Peaceful Divorce

All Blog Posts (261)

Warning! Don’t Violate the Child Contingency Rule!

In a divorce decree, if any amount of specified money becomes reduced:

  1. Upon the happening of any contingency related to the child or
  2. At a time that can be clearly associated with a contingency related to the child, then the amount of the reduction will be treated as child support, rather than alimony. 

    Code Sec. 71(c)(2). Reg.…
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Added by Robert D. Bordett, CFP, CDFA on August 31, 2017 at 4:05pm — No Comments

How to Avoid the 10% Penalty When Taking Money From a Defined Contribution Plan!

Normally, distributions made before a participant attains age 59 1/2 are called “early distributions” and are subject to a 10% penalty tax. The tax does not apply, though, to early distributions upon death, disability, annuity payments for the life expectancy of the individual, or distributions made to an ex-spouse by a QDRO.

The tax Reg (72)(t)(2)(C) states that when you take money out…

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Added by Robert D. Bordett, CFP, CDFA on August 15, 2017 at 5:50pm — No Comments

How Can Divorce Affect Your Auto Insurance?

After divorce, people often forget to take care of a few small but very important details, such as:

  • Joint auto Insurance policies;
  • Amending will and life insurance beneficiaries; and
  • Switching accounts for bills that are on autopay.

In regards to auto insurance and divorce, many couples get discounts due to being tied to their residence or having multiple vehicles. When considering the removal of a spouse from a joint policy,…

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Added by Robert D. Bordett, CFP, CDFA on July 27, 2017 at 6:03pm — No Comments

Getting Divorced? Don’t Forget about Long Term Care Insurance!

Often when people go through a divorce, their emotions are tied up. The questions on their mind are “how does this marriage end?” and “what do I get financially?” When they do think about health insurance, they usually don't consider long-term care insurance (LTCi). Why is it so important for recently divorced or currently divorcing couples to think about long term…

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Added by Robert D. Bordett, CFP, CDFA on July 5, 2017 at 3:30pm — No Comments

The Grey Divorce

Perhaps you’ve heard about the phenomenon known as the “grey divorce” and are wondering what it’s all about. An important study conducted by the Department of Sociology and the National Center for Family and Marriage Research at Bowling Green State University entitled “The Grey Divorce Revolution” addressed this issue. I was attending the Institute for Divorce…

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Added by Robert D. Bordett, CFP, CDFA on June 7, 2017 at 5:15pm — No Comments

Elder Care Mediation

I recently attended a conference for The Academy of Professional Family Mediators in Memphis, Tennessee. One of the workshops I participated in was on elder care mediation, which gave some fascinating insights. A 2001 study, done by Debra B. Gentry, showed nearly 40% of adult children providing care for their parents reported serious conflict with siblings, usually related to a lack of sufficient help from those…

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Added by Robert D. Bordett, CFP, CDFA on May 17, 2017 at 3:31pm — No Comments

Parallel Parenting: Making the Best of a Bad Situation

I very much appreciate working on divorce cases with a team, as it has so much value for clients. Mental health professionals can bring much-needed clarity to very difficult situations. The following article, written by Howard Dructman, PhD and Marsha Schechtman, LCSW, Atlanta Behavioral Consultants, explains how the concept of parallel…

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Added by Robert D. Bordett, CFP, CDFA on April 11, 2017 at 3:30pm — No Comments

Why Do I Have to Prepare a Budget?

We all hate the word budget. How many times have you had a budget that never worked and only made life harder? And when you didn't follow it, did you feel like you failed?

If a budget is done right, it will provide many benefits that are crucial when going through a divorce.

  • A budget is a guideline to…

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Added by Robert D. Bordett, CFP, CDFA on March 23, 2017 at 2:00pm — No Comments

The Difference Between Litigation and Mediation: It's Personal

People have a range of preconceptions about divorce, the law, and the courts. In reality, going before a judge to air your grievances about your soon-to-be ex-spouse is rarely as satisfying as movies and television shows may have you believe. Mediation offers a private, cost-efficient alternative to litigation—but before you choose either venue, there are some guiding principles to keep…

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Added by Robert D. Bordett, CFP, CDFA on March 7, 2017 at 4:42pm — No Comments

The Taxes They Are A-Changing

Time flies when you’re having fun; here we find ourselves in a new year, with new challenges ahead—and of course our taxes are due. So let’s bring you up to date on some tax changes that we know of. (Remember this year could bring other tax changes that we don’t know about at this time).

One big change is that 1099s have to be…

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Added by Robert D. Bordett, CFP, CDFA on February 7, 2017 at 5:15pm — No Comments

Social Security: How Do the New Rules Affect Divorced People?

