Center for Divorce Mediation & Alternative Dispute Resolution, Inc.

05/16/2024

**Coming Attractions**-We're Retiring July 1

As it's said, to everything there is a season and for us, that means that we will be closing Center for Divorce Mediation and Alternative Dispute Resolution on July 1, 2024. Over the 35 years we have been mediating, we have greatly enjoyed helping our clients during a difficult time in their lives. It has been exciting to see Mediation change from a niche option for people divorcing or trying to resolve family disputes into a widely accepted conflict resolution option. Now it's on to the next adventure for us.

04/13/2024

How to Discuss Money Issues and Improve Your Marriage

How many times have you had a discussion about money in your marriage that led to misunderstandings and hurt feelings? In this article, therapists give tips on how to make those conversations productive and much less stressful.

Therapists share the secrets to a drama-free money chat.

02/18/2024

A New 401K Perk for Some: An Employer May Match Student Loan Payments

Not everyone can save for retirement by contributing to their employer's 401k Plan because they have to put any extra money to repaying their Student Loan. For some lucky employees, employers are starting to put a matching amount into the employee's 401k for any Student Loan repayments the employee makes. Hope you are one of those lucky employees!

Legislation that went into effect this year makes it easier for student loan borrowers to save for retirement while paying down their debt.

01/29/2024

Check Automatically Renewed Annual Bills To Find Savings For Retirement

We all know how hard it is to find the money to put into Retirement accounts. If you're working Part-Time, it can be even harder. A good tip that we also practiced recently, is reviewing your annual charges for things like insurance, cable, and phone to see if your plan can be modified in any way so you can still get the service you need but at a slightly lower cost. Also, the new year is a good time to review those subscriptions you have for streaming, magazines, or apps to see if you still really value each one or can you eliminate any and put that money toward retirement.

Most part-time workers in America are women — leaving them with less access to retirement plans and less money to sock away.

12/29/2023

Remember that 401k You Had On Your Job 3 Jobs Before Your Current Job? If You Don't Roll It Over Before The New Year, Your Former Employer Will Cash It Out If The Balance is Under $1000

Many people have not thought about the 401k on a former job that had only a small balance in it or if they did think about it, they assumed the employer would just let the money keep growing. There's a new law that will allow employers to send you a check if your old 401k has a balance of $1000 or less. You would then have to declare that money as income and pay a tax penalty if you're under age 59. If your old 401k has a balance of between $1001 and $7,000, your employer can rollover the money in the 401k into an IRA of the employer's choosing which may have high fees and deplete the money in the account. So, try to remember whether you have a 401k from that old job and ask the employer to roll over your money into a 401k offered by your current employer or an IRA of your own choosing to avoid the employer doing whatever's easier for them.

In 2024, more low-balance, forgotten 401(k)s and similar retirement plans could be forced into rollover accounts, which don’t benefit their owners. Here’s what to know.

12/16/2023

Do You Know Social Security Benefits are Taxable?

Our older Mediation clients often are concerned about whether they can get Social Security based on their soon to be ex-spouse's income rather than their own if they were the lower earning spouse. What is often overlooked is that the Social Security benefit a spouse receives is not as generous as it may seem at first because all Social Security benefits above a modest annual payout are taxable. It's also important to keep in mind that monthly Medicare Part A premiums are deducted from the monthly Social Security benefit. The article below spells out what to keep in mind when creating a budget that includes Social Security.

When older Americans earn above a certain income level, they are often taken aback to find they owe federal income taxes on their benefits.

11/12/2023

Covenant Marriages: Not Just For the Speaker of the House of Representatives

Do you know that Covenant Marriages exist in Arizona? And despite what people may think, divorce is possible even if the couple has a Covenant Marriage as long as both parties agree to the divorce.

A marriage contract that makes divorce difficult is a way for some couples to protect their partnerships. However, some experts believe that this type of union has both advantages and disadvantages.

11/06/2023

When Senior Couples Disagree About Where To Live: Marital Mediation Can Help

Whether to stay in their current home or move to an independent living or assistant living facility is a conflict that Marital Mediation with a skilled Mediator can resolve. In addition to our Divorce Mediation Services, we offer Marital Mediation.

Often, one half of a senior couple wants to remain in the house they long loved, while the other half sees their future unfolding in a continuing care community.

08/22/2023

Why Older Folks Need to Use Their Credit Cards Sometimes To Maintain A Credit Score

As we get older, some of us try to reduce our debt which includes our credit card balances. Some people even stop using credit cards entirely in an effort to not take on any more debt. It turns out that stopping using credit cards can reduce your credit scores and even older people need health credit scores for things we hadn't even considered. Apparently, independent and assisted living facilities check credit scores to make sure that residents will be able to make their monthly payments. Also, even utilities may check credit scores before opening accounts and providing service. So, using credit cards wisely by paying off the balance each month is a good option for maintaining a credit score.

PERSONAL FINANCE

08/22/2023

New Income Based Student Loan Repayment Plan Is Available

A new repayment option based on the borrower's income is now being offered by the US Government. It's called the SAVE program and can be applied for on-line. It's certainly worth looking at to see if it can save you money if you have a Student Loan through the Federal Government.

The Biden administration has launched a beta application for its new SAVE income-driven repayment plan for student loan borrowers.