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Divorce & Estate Planning

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Will New Tax Laws Complicate Divorce in 2019?

Some are saying that the 2019 tax bill is complicating divorce for women. And they are right. For those whose divorces will be finalized after December 31, 2018, there will be repercussions. The new law makes spousal support (sometimes referred to as alimony) non-tax-deductible for the payer and non-taxable for the recipient. This effectively eliminates the previous tax benefit of larger support payments. This is particularly noticeable in high tax states like California and New York where the deduction in place before the new law took effect could save top earners up to 50% in taxes. Since women are more…

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Modifying Your Will in the Event of a Divorce

In the event of a divorce or legal separation, your main residential property, assets as well as family circumstances will likely undergo a huge change. Any provisions made in the existing will might no longer seem in line with your changed situation. While a divorce scenario can understandably be quite upsetting, it is critical to secure your future by analyzing your will and making necessary alternations to it. Effect of Divorce on Will The receipt of the final papers of a divorce case (decree absolute) indicates the settlement of all financial matters between the spouses. Matters related to your estate…

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