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Divorce can be hard on your emotions and your wallet.Between lawyers, accountants, court fees, mediators, psychologists and buying and furnishing a new home, the bills can easily add up when splitting assets and negotiating children."You are already in a stressed mental state and have to put up with a legal process that moves very slowly," says Randy Michel, family law and estate planning attorney in College Station, Texas.To avoid coming out of a divorce in debt, once you start the proceedings, don't spend money you don't have, says Greg Ortiz, owner of law firm Ham & Ortiz. Create a budget and stick to it. As you go through the process, there are ways to save money, here's how to do it:Skip CourtGoing to court isn't the only way to get divorced and should be a last resort, says Randy Kessler, founding partner of law firm Kessler & Solomiany, adding that mediation or collaborative procedures are the two cheapest ways to get a divorce.Mediation can also give you more control of the out...
Dear Dave,My daughter is 14, and she was recently offered a steady weekend modeling job. Do you have any advice on how to handle the money she earns?CynthiaDear Cynt...
No. 1: Countdown to retirement plan the transitionAs life transitions go, retirement ranks way up there among the most challenging, both financially and emotionally....
When you say "yes" to tying the knot, you're doing more than joining hearts and lives, you're also joining finances. Gulp. For better or worse, if you don't communic...
Pamela H. and her husband lived in another state, so when a couple right around the corner from her 83-year-old mother took a neighborly interest in her mom, it seem...
Life Insurance Do You Need A Fee-Only Insurance Consultant?Looking for clarity before you commit to a complex whole life or universal life insurance plan? Or wonderi...
If you've got debt and die tomorrow, don't assume it will disappear. Chances are, it will eat into the assets you may be planning to leave your heirs and may even wi...
Ernst & Young partner Elda Dire says that getting married is beneficial for estate planning .
My uncle and I were different in many ways, but we shared a love of travel. After he died last March, I learned he had bequeathed me the one thing I would really app...
Signs Life Insurance Can Be Tapped For CashThere are two basic types of life insurance: term plans, which provide coverage for a set number of years and usually offe...
Abe Ashton on what you should think about so your plan is ready the day you retire
This scenario is very familiar to boomers: a couple, married 30-plus years, with three great kids, maybe some grandkids, living in a beautiful home and nearing retir...
Dear Bankruptcy Adviser,My dad passed away, and we cannot afford to pay the mortgage on a home he bought five years ago as a second home. Our mom is alive but has de...
When investors unloaded their shares in Hewlett-Packard Co. last year, the computer giant's rank-and-file did the opposite. They bought nearly four times as much sto...
Dying is generally an unpredictable event, but planning for your passing can make it easier for everyone. That is, unless estate planning goes terribly wrong.Unfortu...
The last thing on the minds of young adults heading off to college is drafting a health care proxy and power of attorney. Once they emerge freshly educated four year...
At a time when some larger Wall Street firms are trimming training programs to cut costs, Raymond James Financial Inc is bulking up its plan to develop the next gene...
If your parents' home has been paid off, your only obligation if you inherit the property is to pay the property taxes and homeowners insurance until you sell it. Bu...
Google (NASDAQ:GOOG) jumped into the estate planning business Friday with its announcement of its new Inactive Account Manager" tool .The new tool gives users the o...
It may seem like a quick and easy solution to add the name of an adult child to one or more of your bank accounts if you anticipate needing help managing day-to-day ...
