Law Offices of Randy S. Margulis

If spouses divorce, their 401(k)s and other individual holdings—as well as any jointly held assets, such as a home or bank account—could be divided up as part of the financial settlement.

Divorce and 401(k): What You Need to Know If you and your spouse divorce, your 401(k)—and theirs, if they also have one—could be divided up as part of the financial settlement.

When a family-owned business is involved in a divorce, making sure there is a fair distribution of marital assets, including the business, requires careful planning and the assistance of legal counsel.

How To Divide a Family Business in a Divorce If you're getting divorced and own a family business, it's important to know how to divide it fairly.

If you’re a divorced parent with child custody and want to relocate to another state or region, you must obtain court permission unless the other parent consents to the move. The court must be satisfied that the relocation is in the child’s best interests. A skilled family law attorney can help you make a compelling case.

While the financial aspect of divorce is often overshadowed by the emotional impact, rebuilding finances after the dissolution of a marriage can be an integral part of overall recovery.

How to Have a Financially Healthy Divorce - NerdWallet While divorce can be overwhelming, focusing on a post-divorce plan for your money can help contribute to overall recovery.

There are several financial considerations to keep in mind when going through a gray divorce.

How a ‘Gray Divorce’ Affects Your Finances Divorce always presents financial issues, and that can be especially true later in life. A gray divorce refers to couples who get divorced late in life - usually after 40 years or more of marriage. Also called silver or diamond … Continue reading ->The post How a 'Gray Divorce' Affects Your Financ...

When facing marital strife involving divorce or disputes over children, legal issues can quickly become complex. In these cases, it can be helpful to turn to a family lawyer who can help navigate the court system and represent your interests.

What Is Family Law? While family law typically covers marriage, divorce and custody, it also touches other areas such as real estate and fertility.

Understand what your options are for separating yourself financially from your former spouse so that you can start rebuilding your life post-marriage.

How Credit Card Debt Is Handled in Divorce Divorcing your debts can be challenging, even with a divorce decree.

While a lot of the focus in a divorce goes to dividing assets, figuring out who is responsible for various debts can be just as important.

Will I Be on the Hook for My Spouse's Debt After a Divorce? Divorce is always complicated – emotionally and financially. While a lot of the focus in a divorce goes to dividing assets, figuring out who is responsible for various debts can be just as important. Generally, after a divorce is final, … Continue reading → The post Who Is Responsible for Debt...

Breaking the news about your divorce to your children is tough, but you and your partner can make the situation a little easier by preparing in advance.

5 Ways To Tell Your Kids About Your Divorce Breaking the news about your divorce is tough to begin with, but telling your kids about the same is probably one of the hardest things to do as parents. However, you and your partner can make the situation a little easier to cope with for your little ones by planning it in advance. Here are […] T...

Marital property is subject to division in a divorce. Marital property is typically divided equally (50/50) or equitably, depending on your state’s rules and whether you live in an equitable division or community property state.

In a Divorce, What Is Marital Property vs. Separate Property? It can be a big problem for wealthy couples and those who have been married a long time: What happens when the boundary between separate assets and marital assets gets blurred?

There isn't always an easy solution to dividing your 401(k) assets in a divorce, but you can make the process a little less painful by understanding what your 401(k) plan allows and what your state requires.

How to Protect Your 401(k) During Divorce | The Motley Fool Splitting from your spouse is complicated enough. Understand the implications of splitting a 401(k) in a divorce to protect your retirement savings.

Raising kids with a narcissist is difficult no matter if you're still partnered with the narcissist or separated. Having a family law attorney knowledgeable in high-conflict co-parenting can prove helpful.

Narcissists are terrible parents. Experts say raising kids with one can feel impossible. Mental health experts warn co-parenting with a narcissist can be one of the most challenging undertakings someone can experience.

Your financial lives usually get jumbled together in the course of a marriage. This includes your financial assets, but also your financial debts or liabilities. Division and responsibility for each will be part of the divorce settlement.

What Happens to Debt in Divorce? If you can’t pay it off before all is said and done, there are key steps you can take to ensure that everything gets handled fairly.

Divorce is never going to be an easy situation, but being prepared can help the tough process go more smoothly for everyone involved.

