Peaceful Divorce

March 2009 Blog Posts (5)

Transfer of Property Incident to Divorce: Tax Benefit

Many of us have worked on cases where the ultimate property settlement was hampered due to lack of liquidity. This often occurs in families where the most significant asset is either a closely held business or real estate.



Often one of the parties requests that the ultimate disposition of these non-liquid assets be finalized some time in the future when the closely held business or real estate interest is sold. He or she further posits that the real value of these assets will only be… Continue

Added by Sue K. Varon on March 30, 2009 at 1:47pm — 1 Comment

Sensible Steps for Divorced and Stepfamilies

Last Thursday night, March 26, 2009, I presented a tele-class about issues related to re-coupling after divorce. Susan Epstein of Parenting Powers asked some great questions and contributed a stepfamily story of her own.



Below are a few of the things I talked about:



1) How fairy tales, books, and movies inaccuracy depict step families (AKA blended families).



They either portray the stepfamily as one in which they overcome many problems and then live "happily… Continue

Added by Judy M. Graybill on March 30, 2009 at 1:00pm — 2 Comments

How To Save $37,500 On Legal Fees AND Protect Your Co-Parenting Relationship

This will probably surprise you but divorce is NOT a legal issue, it is a personal issue and most people should get a divorce with little or no lawyer involvement. If you want to have the smoothest divorce possible the solution is to resolve your problems outside of court.



1. Avoid Lawyers and Courts as much as possible! The first thing you should know is that our legal system is not child-focused or family-friendly; it is adversarial by nature. The emotional and financial price you… Continue

Added by Belinda Rachman, Esq. on March 27, 2009 at 8:00pm — No Comments

New IRS Rules for Claiming the Child Dependency Exemption

With tax season in our midst, the question of claiming the child dependency exemption is consistently posed by our clients. Here is a recent development that you should keep in mind. As you may know, the non-custodial parent can claim the child dependency exemption, as long as the custodial parent signs a waiver promising not to claim the exemption. This is typically accomplished by the use of IRS Form 8332 (which was revised in January 2009.) Recent amendments to IRS regulations provide that a… Continue

Added by Sue K. Varon on March 17, 2009 at 3:00pm — 4 Comments

Divorce 360 Reviews "Happily Divorced!"

The mega-divorce site, Divorce 360, has reviewed founding member Cynthia Tiano's book and audio program, "Happily Divorced! Secrets of the Win-Win Formula". Here is what they had to say:



"Cynthia Tiano was once considered a "killer" as a divorce attorney. She was respected by fellow attorneys and feared by their clients, who worried what they'd lose when they faced her in divorce court. It wasn't until her own divorce that she began to wonder about her tactics.



"I… Continue

Added by Cynthia Tiano, Esq. on March 4, 2009 at 5:00pm — No Comments

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

21st Century Parenting Plans

I remember when the default custody arrangement had one parent as the custodial parent, and the other parent was known as the “Disneyland parent.” They had their children every other weekend, and maybe once during the week for dinner. Today it is more common to see joint parenting time consist of one week on, and one week off or “two-two-five-five” time,…See More
Thursday
Robert D. Bordett, CFP, CDFA posted a blog post

Including a Financial Professional in Your Mediation

Very often, couples who are divorcing amicably, or who have straightforward financial situations, will forgo meeting with a financial professional while they go through mediation. Though this may seem logical on its face, “going it alone” may result in unnecessary hardship and inaccurate calculations.  It is easy to simply look at a tax table today and say “I am going…See More
Jul 30
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

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