New Maintenance Rules in 2019

If you didn't know, on January 1st, 2019 the rules changed for how maintenance is taxed and it could impact your maintenance calculations.

Divorce Matters offers a free child support and maintenance calculator app. The app will soon be updated to to reflect how these changes affect maintenance. If you are concerned about how these new rules may affect you, be sure to download the app and keep an eye out for our update, we plan on releasing the update in the next week.

You can download the app by clicking the link in the box above. If you have any questions about the change to the maintenance laws, call us at 720-542-6142 to schedule a comprehensive consultation with one of our attorneys or contact us here .

New Year's Resolutions - Some Words of Advice

Divorce can be hard, especially this time of year. But with the new year comes the promise of new beginnings and a chance to start fresh. It's a great time to resolve to try and work on the things that inevitably get pushed off while the focus is on the holiday season - the things that matter most towards taking care of yourself.

It's different for everyone, but one of the best ways you can take care of yourself is to make sure that you are exercising regularly. Exercise is a natural stress reliever, and taking care of your health should always be a priority. Make it one this year, and try make an effort towards being more active.

Its also important to be sure you are making enough time for yourself. Whether it be taking some time to sit down and read a book you've been meaning to or taking up a new hobby that you've always wanted to, making sure that you take the time to focus on yourself goes a long way towards ensuring that you don't feel stretched too thin. Don't forget to take care of yourself.

Finally, try not to be too hard on yourself when following through with your New Year's resolutions, if you have them. While it is good to have goals for the year, it can end up being detrimental in the end if you don't forgive yourself for not strictly adhering to those goals every once and a while. Choose goals that are attainable and that are healthy for you and then work towards them with the mindset that the only point of the them is get you to a better place.

We hope you had a wonderful New Years holiday, and here's to a great start to 2019!

Budgeting For Life After Divorce

Creating a monthly budget can help you reign in your finances when you are going through a divorce. This can be incredibly helpful to keep you on track and ensure you don’t end up racking up debt on your credit cards. It also helps you keep moving towards your financial goals in a positive direction.

Your first step is going to be evaluating what your total net income is. Many people make the mistake of thinking about their income before taxes as their take home pay when in reality you have to consider that taxes, social security, benefits and retirement savings are taken out of your gross monthly income before your money is deposited into your bank account. The number you want to use is the number you get after all of these things are taken out of your paycheck.

Take a month to track your spending and at the end of the month categorize all of your expenses. Things such as gas, utilities, and your rent/mortgage are necessities that must be accounted for monthly. Things such as groceries and your cable bill can be categorized as adjustable’s. These are items that you could probably economize your spending with if need be. Finally, you have your expendables. These are items such as dinners out or the movies, these are items that you could eliminate and are not necessary spending.

During this month take the time to focus on what your financial goals are. Do you want to contribute to your retirement fund? Are you trying to pay off a credit card? Do you need to save for a down payment for a new home? Answer these questions for yourself so you know how to prioritize your spending and your budget.

Now you can go in and see after your necessities how much extra money you have left to spend. Here you can make adjustments to your list of expendable items first and then work towards lowering your adjustable’s as well so that at the end of the month you have enough left over to put towards your financial goals. By making these adjustments to your budget and sticking to them you are able to move steadily in the right direction.

This newsletter is for informational purposes only. Nothing in this newsletter should be taken as legal advice and receiving this newsletter does not constitute an attorney client relationship.