Welcome to the Divorce Magazine Blog! Here, you'll find posts by experts, as well as posts by individuals who are facing the challenges of separation and divorce. We hope you find them interesting and informative – and a source of support and advice as you make your way through divorce into a new life. For information about becoming a blogger for this website, or to find out about our easy video blogging feature, click here.
The new tax law will have an effect on your overall divorce settlement agreement and your taxes post-divorce.
If you are considering divorce, don't go through it alone! Build your own divorce team! Here are a few professionals that should be playing and not warming the bench.
Post-divorce, being solely responsible for your financial destiny is stressful. An experienced financial planner can help you make wise investments, reduce taxes, and make sure your financial settlement will work for you both now and in the future.
The use of a trust in equitable distribution and tax planning in divorce situations can be complicated and not right in every situation. However, using a trust for equitable distribution and support payments could add an extra layer of protection for your client.
The process of getting divorce is a combination of legal, emotional, family, and financial issues all rolled into one. Many times the financial side of the equation is overlooked, or assumed to be fully analyzed in the legal process. But far too often the financial side is under-analyzed, under-appreciated, and not “future-proofed.” That’s where I, the financial advisor, come in.
Division of assets and debts may sound easy, but it is often not easy at all. These are the tax effects of property division and debt division in divorces and dissolutions.
While a divorce can greatly affect you emotionally, it can also impact you financially. As you go through the divorce process, remember that the decisions you make now will have long-term effects on your future.
Usually, transfers of appreciated property between parties result in gain recognition. However, by utilizing Section 1041 of the Internal Revenue Code and a properly drafted property settlement agreement, divorcing spouses can transfer property between themselves without triggering a gain.