Get a Smart Divorce Blog

Collaborative Divorce

Posted on May 31, 2016

Collaborative divorce, is it right for your situation? That depends on many factors. A key factor is, the amount of money you want to spend on your divorce. A collaborative divorce is expensive. Plan on spending at least $25,000 if you take this route. It is often far more than this amount. If you...…

Divorce and Paying For College

Posted on August 29, 2016

Divorce and paying for college are topics I routinely discuss with my Nashville and Brentwood, TN clients. But, we discuss far more than just college expenses. There are college search trips, SAT prep classes, professionals to help your child with their essay, application fess and many more you...…

Divorce and Children

Posted on February 27, 2017

Divorce and children are a topic I frequently discuss with clients in my Brentwood, TN office.  I have found it is critical to consider what is best for the children.  If the parents focus on that issue, the parenting plan falls into place.  Is it best for them to be on a 7 days off, 7 days on...…

Divorce and Verifying Numbers

Posted on April 11, 2017

I met with a client in my Brentwood office today and discussed his ability to get a mortgage.  He spoke with a mortgage professional yesterday and that person told him he would qualify for a mortgage.  The numbers din not look right to me.  So, I called the mortgage contact.  They had...…

Divorce Settlements and the Long Term Financial Impact for Both Spouses

Posted on June 18, 2017

A divorce settlement needs to look at the short-term and long-term financial impacts.  In the short term, what can the husband afford to pay in child support and or alimony?  What are the monthly expenses (including taxes) for both spouses and the children?  What amount of alimony does the wife...…

Divorce and Alimony

Posted on August 7, 2017

Divorce and alimony are topics I discuss with clients every day.  It is really very straight forward and is all about the numbers... Attorneys tell me the main issues are how much does one spouse need and what is the other able to pay.  So, it is essential that both spouses have a solid...…

Financial Issues of Divorce

Posted on November 26, 2017

Financial issues of divorce need to be clearly understood by both spouses to ensure a fair settlement.  Think about this... divorce is 45% emotional, 45% financial and 10% legal... Find this suprising?  Perhaps you are new to the world of divorce?  Granted, every case is different but, divorce...…

Divorce Financial Fears in Nashville

Posted on December 17, 2017

Divorce financial fears in Nashville / Davidson County and Brenwood / Williamson county are common.  Having some finacial fears during this time is to be expected because intelligent people understand the stakes are high.  Considering the short and long-term impacts as well as tax consequences of...…

Divorce and How to Spend Your Money on Professional Fees

Posted on January 7, 2018

If you are considering divorce, you will have to decide how to spend your money on professional fees.  For example, a client called my Brentwood office about a month ago and said she needed help understanding her expenses so she asked her CPA to help her.  I asked her what experience her CPA had...…

Divorce and Taxes in 2018

Posted on February 11, 2018

Divorce and taxes is a topic I discuss with clients on a daily basis. The recent tax changes have significant impacts on divorce settlements. While understanding all of the changes can be overwhelming, below are common tax issues I've been explaining to and discussing with clients and their divorce...…

Divorce and Retirement Funds

Posted on March 6, 2018

My Nashville divorcing clients frequently ask questions about dividing retirement funds.  Attorneys tell me marital property including retirement funds are typically divided 50 / 50.  If part of the retirment funds were earned prior to the marriage then, part of the funds are premarital funds...…

Divorce and Liquidating Retirement Funds

Posted on April 5, 2018

Divorce and liquidating retirement funds are frequent topics in my Brentwood and Nashville offices.  If you withdraw money from your individual retirement account before age 59 1/2, you will generally have to pay a 10 percent early withdrawal penalty in addition to income tax on the amount...…

Divorce and Children's Expenses

Posted on May 31, 2018

Divorce and children's expense are a topic that many divorcing couples fail to adequatley address.  Why?  Because they are so distraught and distracted that they are not thinking clearly.  Because they likely have not been divorced before, they don't know what they dont know.   For example, I...…

