Peaceful Divorce

Robert D. Bordett, CFP, CDFA's Blog (117)

What Is a Caucus?

One of the guiding values in mediation and collaborative law is transparency. It comes with the territory when one is trying to establish trust with two different parties. Sometimes an issue may arise that one party may wish not to discuss in front of the other. If they both agree, separate meetings may take place. These meetings are…

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Added by Robert D. Bordett, CFP, CDFA on October 22, 2019 at 4:30pm — No Comments

How Important Is the Budget in Divorce Planning?

I think everyone’s least favorite word is BUDGET. Why don’t we want to hear that word? Think about it: We’re asking ourselves to do something we don’t want to do — or worse yet, someone else is asking us to do it. 

While we might not like them, having a budget does help.…

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Added by Robert D. Bordett, CFP, CDFA on September 18, 2019 at 3:30pm — No Comments

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…

Continue

Added by Robert D. Bordett, CFP, CDFA on August 15, 2019 at 5:44pm — No Comments

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…

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Added by Robert D. Bordett, CFP, CDFA on July 30, 2019 at 5:16pm — No Comments

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…

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Added by Robert D. Bordett, CFP, CDFA on April 24, 2019 at 6:30pm — No Comments

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…

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Added by Robert D. Bordett, CFP, CDFA on March 28, 2019 at 6:12pm — No Comments

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…

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Added by Robert D. Bordett, CFP, CDFA on February 21, 2019 at 6:10pm — No Comments

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…

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Added by Robert D. Bordett, CFP, CDFA on December 28, 2018 at 4:53pm — No Comments

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…

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Added by Robert D. Bordett, CFP, CDFA on December 12, 2018 at 5:00pm — No Comments

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…

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Added by Robert D. Bordett, CFP, CDFA on November 15, 2018 at 6:19pm — No Comments

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…

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Added by Robert D. Bordett, CFP, CDFA on October 25, 2018 at 3:00pm — No Comments

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…

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Added by Robert D. Bordett, CFP, CDFA on October 4, 2018 at 6:27pm — No Comments

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…

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Added by Robert D. Bordett, CFP, CDFA on August 23, 2018 at 4:48pm — No Comments

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…

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Added by Robert D. Bordett, CFP, CDFA on July 12, 2018 at 5:36pm — No Comments

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.

  1. Control: You and your spouse get to control…
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Added by Robert D. Bordett, CFP, CDFA on June 5, 2018 at 6:40pm — No Comments

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…

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Added by Robert D. Bordett, CFP, CDFA on May 31, 2018 at 6:49pm — No Comments

Now What Do We Do?

So you’ve chosen a mediator to work with you and your spouse on your divorce. Where do you go from here?

You can start with what to bring to the first session of the mediation. Most mediators will have a list of all of the documents you’ll need. There is usually also an intake form that asks about each of you, the children, and other information about the marriage.  

In mediation,…

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Added by Robert D. Bordett, CFP, CDFA on April 12, 2018 at 6:30pm — No Comments

How to Select the Right Mediator

The main component of mediation is the mediator. That is why it’s important to make sure you select the right mediator to help you in your unique situation. Many times mediators are chosen by the attorneys, especially in court-ordered mediation — but in private mediation the parties may just look to choose the mediator.

Below is a short list with some items you…

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Added by Robert D. Bordett, CFP, CDFA on March 22, 2018 at 12:31pm — No Comments

Key Provisions of the New Tax Law

As we know the President signed the 2018 tax reform law into effect on December 22, 2017. This is the largest tax code overhaul in more than 3 decades.

Most of the provisions in the TCJA will take effect on January 1, 2018. Most of the provisions affecting individuals are temporary and sunset after 2025, while the majority of the business provisions are permanent.

Most individual…

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Added by Robert D. Bordett, CFP, CDFA on January 11, 2018 at 6:26pm — No Comments

What is Hidden in the New Tax Proposal That Could Change Divorce

Deep in the 429 pages of the House Republican tax bill is a provision with financial consequences for couples getting divorced.

People looking to get divorced and people writing alimony checks would have to pay tax on those payments. Under current tax law, alimony payments are tax-deductible to the party paying and taxable to the party receiving them. Under the new proposal that would end.

Here is the rationale for making these changes: The proposal would…

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Added by Robert D. Bordett, CFP, CDFA on December 6, 2017 at 6:30pm — No Comments

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Latest Activity

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

What Is a Caucus?

One of the guiding values in mediation and collaborative law is transparency. It comes with the territory when one is trying to establish trust with two different parties. Sometimes an issue may arise that one party may wish not to discuss in front of the other. If they both agree, separate meetings may take place. These meetings are called caucuses.Caucuses can be…See More
Oct 22
Robert D. Bordett, CFP, CDFA posted a blog post

How Important Is the Budget in Divorce Planning?

I think everyone’s least favorite word is BUDGET. Why don’t we want to hear that word? Think about it: We’re asking ourselves to do something we don’t want to do — or worse yet, someone else is asking us to do it. While we might not like them, having a budget does help. In divorce planning — whether you are going to litigation,…See More
Sep 18
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
Aug 15
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

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