Claiming Social Security can be quite confusing, and determining the strategy that will maximize your lifetime benefits can be complicated. If you are or have ever been married, it may seem even more so. Retirement benefits and survivor benefits (available to widows and widowers) can be thought of as two different buckets of money. If […]
The dissolution of a marriage is often a very stressful and challenging process, and decisions on dividing retirement assets can often exacerbate things, as this nest egg usually represents the couple’s largest resource base. And making mistakes when splitting these accounts can result in taxes, penalties and, potentially, an unintended portion of the money going […]
Congress passed the “Tax Cuts and Jobs Act” in late 2017. The legislation can be found on the House Ways and Means website. The Act changes the tax treatment of spousal support (or “alimony”) payments in one important way. Under the new rules, alimony is no longer deductible for the payor, and money received as […]
Springwater’s article on “Financial Mistakes Divorcees Make” was published in the Winter 2017 edition of the Oregon State Bar’s Family Law Newsletter. You can read the article, and the newsletter, here (PDF opens in new window). PLEASE SEE important disclosure information at www.springwaterwealth.com/blog-disclosure/.
Introduction A retirement plan can be one of the largest assets in a marriage. Despite this, retirement accounts are sometimes overlooked during the divorce process, in part because asset division can be complicated and in part because a divorce can happen years before one or both spouses plan to retire. But forgetting to take a […]
One of the most important benefits of the Social Security program is the spousal benefit. This payment is made at retirement to the spouse of the individual who paid into the Social Security system over time. The spousal benefit payment was originally intended to provide some income in retirement for the non-working spouse in a […]
The Institute for Divorce Financial AnalystsTM (IDFATM) has announced that Springwater principal and co-founder Jim Corbeau, MBA, CFP®, CDFA® has completed a specialized educational program in professional divorce analysis and is now a Certified Divorce Financial Analyst®. A CDFA® is an expert on the immediate and long-term financial implications of divorce. Certified Divorce Financial Analysts […]