The Association of Divorce Financial Planners held their annual conference this past October. One of the keynote speakers was Mary Beth Franklin, CFP, who is a contributing editor for Investment News. She spoke about the new Social Security rules and how to maximize benefits. Here is part of her talk relating to divorce:

If married at least 10 years and currently unmarried, you may be able to collect on your…

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Added by Robert D. Bordett, CFP, CDFA on December 29, 2016 at 6:13pm — No Comments

The Association of Divorce Financial Planners’ 2016 Divorce Catalyst Conference

I recently attended The Association of Divorce Financial Planners 2016 Divorce Catalyst Conference, held from October 27-29. There were a number of excellent speakers and interesting topics presented over the three days:



Day One

The keynote speaker was Jeff Brend. Jeff is an attorney who…

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Added by Robert D. Bordett, CFP, CDFA on November 23, 2016 at 6:00pm — No Comments

Self-Executing Modifications: Six Things Everyone Should Know

One of the things I have learned over the years is that I cannot be a Jack-of-all-trades and a master-of-none. In today’s ever-changing world, we need to have connections with professionals in other disciplines and specialties. This is especially true working in the divorce area.

In the past, it was the attorney’s job to…

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Added by Robert D. Bordett, CFP, CDFA on October 27, 2016 at 6:27pm — No Comments

Guest Blogger: Scott Evans Talks About HELOC

In my last blog, I had an article by Scott Evans about ARM Rates. This is a continuation of mortgages.  Scott Evans wrote about Home Equity Line Resets.  

Home Equity Line…

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Added by Robert D. Bordett, CFP, CDFA on October 18, 2016 at 3:30pm — No Comments

Scott Evans: Adjustable Rate Mortgages Set to Skyrocket?

One of the things I have learned over the years is that we cannot be a Jack-of-all-trades and a master-of-none. In today’s ever-changing world, we need to have connections with professionals in other disciplines and specialities. This is especially true working in the divorce area.

I think it is important that we do the same thing and…

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Added by Robert D. Bordett, CFP, CDFA on September 29, 2016 at 5:30pm — No Comments

Why Should I Choose the Collaborative Process for My Divorce?

The simple answer to the question of why you should choose the collaborative process for your divorce is that it preserves the family relationship. Clients that have engaged in the collaborative process have said the following regarding their experience with collaborative divorce: 

  • “The…
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Added by Robert D. Bordett, CFP, CDFA on September 1, 2016 at 2:00pm — No Comments

The Advantages of Mediation

Mediation begins when couples make the decision to divorce, then choose a mediator. Mediation has several advantages, including the fact that divorcing couples remain in control of their own fate, giving them the power to make important decisions concerning their children and their property. Mediation is also:

  • A controlled discussion intended…
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Added by Robert D. Bordett, CFP, CDFA on August 17, 2016 at 2:00pm — No Comments

Are You a Teacher Getting Divorced in Georgia?

In Georgia, teachers’ retirement benefits through the TRS (Teachers Retirement System) are not divisible by law. Divorce decrees have no impact on your TRS account, and the TRS is not subject to Qualified Domestic Relation Orders, or QDROs. TRS funds are also exempt from levy, garnishment, or catchment, and a member of…

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Added by Robert D. Bordett, CFP, CDFA on August 3, 2016 at 4:20pm — No Comments

Children Becoming the Parents of Their Parents

When we were young we thought our parents were indestructible. They played with us in the yard and on the floor. They climbed ladders and would clean out the gutters every fall. As we grew older, we became more indestructible and watched as our parents became more cautious and careful. Then we started having our families and children…

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Added by Robert D. Bordett, CFP, CDFA on July 12, 2016 at 4:14pm — No Comments

Checklist of What to Do After the Divorce

Divorce is a difficult experience to go through. Besides the emotional toll, there are lots of little details you have to remember to take care of. Some of those details include

•Completing any title transfer assets (preferably before the divorce is finalized):

•Automobiles;

•Stock or equity rights in a…

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Added by Robert D. Bordett, CFP, CDFA on June 22, 2016 at 5:00pm — No Comments

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Robert D. Bordett, CFP, CDFA posted a blog post

What About the House?

