Tags |
|
|
Links |
|
|
Answer Upon - Divorce - Protect Your Financial Future
In his essay, "Quality", written in 1911, the great writer, John Galsworthy, recounts the tale of two brothers. Shoemakers with their own shop somewhere near the end of the 19th century, they exemplify the issue of quality in Mr. Galsworthy's mind. They knew each customer. They made patterns of the customers' feet, cut the shoes to fit, had the customer try the shoes, and then adjusted the shoes as necessary to each customer's satisfaction, offering to take the
• Alimony and/or Child Support Payments: Consider including a life insurance policy in your settlement. Life insurance will replace this stream of income if your ex-spouse should die.
Recently, I met a colleague whose divorce was settled five years ago. After reviewing his settlement, I recalculated his earnings, using the CDFA’s process, and found his income was grossly overstated due to the calculation methods used by the judge and attorneys involved. In addition, I found that no consideration was made as to the tax implicatio
The new vision of IT.Today, business competition is no longer company vs. company but supply chain vs. supply chain. A supply chain is a network of suppliers, factories, warehouses, distribution centers and retailers, through which raw materials are acquired, transformed, produced and delivered to the customer. A supply chain is a dynamic process and involves the constant flow of information, materials, and funds across multiple functional areas both within
Unfortunately, despite these high statistics, many people are not prepared when divorce comes knocking at their doors.
While divorce attorneys are experts at interpreting Family Law, they often don’t excel in the field of finance. For many individuals, the financial ramifications of divorce remain the most intimidating and potentially devastating aspect of an ending a marriage.
A Certified Divorce Financial Analyst (CDFA) is an expert in examining the financial issues in divorce. They explain the financial aspects and help empower you to make educated decisions through the proceedings.
You don’t have to be a high flying executive with millions of dollars to be concerned. Anyone who owns a home, a retirement account, a 401k, stock options/warrants, investment portfolio, etc. struggles with the question “Will I get my fair share” or “Do I have enough to live off of?"
Here are the some things to consider in safeguarding your finances and to prevent you from making costly mistakes during a divorce.
• Consider Tax Implications: A stock portfolio divided down the middle is not always equal. The embedded gains and losses of the assets should be calculated in determining an equitable division.
• Calculate Total Compensation: Today many individuals are compensated by various means; salary, bonuses, stock options, stock grants, deferred compensation, etc. Be sure to look at everything in computing total income. Often this number differs by what is stated on the W-2 or tax return.
• Value of Pension Accounts: Taking the account value from the most recent statement from your pension may not always reflect the true assessment. Make sure to have a calculation performed in order to establish the accurate value.
• Keeping the House: Consider the mortgage payments, the property taxes and the cost of maintaining the home. Will these expenses fall within your budget, or will it leave you house poor? Make this decision based on a budget analysis, not on your emotions.
• Dividing Retirement Accounts: Before dividing retirement accounts, assess whether or not you need cash because you might be eligible to make an early withdraw from the plan without paying the usual 10% IRS penalty. In addition, make sure a Qualified Domestic Relations Order is completed before the divorce is finalized, otherwise, if your ex-spouse were to die, it may be difficult for you to receive any of the retirement benefits.
• Alimony and/or Child Support Payments: Consider including a life insurance policy in your settlement. Life insurance will replace this stream of income if your ex-spouse should die.
Recently, I met a colleague whose divorce was settled five years ago. After reviewing his settlement, I recalculated his earnings, using the CDFA’s process, and found his income was grossly overstated due to the calculation methods used by the judge and attorneys involved. In addition, I found that no consideration was made as to the tax implication
I remember when I was a child and I heard the legendary speech by John F. Kennedy where he made the statement “Ask not what your country can do for you, ask what you can do for your country.” In this was a message of patriotism, of selflessness that was to be admired and emulated.Today it seems that some Chambers of Commerce are asking this same level of commitment from their members. To illustrate this I will tell you a true story.Around the first of
You don’t have to be a high flying executive with millions of dollars to be concerned. Anyone who owns a home, a retirement account, a 401k, stock options/warrants, investment portfolio, etc. struggles with the question “Will I get my fair share” or “Do I have enough to live off of?"
Here are the some things to consider in safeguarding your finances and to prevent you from making costly mistakes during a divorce.
• Consider Tax Implications: A stock portfolio divided down the middle is not always equal. The embedded gains and losses of the assets should be calculated in determining an equitable division.
• Calculate Total Compensation: Today many individuals are compensated by various means; salary, bonuses, stock options, stock grants, deferred compensation, etc. Be sure to look at everything in computing total income. Often this number differs by what is stated on the W-2 or tax return.
• Value of Pension Accounts: Taking the account value from the most recent statement from your pension may not always reflect the true assessment. Make sure to have a calculation performed in order to establish the accurate value.
• Keeping the House: Consider the mortgage payments, the property taxes and the cost of maintaining the home. Will these expenses fall within your budget, or will it leave you house poor? Make this decision based on a budget analysis, not on your emotions.
• Dividing Retirement Accounts: Before dividing retirement accounts, assess whether or not you need cash because you might be eligible to make an early withdraw from the plan without paying the usual 10% IRS penalty. In addition, make sure a Qualified Domestic Relations Order is completed before the divorce is finalized, otherwise, if your ex-spouse were to die, it may be difficult for you to receive any of the retirement benefits.
