December is expected to be a busy month for the nation’s divorce courts. The tax overhaul enacted late last year eliminated the deduction for alimony, but unlike most provisions in the law, this one doesn’t take effect until 2019.
Baby boomers are divorcing at a stunning rate
Looking ahead to the next phase of life can seem pretty dreadful if you can’t stand the person who you’ll be spending it with.
That may be what some boomers are facing. Among U.S. adults ages 50 and older, the divorce rate has roughly doubled since the 1990s, according to a Pew Research Center report. Statistically speaking we’re healthier and probably going to be living a lot longer — possibly 30 years longer — than average retirees once did.
This is why baby boomers are divorcing at a stunning rate
When ‘until death do us part’ sounds like agony(Courtesy Everett Collection) Published: Oct 20, 2018 10:59 a.m. ETBy ANGELA MOORE, SENIOR EDITOR Looking ahead to
Getting divorced? How will you pay for kids’ college
Divorce throws a wrench in many long-term plans, from savings to retirement and beyond. If you’re divorcing and have children, even if they are young, you should also consider the impact the end of your marriage will have on their college plans.
Some states require divorcing couples to address how they will pay for their children\’s college education in their divorce papers. The clause does not require that one or both parents pay for college, but that they come to an agreement about what contributions they will make to higher education for their offspring.
1 in 3 parents will help their kids pay off student loans
One third of parents say that they will help their child pay back some or all of their student loans, according to a recent survey by College Ave Student Loans.
Student loan debt has skyrocketed to $1.5 trillion in the U.S.
Parents should make sure that they\’re balancing their long-term financial goals with helping their children finance higher education, advisors say.
9 Expert Tips When Negotiating an Alimony Settlement
At a certain point, the topic has to be dealt with.The only way to do it successfully is to arm yourself with as much knowledge
9 Expert Tips For Negotiating an Alimony Settlement
Second only to child custody, alimony is one of the most contentious and difficult-to-navigate processes in any divorce. When two people are splitting up, particularly when that split is acrimonious, the last thing either of them wants to discuss is the prospect of giving money to each other. But, the topic has to be dealt with and the only way to do it successfully is to go in armed with as much knowledge as possible.
Early Warning Signs: Impact of Aging on Financial Decision Making
IT IS INEVITABLE that people will see a decline in their financial skills and decision-making ability as they age. No one is exempt: Everyone experiences normal cognitive aging in their later years, which in turn affects various financial skills. The degree of cognitive decline and its effect on specific financial skills varies by individual.
Can I Contribute to an IRA if I Don’t Have a Job?
Most of us do not give it another thought and simply assume we can contribute to an IRA if we meet IRS income criteria. But what if your only source of income is alimony? Guess what – the new tax law changes may just eliminate your only means to save in a retirement account.
What’s the Difference Between Zelle, Venmo and Paypal?
By Judy Heft who offers professional and personal assistant services that are tailored to meet the specific and changing needs of her clients. All services are provided on an accurate and timely basis with complete confidentiality. https://judithheft.com
I thought this explanation was so clear so timely that I asked Judy if I could copy it for you. With full acknowledgment to her unique financial concierge services, here it is!
