Cash Flow Planning for Life - Helping you reach your personal & professional financial goals.

Cash Flow Planning for Life

Helping you reach your personal & professional financial goals.

Thinking about getting a divorce?

Interested in making the proper preparations to protect yourself financially?

Do you want what is in the best interest financially for your family too?

divorce petition
You know divorce is a life-changing event, and you have heard It affects over 50% of couples in the U.S. But understanding all the aspects of a divorce is more overwhelming than you thought.

Without the proper planning, it can be devastating emotionally, mentally, and especially financially. With proper planning, it is possible to move forward and get through it.

If you are working towards a non-contested, respectful and collaborative divorce and need guidance to make that happen, consider these tips from experiences I have had. However, if you are working with a contested divorce, brace yourself, there is no way to “plan” for that.

Although, having everything in order is the first step either way.

Consider reviewing the following checklist as a helpful guideline.
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Divorce is a life changing event that can be financially devastating!

Planning for Divorce

Did you know that over 50% of couples living in the United States are affected by a divorce? Planning for divorce can help make the process go smoother. It allows you…

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#9: Tax Preparation Timing During and After Divorce

Posted by Mark On September 20th

Timing Divorce

This is the ninth installment of “Divorce. What You Need to Think About from a Financial Perspective”which can be downloaded for FREE from makara-assoc.com.

When preparing for tax filing during or after a divorce, the two dates I consider to be the most important are the date divorce petition was filed and December 31 of each year.

Pending divorces can often go on for more than one filing year.

Filing Date

In most states the filing date, by either party, is when you become financially separated. However, this is not true for every asset. Retirement plans are usually marked by the date of distribution and appreciating or depreciation assets (i.e. principle residence). This can be valued once an agreement is reached.

December 31st

December 31st is the last day of the tax year. It is the determining factor in a couple’s filing status. If you are legally married on December 31, you have two options when it comes to filing tax returns.

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#8: Divorce and Tax Preparation

Posted by Mark On August 29th

Financial Documents

This is the eighth installment of “Divorce. What You Need to Think About from a Financial Perspective”which can be downloaded for FREE from makara-assoc.com.

Many issues arise when it comes to going through the divorce process. One of the most difficult financial issues in the initial stages is the impact your divorce will have on capital gains and income taxes.

When filing taxes, you must consider issues such as:

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