Couples often make mistakes when separating and as a result waste a lot of money. Financial experts say there is a way to take stock of your finances and assets when you are ending a marriage.
Here are some tips from Ginita Wall, a certified public accountant in San Diego who specializes in divorce:
1. Don’t [...]
One of the biggest factors couples address in divorce are problems arising from financial difficulties or lack of communication. I just read an article by Gemma B. Allen of the Chicago Sun-Times who states that open communication and collaborative budget planning can help prevent financial woes and the arguments they cause.
In her article, she [...]
Wall Street Journal reporter, Rachel Emma Silverman, included in her article, Divorce: Counting Money Gets Tougher, some interesting tips to avoid financial divorce traps.
Her first tip is to consider other ways to divorce, such as mediation or collaborative divorce, and to avoid litigious divorces. Rosen has an informative page about mediation you can view [...]
According to recent findings by a Harvard Law School study, prenups may actually increase the chances of a successful marriage. The study group said prenups were good because it forced couples to talk about finances and in a way, the prenup acted like premarital counseling.
According to CNN Money, 84% of couples say money causes tension in their marriage and 13% say they fight about money several times a month!
Is it possible to have a business with your ex spouse? Most divorce experts recommend not having one together after you’ve split. But what if your income depends on it? Some suggest having one spouse buy out the other or sell the business and divide the profit.