As complex as divorce is, it can be especially difficult when business assets are involved. Business valuation specialists play a pivotal role in determining the value of a business in divorce proceedings. There are crucial aspects in conducting a business valuation for divorce cases. Starting Point: Financial Statements and Tax Returns Business valuation specialists primarily rely on … [Read more...] about Navigating Business Valuation in Divorce Proceedings
Divorce is a challenging experience that can often come with unexpected costs. While many people are aware of the obvious expenses such as attorney's fees and asset division, there are several hidden costs that are often overlooked. Hidden Cost: Taxes One significant hidden cost is taxes. When dividing assets such as a community property home or a retirement account, tax implications can … [Read more...] about The Hidden Costs of Divorce: What You Need To Know
Starting the divorce process is often full of fear. When couples are going into the unknown and not sure what their future will hold. The party who generates the most income, fears losing money and the one who generates less fears not having enough money to live comfortably and to make it on their own. In traditional litigation, parties are pitted against each other, each trying to be the … [Read more...] about Divorce Fears – Will I Be Able To Make It On My Own?
Business owners often worry that a divorce will ruin their finances and their ability to keep the business afloat. They think they may lose everything and have nothing left for their future. If you are a business owner, a Collaborative Divorce, which works for almost everyone no matter the circumstances, may be the answer you are looking for. A Collaborative Divorce Keeps Private Information … [Read more...] about Why a Collaborative Divorce is Good for Business Owners
The divorce process is always stressful even for couples who agree a divorce is in their best interest. The stress is compounded when there are a lot of assets involved. The one who generates most of the income fears losing a lot of money. The one who generates less fears not getting enough. In an ordinary divorce, couples may own a home, one or two vehicles, and maybe a … [Read more...] about What Makes a High Asset Divorce Different?
When a couple files for divorce, they both have some immediate financial needs they must work out. Their income has been supporting one household and they must figure out how that income will support two households. Even if one of those households becomes a small apartment that one spouse moves into, it still increases the couple’s expenses. California Temporary Restraining … [Read more...] about Financial Needs as You Begin the Divorce Process
Going through a divorce is stressful in many ways. One of the most common stressors in a divorce is financial fear. Both spouses have worries or fears about what the financial future holds for them. Common financial questions each divorcing spouse asks themselves, their attorneys, and financial professionals are: What am I going to walk away with?What am I going to have after … [Read more...] about Common Financial Fears in Divorce
A relatively new issue that is coming up in a divorce is how to divide digital assets. These are non-fungible tokens (NFTs) like bitcoins. If the spouse who has been buying these digital assets reveals the assets as he or she is required to do according to the law, they can be identified and divided equally between the spouses if they were purchased with community property … [Read more...] about Dividing Cryptocurrency and NFTs in a Divorce
Unfortunately, when a couple goes through the divorce process, emotions run high and are often the driving force for running up the costs. Traditional litigation is notorious for taking a long time and being quite expensive. A Collaborative Divorce is less stressful and less costly. Costs of Traditional Litigation In traditional litigation, each spouse has their own private … [Read more...] about Why Does Divorce Cost So Much?
Going through a divorce can play havoc with your finances. Generally, the same amount of money that supported one household must now be divided to support two of them. This often means, at least for a time, each individual’s net worth and household income will be reduced. If a couple can work together in a Collaborative Divorce process, you can establish new financial goals and … [Read more...] about Rebuilding Your Finances After a Divorce
One of the first things that a divorcing couple needs to do is gather your financial information. In the divorce process you will both need to have a complete picture of your financial situation before you can begin to work on a settlement agreement. In a Collaborative Divorce, this step is easier than in traditional litigation because you have the assistance of a neutral financial … [Read more...] about 4 Keys for Working with Your Divorce Financial Professional
A gray divorce is a euphemism for people getting divorced who are over the age of 50. The issues that need to be resolved are different in a gray divorce than in divorces between younger couples. Since there are generally no minor children, the main issue the couple faces is division of assets. Too often, one party may try to hide assets from the other. Financial Issues Facing Those … [Read more...] about Navigating Financial Issues in a Gray Divorce
In a traditional divorce, parents are often battling between themselves about how to take care of the children, both financially and emotionally, when the family is no longer living together in one household. One of our goals with our clients is to assist them with a post-divorce budget that is related to the children in ways that decreases the contention in a divorce and puts the focus on … [Read more...] about Children, Divorce and Money