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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Lifestyle Analysis in Divorce

Why do you need a lifestyle analysis? In North Carolina, when considering the amount, duration, and manner of payment of alimony, the court considers 16 factors, one of which is the standard of living of the spouses established during the marriage.  If you’ve hired an attorney, one of the things he or she will ask […]

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Why Alimony Exists

Why alimony exists Alimony has been around for a long time.  The original theory of alimony was that women were not able to support themselves and thus needed to be supported following the marriage.  Since the time that women have been able to own property and support themselves, alimony has been evolving and now the award […]

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Avoid financial pitfalls in a gray divorce

Gray divorce is the new trend Although many think that after many, many years of marriage it will surely last “till death do us part”, more and more baby boomers are divorcing after 20, 25 even 35 years of marriage.  Although this is not official, my examination of New Hanover County, North Carolina court files […]

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