Divorce is one of the most painful experiences anyone can go through. In addition to the emotional component, financial issues weigh heavily on the minds of the parties to any divorce. Unfortunately, there are just some things that don’t follow any logic and you just have to know. Here are a few of the most common:
Added by Robert D. Bordett, CFP, CDFA on October 25, 2017 at 4:30pm — No Comments
When I got trained in mediation, we were told that you either did solo mediation (one mediator) or co-mediation (two mediators). Since then, divorce professionals have learned that there are endless permutations of effective methods to mediate. In this post, I describe a few of the arrangements I have encountered in the 30 years I have been doing…Continue
Added by Robert D. Bordett, CFP, CDFA on October 4, 2017 at 12:26pm — No Comments
In January of this year, I was honored to be featured in Stress-Free Divorce: Leading Divorce Professionals Speak. Unfortunately, something happened to me that has been happening all of my life: the book was published giving me credit as Robert B-O-R-D-E-T-T-E. I suppose it’s better than Bordebt, but it still makes …Continue
Added by Robert D. Bordett, CFP, CDFA on September 20, 2017 at 5:05pm — No Comments
In a divorce decree, if any amount of specified money becomes reduced:
Added by Robert D. Bordett, CFP, CDFA on August 31, 2017 at 4:05pm — No Comments
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…Continue
Added by Robert D. Bordett, CFP, CDFA on August 15, 2017 at 5:50pm — No Comments
After divorce, people often forget to take care of a few small but very important details, such as:
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,…Continue
Added by Robert D. Bordett, CFP, CDFA on July 27, 2017 at 6:03pm — No Comments
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…Continue
Added by Robert D. Bordett, CFP, CDFA on July 5, 2017 at 3:30pm — No Comments
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…Continue
Added by Robert D. Bordett, CFP, CDFA on June 7, 2017 at 5:15pm — No Comments
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…Continue
Added by Robert D. Bordett, CFP, CDFA on May 17, 2017 at 3:31pm — No Comments
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…Continue
Added by Robert D. Bordett, CFP, CDFA on April 11, 2017 at 3:30pm — No Comments
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…
Added by Robert D. Bordett, CFP, CDFA on March 23, 2017 at 2:00pm — No Comments
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…Continue
Added by Robert D. Bordett, CFP, CDFA on March 7, 2017 at 4:42pm — No Comments
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…Continue
Added by Robert D. Bordett, CFP, CDFA on February 7, 2017 at 5:15pm — No Comments
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…Continue
Added by Robert D. Bordett, CFP, CDFA on December 29, 2016 at 6:13pm — No Comments
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:
The keynote speaker was Jeff Brend. Jeff is an attorney who…Continue
Added by Robert D. Bordett, CFP, CDFA on November 23, 2016 at 6:00pm — No Comments
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…Continue
Added by Robert D. Bordett, CFP, CDFA on October 27, 2016 at 6:27pm — No Comments
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…Continue
Added by Robert D. Bordett, CFP, CDFA on October 18, 2016 at 3:30pm — No Comments
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…Continue
Added by Robert D. Bordett, CFP, CDFA on September 29, 2016 at 5:30pm — No Comments
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:
Added by Robert D. Bordett, CFP, CDFA on September 1, 2016 at 2:00pm — No Comments
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:
Added by Robert D. Bordett, CFP, CDFA on August 17, 2016 at 2:00pm — No Comments