Divorce Decisions Can Create Long-Term Financial Consequences
Divorce can bring emotional stress—and financial decisions made too quickly can have lasting consequences. Asset division, especially when real estate is involved, is more complex than it may appear. The “Henssler Money Talks” hosts address a question involving divorce, home equity, and family planning: What should you consider before transferring ownership of a house to an adult child?
New Social Security Identity Verification Rule: Are You Affected?
Starting April 14, some people must visit a Social Security office in person to verify their identity before claiming benefits or changing direct deposit info. We break down what you need to know, who it affects, and how to avoid long wait times and potential scams.
Debt After Death: What Happens to Debt When Someone Dies?
Losing a loved one is difficult, and dealing with their financial matters can add stress to an already emotional time. Fortunately, in most cases, you are not personally responsible for their debts.
How Living in a Community Property State Impacts Married Couples’ Taxes
Did you know that community property laws can impact how you and your spouse file taxes? From income division to special tax rules, understanding these laws is crucial for accurate tax planning.
Untangling the Tax Maze: Who Claims the Kids After Divorce?
Divorce or separation brings many challenges, including deciding who gets to claim the kids on their taxes. From custodial parent rules to Form 8332 and tax credits, understanding the IRS guidelines is key to maximizing benefits and avoiding mistakes
Minimize a Surviving Spouse’s Estate Tax: The Benefits of the Portability Election
We break down Form 706 United States Estate (and Generation-Skipping Transfer) Tax Return and the portability election, a key feature that allows a surviving spouse to utilize their deceased spouse’s unused estate tax exclusion. Learn how this can save your family millions in estate taxes, the qualifications, special filing rules, and common complications when preparing the form.
Avoiding Costly Mistakes: Managing an IRA Post-Separation
Director of Research Nick Antonucci, CVA, CEPA, is joined by Managing Associate K.C. Smith, CFP®, CEPA, and Associate Giuliana Barbagelata, CFP® to advise an investor who recently split from her partner and knows nothing about her IRA—how much she’s contributed, what she’s invested in, and what she can do with the account.
Avoid Financial Isolation: A Plan for Surviving Spouses
The “Henssler Money Talks” hosts advise a couple preparing for one spouse to die. They cover the importance of using a records organizer, titling accounts, Powers of Attorney, and including the spouse in meetings with their trusted advisers.
Death, Taxes, and Paperwork: Filing a Final Tax Return
Chief Investment Officer Troy Harmon, CFA, CVA, is joined by Senior Associate Michael Griffin, CFP®, and Jessie Thomas, CPA, Tax Manager with Henssler CPAs & Advisers, to recommend actions an investor and his son can do when filing the final tax return for his deceased wife.
New Year, New Finances: Navigating the Financial Waters of Divorce
The “Henssler Money Talks” hosts advise a couple who have decided on a divorce and are in the process of unwinding 20 years of combined finances and assets.