Think about your children for a moment. As YOU get older, your kids begin to be concerned that there might be a mess to sort out when you are gone. They probably find it very difficult to talk about this with you, perhaps because they are afraid you will think they want you to die…. Read more »
Posts Categorized: Finances
Why Do You Need An Estate Plan?- Part One
Many people think that if they are not rich, they don’t need an estate plan. Many more people figure that “things will just work out” when they die. The vast majority of people don’t like to think about dying.Many people think that if they are not rich, they don’t need an estate plan. Many more… Read more »
How is the Monthly Amount of Child Support Calculated?
In California, in the absence of an agreement providing otherwise, child support is calculated by using a “guideline” formula, which takes into consideration the respective incomes of each parent, the percentage of time the child has with each parent, and various other factors that affect an individual’s income or taxes. This formula is based on… Read more »
What Happens to Spousal Support If the Recipient Decides to Live with a Significant Other?
If the recipient of spousal support elects to cohabit with someone with whom he or she is romantically involved, it may affect the recipient’s rights to continue receiving spousal support. If the recipient of spousal support elects to cohabit with someone with whom he or she is romantically involved, it may affect the recipient’s… Read more »
Does a Trust Protect Me From Creditors?
A trust does NOT protect you from creditors. One of the wonderful things about a trust is that it is so very, very easy to deal with after you set it up. There are no formalities to follow, no forms to file, no permission to ask. You DO have to title you assets into your… Read more »
How are retirement accounts divided in a divorce?
As part of the dissolution process, all community property assets are subject to division, including retirement accounts. There are specific orders that are used to divide retirement assets, known as Qualified Domestic Relations Orders (QDROs). These orders generally define how the community property interest in a spouse’s retirement account is calculated, and how the non-employee spouse… Read more »
We’re separating. Who pays the bills?
When couples decide to separate or divorce, it often takes some time to sort out their finances after separation. (Learn more about how long will it take to get divorced?) Sometimes, they still live together and have a lot of joint expenses. Even when they are not living together, they may still have joint debts such… Read more »