the children full time while Marcus continued …

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Should I Keep the House?

Divorce can shake you to your very foundations. Everything changes, and many people want to cling to the house as the only stability they find in a shifting world.

Whether keeping the house is your best option depends on many different factors. Here are what you need to consider in making that important decision.

Who Gets the Big Toys in the Divorce?

How to Divide Major Assets During Divorce Determining how to split your shared assets in a divorce can be tricky. Our possessions hold emotional value as well as market value. If you and your spouse can’t find a fair and agreeable solution, you could end up draining your funds by fighting for every major possession …

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Five Ways Your Family Can Help You Save Money After Your Divorce

Divorce can be financially devastating divorce for women. Despite our continued push to raise the glass ceiling, the truth is that men are far more likely to be the main breadwinners of the family and that women are more likely to leave the workforce to care for children or the home. This leaves women at …

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Understanding Social Security Survivor Benefits After Divorce

There are huge Social Security benefits women can receive if they were married to their husbands for at least ten years before their divorce. When you reach retirement age, you are eligible to receive benefits equivalent to 50% of your ex-husband’s Social Security benefits if that amount is greater than what you would otherwise receive. …

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Do Women Have to Pay Child Support to Their Husbands?

My husband was downsized from his job six years ago. We’d been paying an arm and a leg for childcare for our two young children, so we made the decision that he would stay home and care for them full time. In the meantime, my career took off. That was great for our bank accounts, …

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Divorce Asset Division: Keep It, Divide It, or Sell It?

When you sit down across the negotiating table with your spouse, the two of you need to figure out a fair and equitable way to divide your assets. Easier said than done! You’ll both have to process a lot of difficult emotions, and you’ll probably have a lot of questions too. Like, how do you …

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A Step-by-Step Guide to Preparing for Divorce

Your “I do” has turned into “I don’t.” When you walked down the aisle, you envisioned a life of permanent marital bliss, but reality has not been so kind. It is now time to end your marriage. You want a divorce, but how do you go about actually preparing for this huge life change? In …

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