Divorce, while sometimes emotionally ravaging, can also be financially devastating when not handled appropriately. This is often because property division and other financial matters, such as child support and alimony, are addressed during the marriage dissolution process. Property division can address a number of matters, too, including a marital home, bank and retirement accounts, pensions and personal property such as vehicles, jewelry and even the family dishes.
Parents who are divorcing must learn how to navigate the new parenting relationship and they need to figure out how to help the children. This can be a challenging time for everyone involved. However, there are some ways that you can lessen the difficulties.
Although much of estate planning focuses on the distribution of assets upon an individual's death, part of that process is learning how best to protect those assets during an individual's life so that they can actually be passed down to heirs and beneficiaries. One threat to an estate's financial health is long-term care. The costs associated with long-term care can be exorbitant, leaving an estate severely damaged.
A significant portion of the American population carries student loan debt. This debt is taken on in hopes of bettering one's self and increasing the chances that he or she will find a well-paying job in a field they enjoy. While some of these individuals are able to graduate or leave school with minimal debt that can be easily paid off, others find themselves struggling to make their monthly payments for years or even decades.
Millions of Americans find themselves saddled with debt, oftentimes due to no fault of their own. Trying to find a way to get ahead of this debt can be an overwhelming task. Realistically, many are unable to do so even though they try for years, sometimes even decades to get caught up on past due payments. By waiting to fully address their financial hardship, individuals put themselves at risk of facing long-term financial difficulties and a significant financial toll that is often associated with the stressors of debt.
If you've followed the news at all recently, then you are aware that there is an epidemic of opioid abuse that is taking the nation by hold. While those who abuse illegal and dangerous drugs like heroin can pose a danger to themselves, they can also put their children at risk of physical and emotional harm. To start with, children who live in homes where substance abuse occurs are more likely to be the victims of physical and sexual abuse. But even those children who are not victimized can be negatively affected by witnessing instances of violence within the home.