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Thursday, 26 March 2015
Should I Keep the House?

Whether or not to keep the house may be one of the greatest decisions you need to make during your divorce. Think of it this way, that house was purchased under different circumstances:  for two adults and now there will be one; with greater household income and now there will be less; when you had someone helping with the upkeep and now you will need to pay for more services. It usually does not make good financial sense to keep that house. Your new financial situation will indicate new appropriate housing.

For those who seem willing to jeopardize their future financial stability for the sake of keeping the children in the same house, neighborhood and schools, I would point out that it is not in your children's best interest to have you in financial peril and with all of the stress that comes with it. Further, if things were different, the marriage was in tact, life was wonderful, and you had the opportunity to move to a bigger, nicer, newer home, you wouldn't hesitate to move those kids to a new home, new neighborhood and new school. And you would feel realy good about it. So, re-examine this more objectively and make the decision that is in your, and your family's, best all-around financial interest. 

If the decision to move to new and different housing seems difficult, work through it with your therapist. I also encourage you to have the children speak with a child specialist to discuss all the changes to which they must adapt. Divorce is difficult, but doable, and there is a future to look forward to. You may soon find yourself grateful for the new surroundings and living environment as key to your new life post-divorce.

Posted on 03/26/2015 9:27 AM by Rosemary


Tax Overhaul Targets Alimony

Content of the Tax Cuts and Jobs Act (TCJA) was revealed last week and, as it now stands, alimony discussions will change dramatically. If approved in its current state, on this issue, going forward as of January 1, 2018, no alimony will be tax deductible for the payer, nor taxable to the recipient. This includes all alimony modifications made after January 1. All standing alimony orders will retain their current tax status for payer and recipient. The TCJA is the most sweeping tax reform proposed...

Choosing an Attorney

I am often asked for attorney referrals by potential clients embarking on the divorce process. My usual response is that I am better able to make referrals after meeting with you, understanding something about your situation, what you prefer in the way an attorney will represent you, and getting to know you is a limited way. Even after all that, I will provide at least three names of attorneys for you to interview, assess and make your own best decision. An attorney is not a commodity. This is...

Preparing for Divorce

You have decided this divorce needs to happen. Now what do you do? Prepare yourself. The following are some steps to take before you pull the trigger and set things in motion. Take care of deferred needs like dental work, new eye glasses, replace the tires, fix the roof, etc. Money is going to get tight, real soon, so better to know these things are taken care of. On the other hand, you will need to save some cash for the expenses of the divorce process:  hiring professionals like a financial...