Divorce and Dividing Stock Options

Posted on July 15, 2018

Divorce and dividing stock options are topics I frequently review with clients in my Nashville and Brentwood, TN offices.  It is important to understand the stock options are tied to the spouse who is emplyed by the company issuing the options and typically cannot be transferred to the other...…

Divorce Mediation and Alimony

Posted on October 4, 2018

Divorce mediation and alimony are topics I review daily with clients in my Brentwood, TN office. It is not a mysterious topic... Attorneys tell me alimony is determined by 16 factors (length of marriage, education of spouses, earning potential, contribution to the marriage etc.) but the two key...…

Nashville Divorce Mediation Process Explained

Posted on November 21, 2018

Nashville divorce mediation typically includes both spouses hiring an attorney. With two attorneys charging $300+ per hour and having two retainers of $3,000+ each, the case starts off expensive and fees increase quickly. Most divorcing spouses do not understand their case will likley not be...…

Divorce and Business Valuations

Posted on December 24, 2018

Getting a family business valued is common in divorces in Nashville. There are three methodologies to value a business - The asset approach (What assets does the business own and what are the values of those assets?), the income approach (How much annual income does the business generate?) and the...…

Divorce and Tax Issues

Posted on January 18, 2019

Divorce and tax issues are topics we frequently discuss with our Nashville and Brentwood clients because the laws are always changing. For example, as of January 1, 2019 the tax laws have changed and alimony is no longer tax deductible to the payer. Another new change is taxes are not owed by the...…

DIVORCE AND ALIMONY

Posted on April 10, 2019

Alimony is a hot divorce topic regardless if you are in Nashville, Brentwood or Franklin Tennessee.  Calculating potential alimony is based on math... What does one spouse need and what is the other spouse able to pay?  Focusing on a very detailed expense worksheet is the best way to determine a...…

NASHVILLE DIVORCE AND MEDIATION FINANCES

Posted on May 18, 2019

If you live in Nashville and are considering divorce or mediation, focus on the finances. Why? Because divorce is 45% emotions, 45% finances and 10% law. You really need to get your finances organized and understood before you consult an attorney. Why? Because attorneys tell me they cannot give...…

BRENTWOOD DIVORCE MEDIATION-COMMON TOPICS

Posted on June 18, 2019

Today, divorce mediation client in my Brentwood office asked me this question, "Do we divide the assets and debts as of the date of divorce or the date we separated?"  Since this is a legal question, I referred them to discuss this with their attorney. But, I also asked them, "What did they think...…

Franklin Divorce Mediator Topics

Posted on July 24, 2019

If you are preparing for divorce mediation in Franklin, Nashville, Brentwood or some other town in TN, you will prepare for mediation the same way.  First, get a list of assest and debts.  Then work on a parenting plan and child support worksheet.  Finally, gather information on your monthly...…

BRENTWOOD DIVORCE MEDIATION AND FISHY FINANCES

Posted on August 20, 2019

My Brentwood divorce mediations often have fishy finances. It is imperative the financial topics be thoroughly understood by both spouses before a settlement can be finalized. For example, I was talking with a husband client today and he said he felt he should pay his wife $50,000 for her share of...…

DIVORCE MEDIATION NASHVIILE - ADDRESS TAX ISSUES

Posted on September 27, 2019

If you are considering divorce mediation in the Nashville area, remember to address tax issues. Since the financial issues of divorce are 45%, it is critical that you pay attention to the numbers. Do not assume your attorney will understand or explain the tax issues to you. Consider such questions...…

EVERY FAMILY IS UNIQUE AND EVERY DIVORCE SETTLEMENT SHOULD BE UNIQUE

Posted on January 20, 2020

Divorce settlements should be as individual as your family.  One size does not fit all or most when it somes to creating a property settelment or parenting plan.  Don't assume the settlement your neighbor or cousin received is what yours should resemble. It is fine to talk with friends about...…

