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Divorce Financial Checklist Part 2

Wednesday, May 13th, 2015 and is filed under Divorce - Blog Category, Uncategorized

Be prepared with our Divorce Financial Checklist! If you’re contemplating a divorce, you’re likely overwhelmed by all of the emotions and uncertainty about the future associated with such a move. However, to get the most for your money and from your lawyer’s time, it’s important to get together all of your relevant financial information before you sit down with your attorney or Certified Divorce Financial Analyst.

Divorce Checklist Part II

Powers of attorney. If you or your spouse have power of attorney for a family member or friend who is ill, incapacitated or otherwise can’t handle his or her own affairs, you’ll need to bring this documentation with you to your meeting with your divorce lawyer. Read More

Why Financial Strength is Crucial in Divorce

Monday, January 19th, 2015 and is filed under Divorce - Blog Category, Financial News

Divorce Financial ServicesTranscending Legal: Why Financial Strength is Crucial in Divorce

Connecting with the right attorney is critical in divorce. But if you have accumulated a significant asset portfolio during your soon-to-be dissolved marriage, hiring a third party financial expert can be just as important. A Certified Divorce Financial Analyst (CDFA) can help you negotiate your financial position and save money in the process. Read More

Divorce and the Family Home: Stay or Go?

Thursday, January 8th, 2015 and is filed under Divorce - Blog Category, Financial Planning Blogs, Uncategorized

Divorce and the Marital HomeWhen considering a divorce and the family home, take your time to evaluate your options. Don’t base your decision on emotions!

When facing a divorce, it’s common for one spouse to express a desire to stay in the family home. This can be for a number of reasons. The spouse may want to minimize disruption in the lives of the children. Or they may simply want the comfort of familiar surroundings as they face dramatic life-altering changes. Under these circumstances, many profound emotional forces can be at play.

Set emotions aside and ask yourself, does it make financial sense to retain the family home? Read More

Navigating the complexities of divorce and taxes

Tuesday, August 12th, 2014 and is filed under Divorce - Blog Category, Financial Planning Blogs

Divorce and TaxesWith the exception of child custody, the distribution of marital property is arguably the most important aspect of a divorce agreement. When considering division of assets, remember that what looks equitable on the surface may not be. One major reason is tax liability.

Typically, any transfer of marital property to one spouse that occurs as a result of a divorce settlement is not taxable at the time of transfer. However, any taxes due after the sale of assets or income earned from investments after the divorce will be paid solely by the spouse who was awarded the asset.

Let’s take a look at two areas of tax liability that come into play: income taxes and capital gains taxes. Read More

Looking for a Certified Divorce Financial Analyst in the Dallas/Fort Worth Area?

Monday, June 16th, 2014 and is filed under Divorce - Blog Category

With our corporate headquarters conveniently located in Addison, Texas, we assist clients in Dallas, Fort Worth, Richardson, Carrollton, Farmers Branch, Plano, McKinney, Garland, Frisco, and the surrounding area.

Certified Divorce Financial Analyst Serving Dallas/Fort WorthAs a Certified Divorce Financial Analyst (CDFA), Cathy DeWitt Dunn discretely provides the financial expertise you need to help you negotiate the best possible divorce settlement. Cathy works closely with your divorce attorney to build a strong financial case that supports both your immediate needs as well as your long-term financial wellbeing. Even if you do not have a divorce attorney, Cathy can provide crucial insight on how various settlement proposals will impact you financially both short-term and long-term. Read More

What You Need to Know About QDROs

Monday, March 31st, 2014 and is filed under Divorce - Blog Category, Uncategorized

what-is-a-qdroOne of the reasons people place retirement funds into qualified retirement plans such as an IRA account is that the funds are set aside pre tax. When you’re going through a divorce, these retirement assets will need to be divided, and you’ll want to make sure that a QDRO is included in the agreement to handle these previously untaxed assets. If you divide a retirement account such as an IRA without a qualified domestic relations order, it can be subject now to taxes and even penalties. Read More

What Does a Certified Divorce Financial Analyst Do?

Thursday, March 27th, 2014 and is filed under Divorce - Blog Category, Uncategorized

certified-divorce-financial-analystIf you’re preparing to divorce, you probably know that you will need an experienced divorce attorney to help you navigate the process. But did you know that you should also enlist the help of a Certified Divorce Financial Analyst? The Certified Divorce Financial Analyst will work closely with your attorney to make sure that the proper asset division strategies are in place and help you get the most out of your divorce settlement. Read More

Valuing Specific Assets in Divorce

Wednesday, March 26th, 2014 and is filed under Divorce - Blog Category, Uncategorized

valuing-assets-in-divorceWhen you’re going through a divorce, you may be dividing a variety of different assets. Each will need to be properly valued to come to a final settlement. Specific assets may be valued differently. Here’s some information on the valuing of specific assets during divorce.

Valuing the Home in Divorce

If you or your spouse do not wish to sell the home and are negotiating an agreement out of court, you can use whatever value determination you both agree is fair. This can be fair market value, original purchase price, or the amount it would take to pay off the mortgage. In court, the judge will likely use current real estate appraisals of the property to determine value. A real estate appraiser will be used as the expert to determine the value, and each party can hire their own appraiser if they wish. Because there are various approaches that appraisers might use to determine value, you’ll want to have an appraiser on your side if you’re arguing your case before a judge. Read More

Business Assets and Divorce

Tuesday, March 25th, 2014 and is filed under Divorce - Blog Category, Uncategorized

business-assets-and-divorceIf you want to make sure that you receive everything to which you’re entitled, you’ll want to learn about business assets and divorce.

A business is treated like any other asset during a divorce. That means that the rules related to community property apply. It also means that you may have the right to a portion of the profits from the business as part of the divorce settlement, even if you haven’t played a role in the creation or running of the business. There are also ways in which you might be entitled to the profits of a business that was started or acquired prior to the marriage. Read More

Finding Hidden Assets During Divorce

Wednesday, March 5th, 2014 and is filed under Divorce - Blog Category

No one wants to believe their spouse would willfully hide assets before or during a divorce, but it happens. In a community property state such as Texas, you’ll want to get a full and clear picture of all the marital assets to ensure an equitable settlement. If your spouse was the one who handled the finances during the marriage, you may be especially in the dark about the state of your assets.

Fortunately, there are ways to find hidden assets to make sure that you’re getting everything to which you’re entitled. Read More

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