I received a large lump sum settlement from my divorce. How should I invest the money?

Individuals receiving large sums of money -- regardless if it comes after a divorce, an inheritance, or the sale of assets -- should seek the help of a competent money manager, in order to protect the corpus (principal) and earn the maximum amount of return. Interview a number of money managers from various brokerage houses. Seek the help and guidance of friends and family and recommendations from people you trust...read more

How can I ensure my ex-spouse will pay the premiums of the life insurance policy?

The beneficiary spouse should attempt to monitor the policy to confirm that it remains in force. A replica invoice could be requested for the beneficiary ex-spouse. Some carriers may offer an automatic notice when the premium is paid. If not, the beneficiary ex-spouse may simply be able to call a toll-free number some time after the premium notice has been received to authenticate actual payment. This is important because if the policy lapses and the insured ex-spouse is no longer insurable, there may be a substantial problem...read more

What long-term issues should I focus on?

Although your current situation may demand most of your attention, it is important not to lose sight of your long term goals and financial needs, particularly as you negotiate a settlement. For example, your retirement goals are an important and valid concern. The terms of your settlement also may trigger financial changes if you remarry. In the area of estate planning, you should review any will you have drawn as well as any trusts that you established with your spouse...read more

What type of life insurance do you need to protect your alimony or child support obligations?

If you are wondering what type of insurance you should buy to protect your alimony or child support obligations, most experts suggest you buy term life insurance instead of a permanent life insurance policy that accumulates cash value.

Term life insurance premiums are less expensive than permanent life insurance premiums; that is an important consideration, particularly when you are going through an expensive life change such as a divorce...read more

Should I Retain My House?

When it comes to your home, you will likely confront three options: sell the house, buy out your spouse or have your spouse buy you out. The best solution for you will depend on both personal and financial considerations. You may simply not be comfortable remaining in your current home...read more