• Alimony and/or Child Support Payments: Consider including a life insurance policy in your settlement. Life insurance will replace this stream of income if your ex-spouse should die.
Recently, I met a colleague whose divorce was settled five years ago. After reviewing his settlement, I recalculated his earnings, using the CDFA’s process, and found his income was grossly overstated due to the calculation methods used by the judge and attorneys involved. In addition, I found that no consideration was made as to the tax implicatio
Whereas the previous article 'Why Can't We Stay On track' looked at the dangers of digressing and losing focus due to the reluctance of some team members to move forward, this article looks at the team dynamic almost from the opposite perspective - rushing to completion which can be equally damaging if not managed effectively and kept in check.However, let's deal with the 'realists' and 'sceptics' first...Just Do It!
• Calculate Total Compensation: Today many individuals are compensated by various means; salary, bonuses, stock options, stock grants, deferred compensation, etc. Be sure to look at everything in computing total income. Often this number differs by what is stated on the W-2 or tax return.
• Value of Pension Accounts: Taking the account value from the most recent statement from your pension may not always reflect the true assessment. Make sure to have a calculation performed in order to establish the accurate value.
• Keeping the House: Consider the mortgage payments, the property taxes and the cost of maintaining the home. Will these expenses fall within your budget, or will it leave you house poor? Make this decision based on a budget analysis, not on your emotions.
• Dividing Retirement Accounts: Before dividing retirement accounts, assess whether or not you need cash because you might be eligible to make an early withdraw from the plan without paying the usual 10% IRS penalty. In addition, make sure a Qualified Domestic Relations Order is completed before the divorce is finalized, otherwise, if your ex-spouse were to die, it may be difficult for you to receive any of the retirement benefits.
• Alimony and/or Child Support Payments: Consider including a life insurance policy in your settlement. Life insurance will replace this stream of income if your ex-spouse should die.
Recently, I met a colleague whose divorce was settled five years ago. After reviewing his settlement, I recalculated his earnings, using the CDFA’s process, and found his income was grossly overstated due to the calculation methods used by the judge and attorneys involved. In addition, I found that no consideration was made as to the tax implicatio
It’s late Friday afternoon and everyone is packaging up to go home for the weekend except Janette. Her desk is still piled high with all those important assignments. Why does Janette still have work when no one else does? She just can't let go. Others have a life, but she's too busy ensuring her importance to the company and working late. If she has her finger in every piece of the pie it will make her more important? The reality is that she does not impress anyon
• Dividing Retirement Accounts: Before dividing retirement accounts, assess whether or not you need cash because you might be eligible to make an early withdraw from the plan without paying the usual 10% IRS penalty. In addition, make sure a Qualified Domestic Relations Order is completed before the divorce is finalized, otherwise, if your ex-spouse were to die, it may be difficult for you to receive any of the retirement benefits.
• Alimony and/or Child Support Payments: Consider including a life insurance policy in your settlement. Life insurance will replace this stream of income if your ex-spouse should die.
Recently, I met a colleague whose divorce was settled five years ago. After reviewing his settlement, I recalculated his earnings, using the CDFA’s process, and found his income was grossly overstated due to the calculation methods used by the judge and attorneys involved. In addition, I found that no consideration was made as to the tax implicatio
When I was young, I invested $2500 with a fast-talking salesman who convinced me I could have a great income in just weeks. He told me he had racks of earrings in hair salons, gift shops, etc. He said he had 110 just in the Grand Rapids area, and they averaged 13 pairs sold per week. He just ran the route once a week to collect his money.I did the math, as he knew I would. 110 racks times 13 pairs at $5 per pair was $7150 weekly in sales. I knew nothing abou
• Alimony and/or Child Support Payments: Consider including a life insurance policy in your settlement. Life insurance will replace this stream of income if your ex-spouse should die.
Recently, I met a colleague whose divorce was settled five years ago. After reviewing his settlement, I recalculated his earnings, using the CDFA’s process, and found his income was grossly overstated due to the calculation methods used by the judge and attorneys involved. In addition, I found that no consideration was made as to the tax implications when dividing the investment portfolio. This action resulted in an inequitable division of assets, when the intent was for it to be a fair “50/50 split”.
There are always multiple solutions to finding an equitable distribution, and by working with an attorney and a Certified Divorce Financial Analyst, you will get an objective evaluation on your specific situation. More importantly, this will increase your chances of arriving at a fair settlement that fully addresses your long-term financial needs. You will finally have peace of mind in knowing that you have taken the necessary steps in protecting your financial future.
HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.hubyou.info/article/89070/hubyou-Divorce--Protect-Your-Financial-Future.html">Divorce - Protect Your Financial Future</a>
BB link (for phorums):
[url=http://www.hubyou.info/article/89070/hubyou-Divorce--Protect-Your-Financial-Future.html]Divorce - Protect Your Financial Future[/url]
Related Articles:
When to Pay for an Autoresponder
Google AdWords + Squidoo, Equals Killer Traffic - Here's How
Bookmark it:
|