4 of Our Best Financial Tips When Preparing for Divorce

Posted by Casey Semenza
February 8, 2017 at 1:20 PM

 

During marriage, it’s normal to split up responsibilities and duties of the household.  Usually, one spouse handles the paying of bills, credit cards and bank accounts.  I know in my own household growing up, my mother handled the finances because she was more financially conscious and stuck to a tight budget.  

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Topics: Getting In Financial Shape

How to Keep the House in Divorce: 4 Must-Know Tips on Mortgage Refinancing

Posted by Jeff Weaver
September 16, 2015 at 11:53 AM

If you’re considering divorce, the first question for most couples is: “What should we do with the house?”


The family home is usually the biggest asset to divide. Plus, it’s more than just property. You may have ties to the neighborhood, your kids are happy in their school, and you’ve invested time, energy and love into creating a home there.


If one spouse decides to keep the house in divorce, refinancing gives you a way to access the equity in the home so one spouse can buy out the other. There are some unique challenges to getting a mortgage during a divorce, but armed with the right knowledge, you can protect yourself financially and do what’s best for your family.

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Topics: Getting In Financial Shape

How to Budget for a Comfortable Post-Divorce Life

Posted by Josyln Ewart
May 12, 2015 at 10:20 AM

When you hear the term budget, do you cringe? Or rejoice? Many of us have an emotional reaction to budgeting. My mother used her budgeting endeavors as a report card. But her grades always ended up below average. This was because, while her arithmetic was A+, her commitment to sticking with her self-imposed budget numbers was not.

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Topics: Getting In Financial Shape

6 Tax Issues You Must Discuss for a Fair Divorce Settlement

Posted by Cris Pastore, Main Line Family Law Center
April 16, 2015 at 9:30 AM

I am always surprised at the number of times that I see divorce settlements, even those written by legal professionals, which fail to contain any tax provisions. Despite this lack of attention, tax issues can often have the greatest impact on the settlement. Divorcing couples need to look at the tax consequences of their settlement from a broader perspective to understand its long-term effect on the family's financial future.


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Topics: Getting In Financial Shape

What to Know to Qualify for a Mortgage in Divorce

Posted by Cheryl Conard
March 12, 2014 at 10:05 AM

Refinancing a mortgage or purchasing a home after a divorce can be challenging. Knowing some basic requirements will help you know what to expect before applying for a mortgage. 

There are very specific guidelines regarding the use of support income (child support and alimony) as income to qualify for a mortgage.  

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Topics: Getting In Financial Shape

Preparing for Divorce? How to Avoid 5 Major Financial Mistakes

Posted by Adina Laver, Divorce and Relationship Coach
April 9, 2013 at 8:50 PM

One of the top three concerns that most people have when facing divorce is finances. Will I have enough to live on? Will I lose everything? Is it possible to maintain my standard of living after the divorce? What I am entitled to if I have not been the primary wage earner? What I am entitled to if I am the primary wage earner? How will we save for our kids’ education with less to go around?

People do not generally get divorced for financial reasons alone, but all divorces have financial implications. Even under the best of circumstances, many individuals and couples have difficulty navigating through financial decisions. In the context of divorce – which is already a highly emotional time – things become even more complicated and can trigger some of the most powerful emotions including fear, mistrust, anger, guilt and resentment.

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Topics: Getting In Financial Shape

The Shocking Cost of Divorce in PA

Posted by Cris Pastore, Esq.
December 4, 2012 at 2:27 PM

The added expense of living in two separate households may be obvious in a divorce case, but have you also budgeted for the cost of hiring a divorce lawyer to go to court?

 

 

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Topics: Getting In Financial Shape

PA Divorce Advice: 6 Ways to Tell if Your Estate Needs an Update

Posted by Cris Pastore, Main Line Family Law Center
September 24, 2012 at 9:50 PM

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Topics: Getting In Financial Shape