The Next Chapter

Divorce Resources for Women

‘Alimony’ Category

Is Spousal Support Like a Source Of Income In Divorce?

Share with a friend
 

It often happens that during a marriage the wife sacrifices her career to become a homemaker. In some cases, the husband also sacrifices big career choices for the family. But after a divorce such individuals find it hard to get back into the workforce. Spousal support does exist for the partner who is less well-off than the other partner but can it be a source of income?
Spousal support is a type of financial assistance that is provided to (more...)

How To Be Financially Stable And Secure After Divorce

Share with a friend
 

Divorce rocks a person’s financial stability and security like no other life event. Even if you saw it coming, you may not have made all the steps needed to go from two incomes to one. Settlements are messy and are messier if you have children. Usually, one parent pays child support and that can be a hardship. But child support often doesn’t make up for sharing all of the household expense and debt so the (more...)

How Is Alimony Calculated In California?

Share with a friend
 

In California, the term alimony is referred to as “spousal support.” A court in California may order the higher earner between the couple irrespective of the gender to pay the other party so that the latter can maintain the same lifestyle for a specific time period when they want to end the marriage permanently. However, the law in the state of California also prescribe the a court needs to review several factors to determine and award permanent (more...)

Eight Common Compensation Issues In Divorce

Share with a friend
 

Compensation issues in divorce usually come up in discussions about spousal support or alimony, and child support. While child support can be pretty formulaic with well-established rules for addressing different compensation concerns, spousal support is much more variable and often is not as straightforward as simply taking a number off a pay stub.
Other compensation issues such as stock options and deferred compensation impact division of assets negotiations. These arrangements can be complex and confusing with even the recipient (more...)

Divorce Checklist – What To Do To Prepare for Your Divorce

Share with a friend
 

Divorce is a confusing and complicated process that can last longer than expected at times. While all that is required before filing for divorce is simply to be separated for one year from your spouse, there are numerous other things you will need to do to make sure you are protected. You will have to make difficult decisions in a short span of time. As such, here are some things you need to know or do to make this (more...)

Ten Financial Essentials You Need Know For Your Divorce

Share with a friend
 

Whether or not you’re using attorneys, to get started on your divorce, you will have to gather all of your financial information and share it with your spouse (and vice versa).
Many people, inadvertently skip this step and jump straight into discussions about who’s going to keep the house and how other assets should be divided.
That’s not smart and it can lead to deadlocks and breakdowns in the negotiations. You’ll (more...)

What You Need To Know About The New Tax Changes And Your Divorce

Share with a friend
 

Many people struggle with the financial details of their divorce especially if they weren’t the one managing the household finances but the recent tax law changes mean that it’s especially important for you to ask what you need to know about the new tax law changes and your divorce.
If your divorce was already in process last year and negotiations well underway, these changes may mean going back to the negotiation table before (more...)

What Happens To Your Business In Your Divorce?

Share with a friend
 

If you have your own business and you’re ending your marriage, then you’re going to want to know what happens to your business in divorce.
Probably about half of my clients either have their own business or their spouse is self-employed and there’s a huge variety in what those businesses look like. I’ve seen blogs that are strictly a side-job that probably cost more to run than the revenue they generate, (more...)

The Impact of 2018 Tax Code Changes on Alimony

Share with a friend
 

From the moment the bill came to public light up until when it was passed into law, the Tax Cuts and Jobs Act (TCJA) has taken many residents of North Carolina by surprise. This due to the uncertainties and confusions caused by the tax code changes for 2018 and beyond.
The new Tax Cuts and Jobs Act, which was signed into law in December 2017, will greatly affect alimony going forward because the payer will no longer be able (more...)

What Happens When Your Former Spouse Files For Bankruptcy?

Share with a friend
 

By Gerald A. Maggio, Esq.
When you go through a divorce, it can be both financially as well as emotionally painful. Moreover, if your former spouse suddenly files for bankruptcy, things can be even more stressful for you as there is a possibility that your financial stability can get greatly affected.  Divorce, as well as bankruptcy, may have a great impact on your financial position in various ways based on the new circumstances of your ex-spouse. Check out (more...)