11/09/2017Tax Overhaul Targets Alimony
Content of the Tax Cuts and Jobs Act (TCJA) was revealed last week and, as it now stands, alimony discussions will change dramatically. If approved in its current state, on this issue, going forward as of January 1, 2018, no alimony will be tax deductible for the payer, nor taxable to the recipient. This includes all alimony modifications made after January 1. All standing alimony orders will retain their current tax status for payer and recipient. The TCJA is the most sweeping tax reform proposed...
03/24/2017Choosing an Attorney
I am often asked for attorney referrals by potential clients embarking on the divorce process. My usual response is that I am better able to make referrals after meeting with you, understanding something about your situation, what you prefer in the way an attorney will represent you, and getting to know you is a limited way. Even after all that, I will provide at least three names of attorneys for you to interview, assess and make your own best decision. An attorney is not a commodity. This is...
01/25/2017Preparing for Divorce
You have decided this divorce needs to happen. Now what do you do? Prepare yourself. The following are some steps to take before you pull the trigger and set things in motion. Take care of deferred needs like dental work, new eye glasses, replace the tires, fix the roof, etc. Money is going to get tight, real soon, so better to know these things are taken care of. On the other hand, you will need to save some cash for the expenses of the divorce process: hiring professionals like a financial...