Divorce Advice for Men | Fathers Rights Divorce | Child Custody

With much of the world experiencing a financial crisis, what has backed the money for all these years?

Financial adviser Dan Danford explains what is backing our currency, the currency of other nations, and why it all doesn't just fall apart when countries face perilous economic issues.

Danford, CFP®, CRSP®, MBA, also addresses why monetary and fiscal policies were created to help in times of a financial crisis.

Question:

My wife and I are getting a divorce, and she is requesting alimony.

I have traditionally provided for the family financially, but my income is a fraction of what it used to be. I currently am dipping into our savings just to offset expenses.

Will the court consider how much of my savings I have depleted to keep our family afloat when it comes to determining alimony?

Financial adviser Dan Danford explains the major differences between a 401k plan and an IRA.

In this edition of Money Made Easy, Danford, CFP®, CRSP®, MBA, of Family Investment Center, offers the pros and cons of both options and which one might be better for you and your family.

Question:

Do child support laws allow a closed child support case in one state to be opened in another state where there is a higher age of emancipation?

We were divorced in one state (Texas) and my ex-wife and child live in another state (Missouri). The case jurisdiction was never moved to Missouri.

Per Texas child support laws, my child was emancipated earlier this year when she turned 18 and graduated high school so my child support case was closed.

Now my ex-wife wants to continue child support until our daughter is 21, which is the age of emancipation in Missouri if the child is in college.

Can a closed child support case in one state be opened in another state if the age of emancipation is different?

By Jennifer M. Paine

Divorce Lawyer, Cordell & Cordell

As mentioned in part 1 of this divorce article, if you pay child support, then the state government, the federal government, or both, will review your financial accounts using a database called the Financial Institution Data Match (FIDM). 

When clients come to me for financial advice on divorce, they want to know what they can do to avoid the FIDM?

Honestly, when you have child support arrearage, not a lot, at least not legally.