Avoiding divorce traps

Tuesday July 3, 2007

The Wall Street Journal has listed some traps to avoid: AVOIDING DIVORCE TRAPS • Steps you can take to safeguard your finances during and after a divorce: • Consider other ways to divorce. Litigious divorces can cost tens of thousands of dollars in legal fees and last for years. Opt for alternative ways to reach… Read More »Custom Single Post Header

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Avoiding divorce traps

Tuesday, July 03, 2007

The Wall Street Journal has listed some traps to avoid:

AVOIDING DIVORCE TRAPS

• Steps you can take to safeguard your finances during and after a divorce:
• Consider other ways to divorce. Litigious divorces can cost tens of thousands of dollars in legal fees and last for years. Opt for alternative ways to reach an agreement, such as mediation or collaborative divorce.
• Keep taxes in mind. A stock portfolio split down the middle might not really be equal, if there are embedded losses or gains in the portfolio.
• Don’t be house poor. Many divorcing spouses want to keep their homes for emotional reasons and to provide stability for the kids. But maintaining a house also means mortgage, tax and upkeep expenses.
• Splitting up retirement plans? That involves tricky tax rules, so be sure you have the proper paperwork and talk to legal and tax advisers.
• Update wills, trusts and beneficiary designations on retirement plans and insurance, so your ex doesn’t end up inheriting an unintended windfall.

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Things to Read, Watch & Listen

Forced Marriage

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ACT Government Surrogacy Bill

The ACT Government has today introduced a bill to amend the ACT’s surrogacy laws. The proposed changes are more incremental than fundamental. They include allowing a single person to undertake surrogacy, for the surrogate to be single if needed, a requirement for legal advice and counselling beforehand, a written agreement being required, that traditional surrogacy is… Read More »ACT Government Surrogacy Bill

Planning to resolve: ADR in ART

ADR can help resolve disputes in ART cases. ADR is not limited to mediation and arbitration. Other types of informal dispute resolution can resolve disputes. When assisted reproductive treatment cases go off the rails, they can have the next level of bitterness and volatility. There can be a keen sense of betrayal when things don’t… Read More »Planning to resolve: ADR in ART