While there is no requirement to hire an attorney to represent you in your divorce, it is generally recommended since the process is so complicated that it can often be impossible to ensure your rights are protected without a skilled legal advocate on your side. …
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Financial Professionals Find Strategy to Cope with New Tax Law
During the divorce process, the financial stability of both individuals is taken into account, and the responsibility of alimony is sometimes given to the higher earning spouse, when the lower earning spouse asks for it. Before the Tax Cuts and Jobs Act of 2017 was …
CONTINUE READINGMen’s Divorce Countdown: Tax Implications of Divorce
Men’s Divorce is proud to present Men’s Divorce Countdown, sponsored by Cordell & Cordell! Join Dan Pearce, online editor at MensDivorce.com, as he details the tax implications of divorce. Daniel PearceDan Pearce is an Online Editor for Lexicon, focusing on subjects related to the legal …
CONTINUE READINGUnderstanding Custodial Tax Benefits
While experiencing a divorce, there are many worries regarding who gets what. Whether it is custody of the children or assets accrued, everything is under a microscope. In ending the marriage, the fallout is created, leaving both parties looking to figure out their financial futures …
CONTINUE READINGIs Spousal Support Taken Out Before Or After Taxes?
Question: My wife and I are going through a divorce, and I am pretty sure that I will be ordered to pay spousal support. However, I am not sure how this works when it comes to taxes and my income. Will my spousal support payment come out …
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