Well, in case you didn’t already know that it costs a lot to feed and house a child (not to mention the activity fees, etc.), here is a sobering poster that details the cost of raising a child. Don’t get too depressed!
Created by: EarlyChildhoodEducation.com
I ran into an article titled “What Does a Divorce Financial Planner Bring to the Table?”. The article is written for a reading audience of professional Certified Financial Planners but for the rest of us it is a helpful summary of what a Certified Divorce Financial Analyst can do for a divorcing person and a divorcing couple.
From the article:
I have spoken to individuals who will not get a divorce because they fear the financial consequences. They find it more appealing to stay in an, at best, unhealthy or, at worst, abusive relationship rather than become a “bag lady” or “bag man.” The recent drawn-out recession is only making things worse as two households struggle to survive on the same dollars that used to support just one.
In comes the divorce financial planner. A divorce financial planner is trained and knowledgeable about your state’s divorce laws as well as personal financial planning. They are fee-only planners who work within the context of the legal divorce process. The most prevalent designation for training is the Certified Divorce Financial Analyst™ (CDFA™). Working with a financial divorce expert can help preserve a family’s finances—which is crucial today more than ever.
Here’s a link to the article “What Does a Divorce Financial Planner Bring to the Table?“
If you’d like to learn more about how to find a Divorce Financial Analyst or how one might be helpful to consult in your divorce, give us a call at Arnold Law and Mediation.
Are you and your grown siblings arguing over your elderly parent’s care? Here’s a great article in the Star Tribune titled “New Sibling Rivalry: Caring for Parents” (see excerpt and link below) about elder care disputes. Arnold Law and Mediation offers services to help your family discuss their options and opinions in a safe and comfortable environment with a neutral facilitator. Sometimes people call this Elder Mediation, but it is really a format where we bring your family together to discuss, share information and ideas and opinions and have the opportunity to clear up misunderstandings and plan for future care and decision making. We have the technological capability to use a conference phone or online services to include far away siblings by phone or video conference. Let us help you lower the level of conflict in your family. Give us a call at 507-786-9999 to learn more.
From the article:
When a parent becomes ill, mentally or physically, or just becomes dependent on help, family members face daunting decisions that might include medical care, finances, power of attorney and myriad logistical challenges.
Experts say communication among the siblings, early and often, is crucial. Talk about decisions before they’re made and keep in mind it’s all about the parents’ well being.
Here’s a link to the article:
I was really interested in the law firm with attorneys Jenna Westby and Allison Marshall called LEGALnudge, because of the law firm name and because of their pricing structure. Most law firms are named after the last name or names of the attorneys who founded the firm, but this name is different! That caught my attention and thought that for Always Family Center I should figure out what the idea was behind this name. After looking at www.legalnudge.com, I was also curious to ask them about their pricing, since they have listed on their website the cost of various services, which is really uncommon in the legal field. They also have a blog on their website. Check out the video and learn something about LEGALnudge, a firm with a little bit different perspective on providing and pricing services in Family Law.
Although I didn’t ask about this in the video, from looking at their website, I noticed that they offer monthly legal clinics.
For more information about LEGALnudge, check out their website at www.legalnudge.com.
I’m happy to report that Child Care Support–which was shut down as part of the Minnesota State Government shutdown–is back in business by court order dated Wednesday, July 13, 2011.
See the relevant article at Minnesota Public Radio, here.
Here’s the Child Care Assistance page on the Minnesota Department of Human Services Website (but I don’t see the news listed here, just basic Child Care Assistance info).
More households are non-married households than married in the twin cities metro according to the census, says the StarTribune. This, on the heals of the Minnesota legislature pushing through a party-vote to put a constitutional amendment defining marriage before the citizens for a popular vote next fall during the 2012 election. Do we have marriage anxiety? Are these two things connected? Does the Republican legislature want to define marriage in the constitution in order to preserve “Christian” marriage. Is a constitutional amendment going to shore up people’s views/attitudes toward marrying in the first place and (possibly) getting divorced? Here’s a quote from the StarTribune article titled “Census, Saying No to Marriage“:
In a switch that highlights enormous changes in the American family, married couples no longer make up the majority of households in the Twin Cities area.
A new release of 2010 state data by the U.S. Census Bureau on Thursday shows that 48.6 percent of households in the seven-county metropolitan area were married couples. That’s down from 50.9 percent in 2000. The rest of Minnesota is not far behind, with 50.8 percent of households made up of married couples.
Thanks to Nicole N. Middendorf (Certified Divorce Financial Analyst) for this post! See her contact info below.
When you get divorced and are taking the house as part of the divorce, there are no tax implications on the sale of the house if you have lived in the house for two of the last five years and profit no more than $250,000 as a single person or $500,000 if you happen to sell as a married couple.
The important thing to know with a house is that a title of ownership of a house is separate from whose name is on the mortgage. You may be told or asked to sign a quit claim deed when the divorce is done. What this does is it takes your name off the house but not off the mortgage. What that means is that you are financially responsible for the mortgage debt but have no ownership interest in the house. You do not want to sign this document if you are not taking the house as part of the divorce until the other party has refinanced. For, if you sign the quit claim deed and your name is still on the mortgage, you have no ownership rights to the house but are responsible for the debt.
When you take the house as part of the divorce you want to refinance the property to get the mortgage in your own name. You can check to see if your mortgage company will put the loan in your name without refinancing but most companies will not. So, you want to refinance and have the other party sign a quit claim deed so that you own the house by yourself and that you owe on the house by yourself.
To decide if you should take the house as part of the divorce is a decision that you make by taking an assessment of your complete financial picture and looking at all the assets and liabilities and by looking at whether you can truly afford the house on a monthly cash flow basis and from a long term maintenance standpoint as well. This is something a Certified Divorce Financial Analyst can help you determine.
Nicole N. Middendorf, CDFA
Certified Divorce Financial Analyst
LPL Financial Advisor
15600 35th Ave North, Suite 101
Plymouth, MN 55447
Marriage and Family Therapy (MFT) can be an important component of caring for your overall health. If you or your family are experiencing issues related to mental or emotional health, the statistics show that Marriage and Family Therapy might be an effective (and wallet friendly) treatment option. Licensed Marriage and Family Therapists diagnose and treat a wide array of disorders including autism, eating disorders, dementia, abuse, divorce adjustment, and grief “within the context of marriage, couple, or family relationships.” Studies show that, among high users of medical care, those who also visited MFTs showed significant reductions in visits for various health reasons and therefore reducing health care costs. See the FAQ section of the American Association of Marriage and Family Therapists for more information.