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August 2017 Archives

What could happen to your 401(k) during divorce?

As part of your employment, you may have received the benefit of having a 401(k) retirement account. You may have found this benefit comforting as you invested money in your financial security during retirement. However, because you now face divorce, you may wonder what will happen to this account during asset division proceedings.

Business owners: Paying yourself a good salary helps in divorce

You own a business. You know that a chief executive officer (CEO) in your position would be paid about $100,000 per year. Your company makes enough, but you don't want to pay yourself so much. You'd rather make $40,000 and put the other $60,000 back into your company.

Make sure your provisions are proper in a prenup

A prenuptial agreement is an important element to any marriage -- and divorce, should it get to that point. However, some people may mistakenly think that prenuptial agreements are only for couples that have a lot of assets. This isn't true. Any couple can utilize the protections offered by a prenuptial agreement, though it obviously is more helpful for couples that have more assets to protect.

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