NASHVILLE, BRENTWOOD OR FRANKLIN DIVORCE AND RESTRICTED STOCK UNITS

Posted on February 18, 2020

This week I have had three clients in my Nashville and Brentwood / Franklin offices ask me how to divide RSUs or restricted stock units in a divorce settlement.  So, this blog will focus on RSUs.  An RSU or, restricted stock unit can be given to an employee as part of their annual compensation...…

NASHVILLE DIVORCE AND THE HOUSE

Posted on April 7, 2020

I was meeting with clients in my Brentwood office today and we discussed what to do with the marital residence.  Because they have three children, they would like to keep the house.  But, they could not afford to both have a residence large enough for three children.  So, they came to a...…

MORE ON COLLABORATIVE DIVORCE IN NASHVILLE

Posted on May 26, 2020

Clients in both my Brentwood and Nashville offices have recently told me they want a collaboratie divorce.  When I ask them what that means, they tell me they want to work together with their spouses and agree on a settlement.  Some professionals refer to this as a collaborative divorce while...…

DIVORCE AND PARETNING PLANS

Posted on August 14, 2020

Divorcing parents are frequently concerned about how their child or children will spend time with each parent after the divorce is final.  The document that outlines the time spent with each parent is called a parenting plan.  This plan also covers which parent will pay for the children's health...…

DIVORCE IN TN AND COMMON QUESTIONS

Posted on August 30, 2020

I received a phone call this morning from a man who has been thinking about divorce for about 6 months.  He and his wife have agreed their marriage is no longer working.  They have both reached out to divorce attorneys and were not pleased with the aggressive, take no prisoners approach from the...…

Five Hidden Costs of Keeping the House in the Divorce

Posted on April 27, 2011

As I work with my divorcing clients, I am keenly aware that they are vulnerable. A prime example of their vulnerability is the all too frequent desire to keep the marital home. This is usually the wife and mother who want s to keep continuity for her children. The decision makes sense from an...…

Buying a House During a Divorce - Renting vs Purchasing Your Next Home

Posted on June 30, 2011

Purchasing a Home During Divorce Process I do not encourage my clients to buy a house, condo or townhouse etc. during the divorce or within the first year of the divorce. The reason for this is simple. Research has shown that divorce is the second most emotionally traumatic event you will...…

Why Does TN Child Support End at 18?

Posted on April 29, 2012

If you are divorcing in TN and have children, remember that TN divorce laws state that child support payments will end when a child turns 18, or graduates from high school. If you are receiving child support, just because your child is at college does not mean that expenses for that child are $0...…

Customize Your Divorce Settlement to Meet the Needs of Your Family

Posted on March 27, 2013

If couples hope to achieve a fair divorce settlement that is acceptable to both spouses, thinking outside the box is essential. I've never had the exact same settlement for any of my Nashville clients because each family is unique and so are the solutions to their problems. A settlement that I am...…

Basic Information Regarding a Quit Claim Deed

Posted on November 2, 2012

Many divorces involve selling the marital residence or transfer of it from one spouse to the other. In order to remove a spouse from a property deed post divorce, a quit claim deed must be filed. Your spouse must agree to the transfer. You cannot remove them from the property deed without their...…

Why Separate Credit Cards?

Posted on December 2, 2012

If you are divorcing in Nashville, TN and beyond, you need to understand if you are the primary card holder or just the authorized user for any credit cards you are currently using. You can obtain this information by calling the credit card company directly (their phone number is on the back of the...…

Collaborative Divorce in Nashville, TN

Posted on January 21, 2013

A collaborative practice divorce has been getting some good publicity recently in Nashville, TN. Did you see the article in the Tennessean regarding the collaborative divorce of Bill Frist? This type of divorce has many advantages over a typical litigated divorce primarily because a collaborative...…

DIVORCE AND REFINANCING THE HOUSE MORTGAGE

Posted on September 15, 2020

Today, a divorce client in my Nashville office told me she wants to keep the marital residence and asked me if she should have the mortgage refinanced into her name only.  My answer was... it depends on a few things: 1.  Is the mortgage currently jointly titled with your spouse? 2.  Do you...…