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 »Defining “Light” in Lightly Contested Divorces
Friday, November 9th, 2018
As an attorney that practices in the area of contested family law issues, I encounter varying degrees of acrimony (or bitterness) between parties. However, there are times when there is minimal acrimony and the parties arrive at a mutual decision that divorce is the best option. This does not mean that the parties agree on […]
Read More »Important Questions for your Divorce Lawyer
Monday, September 17th, 2018
Choosing your divorce lawyer is one of the most important decisions you will make as you proceed through a divorce. There are several things you should ask prospective lawyers, and when you ask them make sure you get a thorough answer. How are retainers and legal fees handled for divorces? You are entitled to a […]
Read More »Who gets the tax exemption for minor children in a divorce?
Thursday, June 21st, 2018
For parents going through a divorce, oftentimes the most difficult work comes into play fashioning a parenting plan to provide custodial periods for each parent. You must also make financial arrangements regarding the minor children that either you agree upon or you place the issues in front a judge or magistrate and the decision is […]
Read More »The Role of the Financial Neutral in Collaborative Law
Monday, March 5th, 2018
As noted in my initial blog about collaborative law, one distinction of a Collaborative Divorce from a tradition adversarial divorce is the role of agreed neutral third parties to assist the parties reach a resolution. One member of the team is the financial neutral. In a collaborative divorce, the parties agree to a financial neutral, […]
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 »Will I incur tax penalties on my spouse’s 401k account?
Sunday, October 1st, 2017
During a divorce action, the parties’ assets and debts are valued and equitably divided either by the Court or by agreement. Two of the largest assets owned by many couples are the marital residence and retirement accounts. One question that is often asked is how can we divide a retirement account without incurring tax penalties? […]
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 »Calculating Child Support: What is considered income?
Friday, July 14th, 2017
If you share a child with a person you are no longer married to, or were never married to, chances are you have heard of Tennessee Child Support Guidelines. In Tennessee, a person’s child support obligation is calculated pursuant to a child support worksheet which is governed by these Guidelines. A child support calculation is […]
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 […]
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