Tax Changes and Divorce Planning
Saturday, November 10th, 2018
We’re entering a “new era” of divorce planning because of the Tax Cuts and Jobs Act (TCJA) of 2017. Rose Swanger, CFP®, RICP®, CDFA®, EA explains, “for new divorces that are finalized after Dec. 31, 2018, all alimony payments will be treated like child support payments, which are not deductible. Before, the alimony payor could deduct the amount of their alimony […]
Read More »The Impact of the New Tax Law on Alimony
Wednesday, April 4th, 2018
The new tax law has a tremendous impact on family law because of the change in status of alimony tax payments. Alimony is support paid by one spouse to another as a result of a divorce or separation. Under current federal law and through December 31, 2018, alimony may be a taxable event and is […]
Read More »My source of alimony just retired, what now?
Sunday, October 1st, 2017
Especially in a marriage of long duration, one spouse or the other is often going to be required to pay alimony in futuro – that’s a monthly alimony payment of a specific amount, payable to the other spouse for the indefinite future. The amount of the alimony paid depends on certain factors – you can read about […]
Read More »Why Alimony is the Last Question Answered in a Divorce
Sunday, September 24th, 2017
In a divorce, the Court is required to answer four questions: 1. On what grounds is the divorce going to be granted? 2. How is the property acquired during the marriage going to be divided? 3. How is time with the children going to be split? 4. What ongoing support is going to flow from one party to the […]
Read More »16 Questions that Determine Your Alimony
Wednesday, May 17th, 2017
Getting divorced is one of the biggest financial adjustments for any family, and it is often the case that one spouse is going to have to pay the other spouse some amount of money, called alimony. To determine whether you are going to get any alimony, and if so, what type and how much, the […]
Read More »Top 5 Divorce Myths
Friday, March 10th, 2017
It seems like everyone knows someone who has been divorced and can give “expert advice.” Unfortunately, many of these “pro tips” are not based on current law or any facts at all. Here are the top 5 divorce myths we encounter. 1. The law favors moms getting “full custody.” There isn’t even such a thing as […]
Read More »Military Divorces: What you need to know
Thursday, December 15th, 2016
Usually, the issues in a divorce are simple. However, when one or both parties are in the military, there can be additional issues that complicate matters. For instance, military pensions have special rules for their distribution. The 10/10/10 rule is a principle that says if the parties were married for 10 years, while the spouse […]
Read More »Three Types of Contempt
Monday, October 17th, 2016
So, you have a court order and your ex won’t follow it. Maybe they are keeping you from seeing the kids. Maybe they are behind on their child support. Maybe they won’t sign a document you need. How do you make someone follow a court order? Unfortunately, there is no way for the legal system to […]
Read More »Four Types of Alimony
Monday, September 26th, 2016
There are four types of alimony: Transitional, Rehabilitative, In Futuro, and In Solido. Transitional Alimony Transitional alimony is just what it sounds like. The Court orders the richer spouse to pay the poorer spouse a sum of money, anywhere from 1 time to several years, to help them “transition” from being a married person to being […]
Read More »