FINANCIAL ASPECTS OF DIVORCE
The holistic approach to divorce in this seminar is unique. Through her experience as both a money counselor and a tax accountant, Lu Bauer is able to weave together a discussion of all the important financial aspects of divorce, not only the technical ones. Money issues are the primary precipitating factor in divorces today. This makes it important for those entering this passage in their lives to pay close attention to the money dynamics in their lives and relationships. This is a time to learn, to change, and to come through this experience in a more empowered relationship to the money in their lives.
This seminar was first produced for a videotaped series by The Maine Centers for Women, Work and Community (formerly Maine Displaced Homemakers Program). The Balancing Act offers this program with up-to-date accuracy for sponsorship by organizations working to empower their constituents as they move through this life transition. Topics covered include:
- MONEY DYNAMICS IN RELATIONSHIPS
- A. Differing financial backgrounds, belief systems and financial agendas
- B. Moneyblindness, shame, fear, control and power
- C. Lack of knowledge or money management abilities
- D. The money connection with addictions
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- OUR MONEY MANAGEMENT CONFIDENCE AND COMFORT LEVEL
- A. Are you ready to handle your finances?
- B. What help do you need now?
- C. What money beliefs and attitudes are influencing you now?
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- THE TAX ISSUES - KNOWLEDGE EQUALS POWER AND MONEY!
- A. Filing Status -Joint, Separate, Single or Head of Household
- B. Dependency exemptions for the children
- C. Alimony - taxable to recipient, deductible by payer
- D. Child Support - not taxable or deductible
- E. Legal Fees - generally not deductible - except tax advice and fees for getting alimony
- F. Items to split from last year's tax return
- G. Items to split from the current year
- H. Estimated tax payments and withholding
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- THE PROPERTY SETTLEMENT - WATCH THE LIQUIDATION VALUE
- A. Valuing myself - What do I deserve? What am I worth?
- B. What will be fair? What were the agreements & expectations?
- C. Tax implications of properties selected for settlement
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- FACING THE REALITY OF MY FINANCIAL SITUATION
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