What to Do Before Filing for a Divorce Find out exactly what to do before filing for divorce. These nine steps will help you through this difficult time.

Half of U.S. adults say they're open to signing a prenup, according to new data.

More couples are saying "I do" to prenups, new data says 2023 poll: 50% of U.S. adults at least somewhat support prenup use.

As student loan repayments begin, divorcing spouses need to consider who is responsible for the loan as it has a major impact on the distribution of assets and debt, including any income-driven repayments that might offer a loan discharge or forgiveness.

Student loans: Who is responsible for all that debt in a divorce? Paying off student loans is, of course, a huge problem. But often overlooked is how complicated it becomes when couples are in the middle of a divorce.

Divorce can be an opportunity for personal growth and a chance to create a new, fulfilling life chapter.

Rebuilding Your Life After a Gray Divorce Gray divorce is rising, and recovery is challenging. Here's what to do, and how.

Selling a house during a divorce can be complex, but there are options to consider such as selling outright, selling to one spouse, co-owning, or gifting to family members. Working with experienced professionals is crucial to navigate the process smoothly.

Selling your house during a divorce Selling a house amid a divorce can make a complicated situation even more complex.

Though grief may not always feel pleasant, it's an important part of working through a divorce in a meaningful, healthy way.

Working Through Divorce Grief Regardless of how you feel after the marriage is over, you will grieve. Here is the process of grieving and tips on how to get through heartbreak.

In high-conflict divorces, it's important for parents to prioritize their childrens' well being.

How can parents protect kids during a messy divorce? Here's what experts say. High-conflict divorces can take a toll on kids.

For older couples who decide to split up, divorce can look very different than it might have in their younger years. With gray divorce on the rise, both partners need to understand how to correctly split up retirement plans and other assets.

Dividing Your Assets in a Gray Divorce The closer you are to retirement, the more crucial it is to get it right.

There are a number of reasons you may want to update your beneficiary designations on your investment accounts. Divorce might be one of them.

6 Tips for Managing Your Investments Through Divorce | The Motley Fool There are a number of reasons you may want to update your beneficiary designations on your investment accounts. Divorce might be one of them.

In a divorce, alimony (also known as spousal support or maintenance) may be ordered to be paid by one spouse to the other for a set length of time. Whether you qualify for alimony depends on your financial needs, your ex’s ability to pay and the duration of your marriage. An experienced divorce attorney can advise about your eligibility.

A divorce isn’t just an emotional challenge, it’s a logistical one, too. But while you’re sorting out who gets what, it’s important to make sure that you’ll be able to land on your feet financially and won’t be saddled with your former spouse’s debt.

4 Ways to Protect Your Credit During and After a Divorce - NerdWallet A divorce means splitting financial assets, but credit scores are not shared. Here's how to protect your good credit or build credit in your own name.

Untangling two people’s money is messy. Long before spousal or child support is awarded or your post-divorce budget is in place, you’ll need to prepare your finances for the work ahead.

7 Ways to Ready Your Finances for Divorce - NerdWallet Long before spousal support is awarded or your new budget is in place, using these financial tips will prepare you for the divorce process.

The U.S. Department of Education has established guidelines for completing the FAFSA with divorced parents, and understanding those requirements is essential to receiving financial aid.

How To Fill Out The 2023-24 FAFSA With Divorced Parents | Bankrate Your parents' living situation determines how much you need to fill out.

Many people assume that by moving out and living separate lives, they have ended the marriage legally as well as emotionally. This is not the case, and that can create very serious problems if you don’t formally dissolve a marriage that has effectively ended.

Separation vs. Divorce: How They're Legally (& Financially) Different Marriage is a legal institution as well as an emotional one. It has implications that range from your tax status to debt, contracts, legal rights, medical oversight and much more. So when it comes to ending that marriage, the legal … Continue reading → The post Separation vs. Divorce: Key Differ...

If you're divorced, you may be able to receive Social Security benefits based on your ex-spouse’s work record.

Can You Collect an Ex-Spouse's Social Security Benefits? This Social Security claiming strategy is legit – and it might be a lifeline for you.

Non-custodial parents should note that a child support order remains in effect even if a parent is unemployed. A child support order will only be altered if a parent seeks a modification.

