Create a new financial plan following a Nebraska divorce

After a divorce, it is important to re-evaluate your finances and put in place a new plan to obtain your financial objectives.

2013-04-27

April 27, 2013 (Press-News.org) Create a new financial plan following a Nebraska divorce

Article provided by Thompson Law Office, PC, LLO
Visit us at http://www.thenebraskalawfirm.com

In a Nebraska divorce, the marital assets are divided equitably between the spouses. In addition to the property settlement, in some cases one spouse may receive alimony, which provides continued support when the economic circumstances of the parties make it appropriate.

When considering whether alimony is necessary, the court reviews the length of the marriage, contributions of each party, including childcare and education, interruption in educational or career opportunities and the ability of each party to obtain gainful employment.

Following a long-term marriage, alimony is common when one spouse gave up employment advancement opportunities or worked part-time to attend to children. Often there is a disparity in income between the parties. As more women earn as much or more than their spouses earn, it is also becoming more common that they must pay child support or alimony.

After the property division, child support and alimony determinations, it is important to re-evaluate your finances and put in place a new plan to obtain your financial objectives.
Creating a new budget

Evaluate your income sources and start considering your fixed expenses. As part of the process to create a new plan, experts recommend opening your own checking, savings and retirements accounts. Change the ownership of any property and vehicles. Close all joint accounts, including credit cards, and refinance any mortgage or vehicle loans you received in the divorce.

Plan to pay down debt. Start with the balance that has the highest interest rate first. Once you have paid off the debts, allocate those same funds to building your savings. Proactively adjusting your lifestyle and budgeting to reflect your new circumstances, will keep you from falling into a debt spiral.
Review insurance policies

Make sure that you change the beneficiary on any life insurance or retirement plans. If you are without health insurance, contact the Human Resources department at your employer to learn about available options and to enroll in a company plan. Divorce usually is treated as a major life event, but you may only have a fixed window of time to apply.

If your employer does not provide health insurance, you may want to price out the cost to purchase temporary health benefits through COBRA. In addition, even though Nebraska Governor Dave Heineman decided against creating a state-run health insurance exchange, Nebraska residents will be able to purchase health insurance through a federal exchange starting October 1.

A review of disability and long-term care policies will also ensure you have adequate protection in the case of an unexpected injury or illness.

Obtaining an equitable property division and seeking alimony are ways to protect your financial future. A family law attorney can review any proposed settlements and ensure that your best interests are protected.

ELSE PRESS RELEASES FROM THIS DATE:

Documentary looks at children's perspective in divorce

2013-04-27

Documentary looks at children's perspective in divorce Article provided by Thompson Law Office, PC, LLO Visit us at http://www.thenebraskalawfirm.com One of the biggest worries for parents going through divorce is how their children will adjust. For children the uncertainty of where they will be living and less time with each parent is frightening. In divorce, the voices of the children can become lost. A new documentary asks children to explain in their own words how they have been affected by the divorce of their parents. The film, scheduled to be released ...

Multiple vehicle accidents on the New Jersey Turnpike cause injuries

2013-04-27

Multiple vehicle accidents on the New Jersey Turnpike cause injuries Article provided by Brenner & Levine, P.A. Visit us at http://www.bllawnj.com The New Jersey Turnpike is notorious for motor vehicle crashes. With the high number of cars and trucks on the roads each day, car crashes are a common occurrence in the state. A single vehicle accident can cause hours-long traffic delays on the turnpike during rush hour. When multiple vehicles are involved, personal injuries and wrongful deaths often result from the ensuing mess that is created. In mid-April, ...

Are workers eligible for work comp benefits after motor vehicle accidents?

2013-04-27

Are workers eligible for work comp benefits after motor vehicle accidents? Article provided by Terry Katz & Associates, P.C. Visit us at http://www.terrykatzandassociates.com When most people consider an on-the-job injury, they likely envision dangerous factory floors with large machinery. Despite these preconceived notions, some of the most dangerous jobs in the country are actually those that require the worker to spend a significant amount of time driving. In fact, among the top 10 deadliest occupations in the United States are truck drivers, sales representatives ...

