Marriage_and_divorce.key - accounts • Personal property...

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Family financial issues Marriage, Divorce, Children Family Financial Issues Discuss and list financial questions for you and your partner PRIOR to marriage: Divorce • Why the concern? • Pre-divorce issues • Settlement issues – Assets, Debt, Children, Taxes • Pre Nup? Why the concern? • Standard of Living and Incomes – Growth of single parent households • Child Issues • Job is not the only answer! In the first year after divorce. . Standard of living changes. Men at +42% Women at -73% Pre-divorce • P.O. Box • Establish credit. • Inventory assets. • Choose an attorney. • Choose a financial advisor.
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Fair trade?? Mr. Smith offers the $300,000 house (with $200,000 in equity) to Ms. Smith in exchange for the $200,000 investment portfolio. •A. True •B. False Other settlement issues • Life Insurance • Pensions, retirement
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Unformatted text preview: accounts • Personal property • DEBT! More settlement issues • Children – Child Support – Health insurance – Braces – College – Wedding More settlement issues • Taxes – Who claims the children as dependents? – Who pays? – Who gets the refund? Statement #1 “It can’t happen to me! I won’t be the one to be separated, divorced or widowed. Therefore, I do not need to be prepared.” Statement #2 “I’ll always have someone to rely on. Even if I become divorced, I’ll still have someone to rely on - perhaps Aunt Mickey, my best friend, my nephew, etc….” Other divorce financial issues you have seen: Not just for Hollywood anymore. • When is a pre-nup appropriate? Therefore, • Be prepared. • Plan. • Get informed. • Accept personal responsibility....
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This note was uploaded on 11/11/2011 for the course FCE 238 taught by Professor Boyce during the Fall '07 term at Michigan State University.

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Marriage_and_divorce.key - accounts • Personal property...

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