Q: Will my ex get my inheritance?
A: Without planning, your ex may indeed be able to claim your inheritance is part of the marital estate. Consult Stolberg & Associates for more information.

Q: Will I have to pay taxes when I sell my house?
A: If you hold on to the house for a number of years after divorce, and your profit as calculated by the IRS is more than the current limit of $250,000 for a single person and $500,000 for a married couple, you will probably have to pay capital gains tax when the house is sold. Consult Stolberg & Associates for more information on reducing your potential tax liability.

Q: Should I roll over my part of my ex's 401(k) into an IRA?
A: It depends on what you want to do with the money. If you want to use it right away, you may choose not to roll it over; however, there are tax consequences if you do this, depending on your age. Consult Stolberg & Associates for more information.

Q: Can I keep the house?
A: The real question is, "Should you keep the house?" Consult Stolberg & Associates to evaluate the circumstances in your case.

Copyright © 2011 Sara Stolberg. All rights reserved.
Sara A. Stolberg, a Registered Representative, offering securities through
LifeMark Securities Corp., member FINRA/SIPC, located at 400 West Metro Park, Rochester, NY 585-424-5672.

Certified Financial Planner Board of Standards, Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER® and federally registered CFP (with flame design) in the U.S., which it awards to individuals who successfully complete initial and ongoing certification requirements.