What to Know About Unemployment and Child Support Find out how to handle child support payments when a parent is unemployed, as well as what happens to health benefits when a parent loses a job.

When facing a divorce, your spouse could be entitled to some of your pension. However, how much your spouse will receive varies, as the laws governing pensions in divorce settlements vary by state.

Can My Ex-Spouse Still Come For My Pension? A divorce is an unfortunate time in anyone's life, as it signifies the end of a likely long-term relationship and marriage. However, it's important to understand the financial ramifications of a divorce as you're going through one. So if you're … Continue reading → The post Is My Spouse Entitled...

An experienced family law attorney can explain your rights and responsibilities and help you navigate the divorce process.

How the Divorce Process Works Divorce is hard. Here's a step-by-step look at how the divorce process works, from separations to filing the divorce petition to finalizing the judgment.

Parallel parenting refers to an approach to shared parenting whereby parents interact as little as possible with each other while maintaining their relationships with their children. It's an option for parents who have a really hard time being civil to each other.

What Is 'Parallel Parenting,' Exactly? This controversial parenting style differs from co-parenting in a few ways.

In a divorce, any student loan debt belonging to you that you brought into the marriage will remain yours to pay off (unless your spouse consigned for it). But loans taken on during the marriage can be treated in different ways, depending in part on the laws in your state.

What Happens to Student Loan Debt When You Get Married or Divorced? | The Motley Fool Know the facts before you take any important step -- and protect yourself financially.

One party always pays federal income taxes on alimony payments. If you finalized your divorce before 2019, it is the person who receives the money. If you finalized your divorce after 2019, it is the person who makes the payments.

Do I Need to Pay Taxes on Alimony? Alimony has two important tax statuses. If you finalized your divorce before Jan. 1, 2019, the person who collects alimony pays taxes on this money. This means that the person who pays alimony can claim a full tax deduction for … Continue reading → The post Is Alimony Taxable? appeared first on ...

While there are many changes when separating from your spouse, managing the finances for your shared children can be particularly intimidating. However, there are steps you can take to minimize the financial stress.

How co-parents can stay on the same financial page Are you divorced or splitting up and share a child with your ex-spouse? Make sure you and your co-parent stay on top of the finances with these tips.

46% of divorcees said career choices were the biggest source of conflict in their marriage, according to a new survey.

46% of divorced couples say this was the No. 1 conflict in their relationship—and it isn't money Almost half, 46%, of those surveyed said career choices were the biggest source of conflict in their relationship. Parenting differences came in second at 43%

Divorce can, and will, affect you financially. It's crucial that you anticipate how your personal finances will change during and after a divorce, and prepare accordingly. Amongst other things, your monthly budget will likely shift, since you'll be transitioning from a dual income household to a single one.

7 common ways a divorce can change your personal finances Four financial experts identify what financial pain points to watch out for during a divorce.

It's a myth that only those with significant wealth can benefit from prenuptial agreements. In reality, these agreements cover everything from child support arrangements to who gets what property after the divorce. Prenuptial agreements are beneficial tools for anyone getting married, regardless of wealth or status.

Prenups aren't just for the rich and famous. Here's when to consider one : Life Kit Everyone should consider a prenuptial agreement before getting married, says family law attorney Theresa Viera. Here's how to talk about it with your partner and decide whether it's right for you.

Marriages fail for many reasons. A survey of 1,000 divorced couples reveals several underlying causes that lead to ending a marriage, including adultery, lack of compatibility, lack of family support, a lack of intimacy and financial issues, which can add stress to even the strongest relationship.

Leading Causes Of Divorce: 43% Report Lack Of Family Support Even with the best online divorce services, divorce can be a difficult process. That's why it's important to understand the signs of divorce and some common causes of divorce. Understanding why marriages fail can help you to make your own union stronger if you are married, it can guide you in mak

Workers in certain industries are seeing higher divorce rates by age 30, according to an analysis of U.S. Census Data.

21 Careers That Are More Likely To Lead To Divorce You've heard the statistic before: Half of all marriages end in divorce. Whether that number still holds true is debatable, but for many young married people today, it's their career -- or their...