News and Commentary

Amy Begnaud is a CERTIFIED FINANCIAL PLANNER™ professional.

Gary Begnaud & Connor Webb are Chartered Retirement Planning Counselor™ professionals.

Amy Begnaud and Gary Begnaud are Certified Divorce Financial Analyst® professionals.

Married couples often decide together that one spouse should be the primary breadwinner while the other stays home to take care of family members.

More women are working and taking charge of their own retirement planning than ever before.

As a woman, you have financial needs that are unique to your situation in life. Perhaps you would like to buy your first home. Maybe you need to start saving for your child's college education. Or you might be concerned about planning for retirement. Whatever your circumstances may be, it's important to have a clear understanding of your overall financial position. That means constructing and implementing a plan. With a financial plan in place, you'll be better able to focus on your financial goals and understand what it will take to reach them. The three main steps in creating and implementing an effective financial plan involve: Developing a clear picture of your current financial situation Setting and prioritizing financial goals and time frames Implementing appropriate saving and investment strategies

What is a qualified domestic relations order (QDRO)? A qualified domestic relations order (QDRO) is a court judgment, decree, or order establishing the marital property rights of a spouse, former spouse, child, or dependent of a pension plan participant with respect to certain qualified retirement plans. Several requirements and restrictions apply.

What are the tax issues related to divorce? If you're separated or divorced, it's important for you to become familiar with certain tax issues. Familiarity with the tax consequences of your financial and personal decisions might cause you to alter your plans in some areas. You should be aware of the tax impact of your filing status, and you should know how a married couple's income and expenses may be divided for tax purposes. You should also be aware of the tax treatment of pensions, alimony, and child support, and you should know the significance of claiming a child as a dependent. Additionally, the tax treatment of property settlements and the redemption of a spouse's stock in a family business should be understood, as should the use of trusts and escrow accounts in divorce proceedings.

How does divorce affect estate planning? Wills for both spouses are often drawn up sometime during the marriage--particularly if there are children involved. When divorce is contemplated, the selection of beneficiaries and executors will likely be revised to reflect the absence of your former spouse.