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Entries in Financial Articles (11)


By Lynn M. Vance, CFP

Despite the fact that the net worth of divorcing couples is often split "equally," by a judge, or by the couples and their attorneys themselves, the end result may be a situation where things are not so "equal" years down the road. The husband's financial situation often recovers, and improves, while the wife's situation many times begins a downhill slide into poverty.

The reason . . . Men continue to live on their (increasing) salaries, while women live on their assets, often depleting them well ahead of their later years. Many women have never worked, or have worked at low paying jobs, thereby reducing or eliminating any Social Security Benefits on their own record, or any pension benefits from a company.

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Posted on Saturday, February 24, 2007 at 01:57PM by Registered CommenterSite Administrator in | Comments Off


By Henry S. Gornbein

A little pre-divorce financial planning can go a long way towards making the divorce itself run more smoothly as well as providing you with additional protection. Doing your own homework can also save you money in legal fees. Here are some tips that you might want to download and keep handy:

* MAIL Review all mail coming into your house and make a list of the sender and return address. It is very important to know the addresses of brokerage houses, insurance companies, credit card issuers, banks,. Etc.

* PERSONAL MATTERS Have your mail sent to an address other than the marital home for your privacy and to ensure you receive it. For example, a post office box or home of a close friend or relative. File a change of address notice with the post office.

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Posted on Saturday, February 24, 2007 at 01:55PM by Registered CommenterSite Administrator in , , | Comments Off


By Mark Kohn, CPA/ABV, CVA

There are certain issues that affect the calculation of what is available for spousal and child support that are theoretically unclear. This article will present a few of them, showing the logic behind various positions.

Income or Cash Flow?

There are two schools of thought in this area, but sometimes the two converge.

The first position is that one should look at the income that is earned by the spouses. The second position is that one should look at the cash flow that is available to pay spousal and child support. The following examples will illustrate numerous situations where the differences will be apparent.

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Posted on Saturday, February 24, 2007 at 01:54PM by Registered CommenterSite Administrator in | Comments Off

YOUR MONEY: For Richer, For Poorer, Till Taxes Do Us Part

Written by Julian Block, Detroit Free Press, Thursday, November 7, 1996

Tax planning involves more than just timing the payment of deductibles or the receipt of income to your best advantage. For instance, you need to consider any anticipated change in your filing status for 1996 or 1997. The often overlooked strategy is that the advancement or postponement of the date of a marriage or divorce by a single day at year-end can make a sizeable difference in the amount of your tax tab for both years.

Your marital status as of Dec. 31 usually determines your filing status for the entire year, cautions John Bogdanski, author of "Federal Tax Valuation" (Warren, Gorham & lamont). Therefore, the Internal Revenue Service ordains that you are a married person for all of 1996, though your divorce or legal separation takes place as late as the last day of the year.

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Posted on Saturday, February 24, 2007 at 01:52PM by Registered CommenterSite Administrator in | Comments Off


By Mark Kohn, CPA/ABV, CVA

Unreported income and hidden assets are often alleged in divorce proceedings, with the spouse who is not running the business claiming that unreported income should increase both the spousal support award and the valuation of the family business. In civil litigation, it is often a partner or shareholder that is alleging that someone in his business is hiding income. The process of finding and proving unreported income or hidden assets is often one of the most difficult assignments of a forensic professional, and the costs must be weighed carefully against the potential benefits. However, in some cases, the process is much easier than one might think, as the following case histories illustrate.

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Posted on Saturday, February 24, 2007 at 01:49PM by Registered CommenterSite Administrator in | Comments Off
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