Same Sex Divorce Faces Unique Challenges

  Same-sex divorces face unique challenges Now that same-sex marriage is legal, these couples not only face the same issues that opposite-sex couples do when it comes to divorce, they actually face even more complicated issues when it comes to divorce. For instance, when did the couple marry?  Same-sex couples who lived together for many years […]

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What is a Financial Affidavit in Divorce?

  There is a specific legal format for presenting financial information to in divorce court so that it is presented uniformly.  In most divorce cases, you and your spouse will have to prepare and file a “Financial Affidavit”.  (Note: Financial Affidavits are called different things in different states. For example, in New Jersey, it’s called […]

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Deductible Alimony Disappears in 2019

Deduction of alimony ends soon for new divorces One of the changes brought about in the recent tax reform act was the elimination of the ability to deduct alimony payments starting in 2019.  Under current law, alimony payments are deductible by the payor and taxable to the payee.  Alimony that is in effect, or goes […]

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Reviewing the W-2 for hidden assets in divorce

Wondering whether your spouse has disclosed all the compensation he or she is receiving? Employees are often compensated in ways that are not reflected in the deposit to the family bank account. It is important to ask for both pay stubs and past W-2s when investigating hidden assets. Employers will report assets such as contributions […]

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