According to a 2016 study by the American Bar Association, a majority of people who don’t go to a formal advisor for assistance with a civil justice situation neglect to do so because they believe they have “no need for advice” or that such advice “wouldn’t make a difference.” Getting divorced gives you something in common…
Washington is a community property state. This means that any income, property, or debts that a couple acquires during a marriage is assumed to belong to both partners equally. This is the case even if only one spouse purchased the property or actually owes the debt—under the state’s community property laws, all assets and debts…
Dependent Care Flexible Savings Accounts (FSA) allow individuals to keep a portion of their tax-free earnings to pay for dependent care expenses. The Internal Revenue Service allows families to set aside up to $5,000 per year to pay for expenses like daycare or home health care for dependent children or elderly/disabled adults. The $5,000 per…
While no one enjoys paying taxes, having children means that most parents will receive a sizeable income tax return every April. While married parents have the opportunity to claim these tax benefits together, parents who are divorced will have to decide which parent will claim the exemptions and credits offered by the federal government each…
For parents with children, getting a divorce requires each spouse to make multiple decisions about their children’s futures. When working through a divorce settlement with your spouse, be sure that your plan for child support and visitation addresses each of these ten issues before signing any paperwork. #1: Where Will the Children Live? First and…
January is the most popular month of the year for couples to file for divorce. Many people who are considering splitting up wait until after the holidays to file, so that their family Christmas and New Year celebrations are not ruined by the looming shadow of divorce. While getting divorced in January may feel like…
For many couples, one partner is in charge of the finances. For example, the husband may bring home the paycheck, but the wife may balance the checkbook and take care of household bills. This type of financial separation is also common when it comes to filing taxes each year. Often, a husband or wife will…