Estate planning issues for same-sex couples in Florida

2013-04-27

Estate planning issues for same-sex couples in Florida Article provided by Barreto & Romero, P.A. Visit us at http://www.miamiprobate.com In the tumultuous legal and political landscape surrounding the ongoing same-sex marriage debate, Florida's LGBT couples still face a number of estate planning obstacles not shared by their heterosexual counterparts. While not everyone is comfortable discussing or even contemplating the prospect of growing old and dying, it is especially important for same-sex partners to address these issues head on in order to protect the ...

Doctors' protections under Massachusetts "apology" law are limited

2013-04-27

Doctors' protections under Massachusetts "apology" law are limited Article provided by Adler, Cohen, Harvey, Wakeman and Guekguezian, L.L.P. Visit us at http://www.adlercohen.com/ In November 2012, the Health Payment Reform Act went into effect in Massachusetts. Widely heralded by supporters, the new law was intended to help reduce health care costs and improve the quality of health care available in Massachusetts. One of the most highly publicized aspects of the new law, however, may also be among the least understood. Disclosure, Apology and Offer A ...

Auto accidents are second leading cause of traumatic brain injuries

2013-04-27

Auto accidents are second leading cause of traumatic brain injuries Article provided by Gary C. Johnson P.S.C. Visit us at http://www.garycjohnson.com Motor vehicle accidents can happen in the blink of an eye: another motorist glances down at a cellphone, gets behind the wheel after consuming alcohol or merely follows too closely behind another car. Unfortunately, those errors can instantaneously change the course of a person's life, if serious personal injuries result from the collision. One common but severe injury following auto accidents is traumatic brain injuries, ...

Fiscal cliff deal and the estate tax

2013-04-27

Fiscal cliff deal and the estate tax Article provided by Barreto & Romero, P.A. Visit us at http://www.miamiprobate.com The fiscal cliff deal reached in the eleventh hour on January 1st made changes to federal estate and gift tax exemptions and rates. The agreement avoided draconian measures that would have dropped the estate tax exemption to $1 million from $5.12 million per individual and raised the estate tax rate on amounts over the exemption to 55 percent from 35 percent. Fiscal cliff deal makes estate taxes, exemptions permanent The compromise reached ...

Take care on the internet when divorcing

2013-04-27

Take care on the internet when divorcing Article provided by Law Office of Amy L. Gervich Visit us at http://www.divorcelawstlouis.com People who are going through divorce should take care when posting on Facebook and other social networking sites. Postings on these sites are not private, and an inappropriate message or picture could create difficulties. Electronic communications can be used as evidence Two years ago, a poll of attorneys belonging to the American Academy of Matrimonial Lawyers found that they were seeing a dramatic increase in evidence from ...

Bankrupt Virginians learn how to rejuvenate their credit

2013-04-27

Bankrupt Virginians learn how to rejuvenate their credit Article provided by Thomas R. Breeden, P.C. Visit us at http://www.tbreedenlaw.com/ For those who have filed for bankruptcy protection, it might seem as though their financial lives have been upended. However, there is a way to revive one's credit and recharge one's financial well-being. According to Bankrate.com, bankruptcy filers should consider making a plan and setting goals toward getting back to having a sound financial standing and credit score. For example, bankruptcy filers should not seek to borrow ...

Where Did Accolade Global go?

2013-04-27

Accolade Global International is a $17 million capital investment and global media consolidation firm in Nevis, Charlestown. The company works for small and medium sized businesses in these fields, especially in online media, legal consulting, construction and telecommunications. The company was once called Accolade International, but after a merging with Accolade Global—USA, the company became known as Accolade Global International. A few months ago, Accolade Global hired Louis Giglianno as Executive Chairman. Tony Ambrosio holds the Vice-Chairman position, with Talia ...