Many people have taken advantage of health savings accounts. They allow Americans to deduct tax-exempt money from their paychecks and put it away to pay for medical care.
Some marriages aren't meant to last, and they end in divorce. Dividing your property can be one of the most difficult parts of your divorce, especially if you didn't intend for some items to become marital property. Things that you might want to divide include property like your house, bank account, cars, furniture and even artwork. What about artwork that is created by your spouse or yourself? Can you seek compensation for objects that could produce future revenue?
When you get a divorce, one of the things to consider before signing any final settlements is the right to inheritance. Sometimes, there are questions about if you have the right to a part of an inheritance that your spouse received during your marriage, and it's worth looking into, especially if it's a large amount of money or property.
The family home is usually the largest asset that divorcing couples need to deal with. It's also one to which many people feel a deep emotional connection.
With divorce, it's not just your retirement you'll need to worry about. If you have college savings accounts for your child or children, you'll need to account for them and determine what happens to the money. If only one of you was saving money to the account, this could be a particular point of contention. It might also be a concern if you think the other parent wants to take the money for him or herself despite what it's intended to be used for.
If you've decided it's time to get a divorce, then there are a few things you will want to make sure you don't do. Making the wrong decisions now can impact your financial future, so consider these factors before you agree to any settlement.
For decades, research has shown that women are more likely to initiate divorce than men are. One might think that this imbalance would have started in recent years as women have become more independent -- financially and in just about every other way. However, one sociologist found that as early as the 1940s, women initiated two-thirds of marital break-ups.
Divorce comes with many hardships, from starting over to splitting assets you may have shared for years. Here are a few things to think about before you opt for divorce.
Sometimes the financial and property distribution impacts of a divorce can linger long after the final papers have been signed. That's what Raquel Regalado is saying. Regalado, a school board member who is running for mayor of Miami-Dade County, has reportedly been notified by the county appraiser that a lien will be placed on the Miami home that she and her younger brother co-own if she doesn't pay nearly $4,000 in fines and property taxes she owes on the house she shared with her ex-husband.
The issue of what to do with the family home is generally one of the largest financial considerations for divorcing couples, particularly if one spouse wants to continue living there. It may be virtually impossible for that spouse to afford the mortgage and upkeep alone.