When It Comes to Divorce, Avoid These Very Costly Mistakes

Divorce requires that you make some important decisions, ones where mistakes will cost you either in lower income or in reduced financial assets. For example, is it better to sell the marital home or keep it in exchange for another asset? Or, is it smarter to take the 401(k) or IRA instead of the taxable […]

The Wrong Way to Split an IRA in a Divorce

There are some special considerations for splitting IRAs pursuant to a divorce. Unlike qualified retirement plans, you do not need a qualified domestic relations order (QDRO). However, the split must be addressed by a divorce decree. If an IRA is split before the divorce decree is issued, you can be subject to taxes and penalties. […]

How Advisers Can Help Same-Sex Couples Navigate Legacy Issues

Same-sex marriage is now legal in the US and in many other countries. However, before marriage was legal, same-sex couples may have registered as domestic partnerships in their states. If such couples divorce, they may still be legally bound with respect to debts and estates. Couples should check with their state whether they need to […]

Why You Shouldn’t Date Someone Who’s Bad With Money

When you start dating someone new, do you pay attention to their financial practices? It turns out that poor financial management abilities can be very detrimental to a successful relationship. Try to learn about your partner’s money management philosophy and skills to make an informed decision about your future as a couple. Read more in […]

Understanding How Divorce Affects Your TSP

If you are a federal employee, most likely, you participate in the Thrift Savings Plan (TSP). Like your other financial assets, it will be divided as agreed by you and your spouse or as ordered by the court. In order to divide the TSP, you are required to file a Retirement Benefits Court Order (RBCO) […]