Many Americans are well aware of the new tax reforms under the Tax Cuts and Jobs Act. One detail of the law that directly affects family law and divorce is that money paid to alimony or spousal support will be considered taxable income, and those who receive alimony payments will not have it taxed as income.
Tips for co-parenting during the summer months
The summer months are a time of happiness and relaxation for the kids. Parents, on the other hand, may struggle to find ways to occupy children’s time. This in turn can lead to a schedule of soccer camp, math tutoring, trips to the beach and the necessary transportation logistics that goes with these activities.
How to give your kids more time with a packed schedule
Before your divorce, you stayed at home and raised the kids. It was absolutely a full-time job, but it also meant you spent a lot of time with them. You could connect with them. Your daily routine was their routine.
Kids sports and the divorced parent
Coparenting involves many challenges, particularly when the parents are divorced. One source of potential conflict is the role that sports play in the children’s lives and the potential choices of which sports kids want to play. As a rule, sports are great for children’s development but the viewpoint of the parents may differ widely. Some parents come from families place a high emphasis on participating in sports, while others may have emphasized other activities.
Wall Street exec to pay $4.1 million before divorce trial begins
Each divorce is as unique as the people involved. Some go smoothly with a fair and equitable arrangement, while others are more contentious. The Trafelets made the news recently when an appellate court judge in New York ordered hedge fund manager Remy Trafelet to pay $3.5 million in interim fees to his wife Lara. This is after $600,000 payment in 2017.
Yes, divorce will impact your finances
Your finances are going to be impacted during divorce, there's no question about that. However, the impact can be reduced, depending on your situation.
Three Uses of Financial Professionals in Divorce or Support Proceedings
Many times we read about the use of forensic accountants in Family Law proceedings, to either establish the marital standard of living, or income available for support or to value the community interest in a business. However, that largely looks into the past for analysis; as counsel, I believe we need to let clients know that we need to look at their financial future, as well.