Going through divorce means dealing with hundreds of details, some more important than others. One detail that merits extra contemplation is how to deal with the marital home.Does one spouse want to keep it because the children still live there? You don't want to disrupt their lives any more than is already happening. What if the children are grown? Do you still need that much of a house?Here are the three most common means of dealing with the house in divorce:Selling the house and dividing the…See More
Apr 24
Robert D. Bordett, CFP, CDFA posted a blog post

Child Support for Special Needs Children

We know that the divorce rate among all couples is about 50%, but there is no question that divorce rates are even higher among parents of children with special needs.Below is an article that was written by Dr. Howard Drutman and Marsha Schechtman, LCSW. In this article, they talk about the considerations that must be understood about the special needs child. In addition to their information, we also have to think…See More
Mar 28
Robert D. Bordett, CFP, CDFA posted a blog post

An Email From the IRS? Don't Believe It

Scam artists have developed a new tactic in cheating taxpayers out of their hard-earned money.Transcript fraud is when taxpayers are lured into opening an attachment that is supposed to be their tax transcript. In fact, the attachment contains malware that will intercept all of your outgoing data, with the intent of capturing account numbers. From there, the thieves withdraw the money and the taxpayer is left without…See More
Feb 21
Robert D. Bordett, CFP, CDFA posted a blog post

2018 Taxes & Divorce: There Is Still Time

If you are getting divorced or just got divorced the last thing on your mind is taxes. It is important to remember that if you got divorced anytime in 2018 (even Dec. 31, 2018), you will be considered divorced for the whole year of 2018. What does that mean for taxes?It could mean a higher tax bill than you thought.  If you are receiving alimony this year it will be taxable to you.  If you are…See More
Dec 28, 2018
Robert D. Bordett, CFP, CDFA posted a blog post

Tax Tips for the Recently Divorced

We are only 4 weeks away from the end of the year. What does that mean for people who have gotten divorced in 2018?It means you have to get ready to file your tax returns for the year ending 2018 by April 15, 2019, or else extend it. Remember, just because you extend it, you still have to pay any tax that you owe by April 15, 2019.If you got divorced in 2017, here are some items you need to think about for tax…See More
Dec 12, 2018
Robert D. Bordett, CFP, CDFA posted a blog post

An Elegant Solution: The Child Support Account

Today I’m pleased to bring you a special guest blog written by my colleague Steve Erickson. In his 35 years of experience, Steve has come up with a novel approach to child support that shifts couples away from being adversarial and toward collaboration. This method is called the Child Support Account, and it was originally proposed…See More
Nov 15, 2018
Robert D. Bordett, CFP, CDFA posted a blog post

Withholding: A Down Payment, not a Tax

In my experience, many people do not know the difference between the withholding amount (the taxes deducted on your pay stub) and their tax liability. All they know is that they don’t have the money. They think they’re square with the government, and are surprised if they owe any amount on top of what was withheld. That’s why I thought it would be useful to review the…See More
Oct 25, 2018
Robert D. Bordett, CFP, CDFA posted a blog post

Divorce & Support Payments – When Can You Use it to Qualify for a Mortgage?

One of the things I have learned over the years is that we cannot be a Jack-of-all-trades and a master-of-none. In today’s ever-changing world, we need to have connections with professionals in other disciplines and specialities. This is especially true with divorce professionals. I think it is important that practitioners have a network of specialists on which to draw. Today I am going to do just…See More
Oct 4, 2018
Robert D. Bordett, CFP, CDFA posted a blog post

Projecting Your 2018 Taxes

Have you thought about doing a tax projection for 2018?Obviously, this isn’t everyone’s cup of tea. However, no one wants to be surprised around tax time. Here’s why you should get a head start on knowing the new tax law and how it will affect you and/or your business in the coming tax year.We are seven months into the New Year. You may not be aware that we have a new tax law that went into effect on December 22, 2017, or that most of the provisions took effect on January 1, 2018.Here are some…See More
Aug 23, 2018
Robert D. Bordett, CFP, CDFA posted a blog post

Mediators: The Swiss Army Knife of Divorce

Today I’m featuring an article by a colleague of mine named Martin Kranitz. Martin, a mediator in Maryland, has obtained certification from the Maryland Council for Dispute Resolution, one of the first organizations to provide mediator certification based on demonstrated performance rather than just education and mediation courses taken.  In this piece, Martin discusses one of the many functions a mediator can play,…See More
Jul 12, 2018
Robert D. Bordett, CFP, CDFA posted a blog post

The Top 3 Reasons to Choose Mediation

As attitudes change about marriage and divorce, mediation has become an attractive alternative to traditional litigation. Still, some people are wary of it. The good news is that the facts support mediation, and in this post I provide a “cheat sheet” to help you persuade a reticent spouse into the process.Control: You and your spouse get to control the speed of the process. You both get to make…See More
Jun 5, 2018
Robert D. Bordett, CFP, CDFA posted a blog post

Things We Don’t Think About When Getting Divorced

Financial issues are a big part of the difficulty of divorce, in part because people don’t realize there are certain contracts that take precedence over divorce decrees. In fact, that’s the number one misconception that people seem to have. Being able to identify financial issues can help take away some of the pitfalls and stresses that can arise…See More
May 31, 2018

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