Estate Plan After Divorce If you’re divorcing, it’s important to review your estate plan as early as possible, for two reasons: First, you may wish to revise your plan immediately to prevent your spouse from inheriting or gaining control over your assets if you die or become incapacitated before the divorce is [...]
If you are divorcing or recently divorced, taxes may be the last thing on your mind. However, these events can have a big impact on your wallet. Alimony and a name or address change are just a few items you may need to consider. Here are some key tax tips to keep in mind: Child [...]
When couples separate or divorce, one is often required to make payments to the other. If these payments meet the tax-law definition of alimony, the one making the payments can deduct them, and the recipient must include them as taxable income. Payments intended as alimony are often substantial, so it is important to identify and record these payments correctly.