Tag Archives: divorce settlement

Tax Strategies That Could Help Your Divorce Settlement

Interested in finding ways to make your divorce settlement easier? Here are just a few strategies you could consider implementing. Put alimony in a trust The changes in how alimony would be taxed opened up some new possibilities for how you’ll deal with alimony. The spouse paying alimony is no longer able to deduct the… Read More »

Divorces Continue to Come Fast Thanks to New Tax Law

Attorneys and judges continue to report a flood of divorces — especially those going through accelerated process — coming through before the end of the year. This is primarily because elements of the Tax Cuts and Jobs Act, signed into law by President Donald Trump in December 2017, go into effect as of January 1,… Read More »

Can a Spouse Lease Out Rental Property During Divorce?

Divorced couples are able to own property together, but in doing so they must abide by the same rules any other business partners would. This means one partner must have the other’s permission to take any action with the property, whether that be renting it out, making improvements or selling it. Keep in mind that… Read More »

Can Divorced Couples Split Rental Properties on Their Taxes?

If you and your spouse own rental properties together, you are allowed to continue renting it out after your divorce if you wish to do so. However, you’ll need to come to a mutual decision about how you’ll divide these rental assets and the tax bills. As far as the IRS is concerned, whether you… Read More »

How to Handle Credit Card Payment Responsibilities After a Divorce

In some cases, a divorce court may include stipulations stating that one spouse is responsible for paying debt on credit cards that were taken out in their former spouse’s name. Of course, the concern then becomes that the ex-spouse will take advantage of this arrangement and rack up massive bills in the hopes that you… Read More »

Can I Write My Divorce Settlement Myself?

In many situations, divorcing couples can reach agreements outside of court and resolve their issues without much need for mediation. You do have the legal ability to write your own divorce settlement, but it is almost never advisable to do so. Many issues related to your divorce require a high level of knowledge about the… Read More »

Negotiating a Divorce Settlement with an Abusive Spouse

Divorce is never an easy process. It becomes especially complicated and emotionally trying when one spouse has been physically or emotionally abusive to the other. Before you file for divorce from an abusive spouse, it’s important to be aware that there are court protections available to you. Especially if the abuse was recent, you should… Read More »

Avoid These Common Mistakes with Your Divorce Settlement

Most divorce cases do not go to trial. Instead, they are entirely settled at the negotiation table. The settlement process gives you a lot more control over the outcome of your divorce. While this has some clear benefits, it also means there is much more room for error. Below are a few common mistakes you… Read More »

Who is Entitled to the Wedding Rings After a Divorce?

Even after a divorce, wedding rings can still carry deep meaning for you and your former spouse. In fact, there could be some question as to who is entitled to the rings after a divorce. In addition, if you were only married for a short time, the engagement and wedding rings may have some significant… Read More »

Tips for Selling Your Home After a Divorce

If neither spouse wishes to remain in the family home after a divorce is finalized, or if neither spouse is financially able to buy the other out, you may put the property on the market. Before the sale can proceed, you will must pay off the mortgage, equity lines and brokers’ fees, along with applicable… Read More »