Should I Keep the House After Divorce for the Sake of the Kids?

Getting a divorce might be the right thing to do, but it will have a big effect on your children’s lives, creating uncertainty and possibly triggering a range of negative reactions. To lower the trauma of family change, you may want to stay in your current home, especially if you have primary custody of the kids. According to an article in the New York Times, “psychologists, sociologists and epidemiologists have long recognized that children who move often tend to perform worse in school and have more behavioral problems than those with a firmly rooted picket fence.” If your children have strong friendships and you live in a great school district, is it smart to stay put in the home after a

How to Talk to Children about the Financial Realities of Divorce

You want to give your children everything their hearts desire, but after a divorce, your financial situation is likely to face major strains. While you were married you were able to take your children on nice vacations each year, buy them designer label clothes, pay for personal music or sports lessons, and afford a special private school. These big expenses are no longer possible now that you’re living on a single salary. How can you explain the situation to your children and help them accept a life with less luxury? Negotiate for Your Children During the Divorce It may be possible for you to negotiate on behalf of your children during the divorce to help ensure that they are still able to

Five Unique Challenges of Gray Divorce

If you are over the age of 50 and have decided that it’s time to finally unshackle yourself from the old “ball and chain,” you are not alone. In fact, you are part of the gray divorce boom. Even as divorce rates across the United States decline, your age group is bucking the trend. Baby boomers are now divorcing at the highest rates in U.S. history, with a divorce rate that’s more than doubled from 1990 to 2010. Divorce might offer you the liberation you’ve been craving, but older couples also face unique divorce challenges. When you’ve been together for a long time, decoupling can get a little complicated. Here are five issues that can be extra tricky for divorcing baby boomers: 1. Identify

Can I Get Divorced After 50 and Still Retire on Time?

There is a popular consensus that divorce rates in the United States are sky high and climbing fast, but the truth is that actual rates of divorce have settled over the last decade of so for all age groups…except one. We are in what some experts have called, the “gray divorce revolution.” A study out of Bowling Green State University found that the rate of couples divorcing in their 50s doubled between 1990 and 2010. Today, one in four divorces is between a couple in their 50s. Are you considering a later-in-life divorce? Such a move may offer the freedom you desire from an unhappy marriage, but it will also come with heavy consequences. Whereas young couples who have only been married a few

Five Things You Need to Know About Filing Your Taxes After a Divorce

Here are five important things you need to know before you file your taxes to avoid some major tax pitfalls…and unpleasant correspondence with the IRS. 1. Know Your Tax Filing Status The very first thing you need to know before you start filing your taxes this year is your filing status. Your tax bracket, available deductions, and overall tax bill will be hugely affected by whether you file jointly with your spouse or file separately. If you and your spouse are officially divorced by December 31st of the prior year then you will have to file separate taxes. (If you are the custodial parent of at least one dependent child, you can file as a head of household and receive a much larger standard

How Much Do I Need to Save for a Divorce?

For many women, the realization that a marriage is failing is a long, agonizing road. Oftentimes, a woman will know the truth in her heart for months before she builds up the courage to have that difficult conversation with her husband. If you are nearing that point, it is time to start planning for the next phase in your life. We know that your emotions are probably on overdrive just thinking about divorce, but you’ve got to make a plan for yourself as early as possible so that you won’t have to make difficult life decisions on the fly when events begin moving quickly around you – especially in the emotional chaos that a divorce will create with your spouse and your children. One of the que

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