Loans to Family Members and Divorce

Going through a divorce is never pleasant and doing so during a pandemic only adds to this challenging time. But, even as COVID-19 continues to impact people and economies around the globe, the market environment arising from this crisis does offer some opportunities to explore for those facing the financial burden of divorce.

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Home Heartbreak - People Divulge the Home Details of Their Divorce

Life is full of transitions. We all remember moving out of our childhood home. For many of us, it was both a thrilling and absolutely terrifying experience. But possibly, one of the most fulfilling feelings is turning a house into a home—and a family home becomes the hot spot where so many memories are made. So how do you cope when your once happy home is filled with heartbreak? Over 90 percent of people in Western cultures will get married by the time they turn 50, according to the American Psychological Association (APA), but almost half of these marriages will end in divorce. We asked 501 people in the U.S., from ages 22 to 77, how they dealt with their divorce, who kept the marital home, and how they transitioned into a new chapter of life. Keep reading to see how divorced respondents are attempting to pick up the pieces and create happy, healthy homes.

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Can I Change My Estate Plan, Before, During or After My Divorce?

Divorce is complex, emotionally draining, and expensive!  Once complete, individuals often are tired of meeting with lawyers and do not want to take on another legal “to do”.  But the reality is that accidents and deaths occur while couples are in the process of divorce.  If you do not plan appropriately you may find your soon to be ex-spouse making decisions on your behalf or they may receive more of your estate than you would like.

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Books to Read with Your Child About Separation and Divorce

Following is a partial listing of various books specifically for children who are coping with the effects of separation and divorce. Books can help children identify and deal with the loss, anger, fear, and uncertainty that they may be experiencing and can help them understand the situation on their own level. Books can also help parents speak the words and emotions that they may have a hard time expressing clearly.

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Are you Ready for the Unexpected?

Certain events in your life are happy and planned – graduations, getting that job, having a child – and others may be sudden, unexpected and disturbing – as in the case of divorce.  We call these "life's critical events" and they can happen to each and every one of us, albeit not at the same time or in the same magnitude. But the associated financial consequences can be considerable.

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Divorce – A New Financial Beginning

I am sitting across the desk from my recently divorced client, who seems a lot lighter today. At our first meeting last year, her marriage had just broken down. And on that day she expressed raw emotion and pain, coupled with exhaustion and stress. I can only imagine how difficult those early days of the separation were for her. Her daily routine was in complete disarray and she was coordinating schedules for their two daughters while going through the emotional stages of grief and loss. 

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Spousal Dishonesty – Red Flag

When I am called to work out the financials in a divorce case, often the larger reason I am there is to discover the extent of spousal dishonesty. There are often signs that were missed along the way and upon discovery of the affair or the addiction the innocent spouse will say, “Oh yeah, I did notice that……”

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Why I Decided to Focus on ADR

When I got my CDFA® credential in 2011, I thought I would be doing primarily litigation support – until I did some. 

My own divorce was a do-it-yourself divorce which turned out to be a huge mistake. I failed to put enough detail in the final documents to protect myself from my ex-husband’s ultimate bad behavior and ended up returning to court 3 times in the following 6 years.

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Important Things to Consider Prior To Announcing Your Divorce to your Spouse

Divorce is a very emotional and costly process. It can cause dramatic changes in lifestyle, destroy relationships, and leave a family emotionally devastated. Take enough time to carefully consider all aspects before you make a decision that will most certainly change your life. 

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Understanding Spousal Support

In North America, it’s the judge’s place to decide how the marital assets should be divided. By closely examining the income and assets of each spouse, the judge can determine if spousal support should be paid—and by whom. In some cases, the assets may generate sufficient income that either no spousal support is necessary or it can be reduced.

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