News & Analysis as of September 20, 2024

Income Taxes

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Divorce is the formal legal dissolution of a marriage. The divorce process implicates many diverse areas of the law including, but not limited to, real estate, wills and trusts, child custody, and tax.

Going Through a Divorce? Ease the Transfer of Retirement Plan Assets With a QDRO

Adler Pollock & Sheehan P.C. on 9/7/2023

Despite its unusual sounding name, a QDRO isn’t an alien from a science fiction movie or a geometric equation. In fact, QDRO stands for “qualified domestic relations order.” If you’re in the process of a divorce, a QDRO may...more

Wealth Management Update - July 2021

Proskauer Rose LLP on 7/8/2021

July 2021 Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts AFRs - The July applicable federal rate ("AFR") for use with a sale to a defective grantor...more

When to Take Advantage of a Spousal Lifetime Access Trust (SLAT)

Bowditch & Dewey on 11/24/2020

Under the Tax Cuts and Jobs Act, in 2020 each person may transfer up to $11,580,000 without incurring a gift or estate tax. This generous exemption amount will sunset at the end of 2025, which means that in 2026, the...more

“Untying the Knot”: Practical Considerations for the Newly Divorced

Cozen O'Connor on 7/8/2019

I was asked recently by a financial advisor in New York, to review and comment on a chart he had put together which was designed to help newly-divorced people in get back on their feet. The draft document I received covered...more

Child Support and Gifting

Burns & Levinson LLP on 6/17/2019

As a divorce lawyer who also does some probate litigation and trusts and estate work, I have always been interested in the interplay between divorce and trusts and estates. Recently, the issue of whether gifts are considered...more

Estate Planning and Prenuptial Agreements: Tax Implications of Alimony

Burr & Forman on 6/16/2017

When contemplating marriage and estate planning, frequently, individuals will enter into prenuptial (premarital) agreements to address their rights and obligations during the marriage and in the event of a divorce or death. A...more

U.S. Supreme Court Holds Same-Sex Marriage To Be a Fundamental Right

McGuireWoods LLP on 7/9/2015

The United States Supreme Court issued its opinion in Obergefell v. Hodges, 576 U.S. ___ (2015) on June 26, 2015. In a 5-4 decision, the Supreme Court held that the Fourteenth Amendment requires a State to license a marriage...more

United States v. Windsor: A New Direction in Planning for Same-Sex Couples

Holland & Knight LLP on 7/10/2013

On June 26, 2013, the U.S. Supreme Court in United States v. Windsor1 overturned Section 3 of the Defense of Marriage Act ("DOMA"), which had defined marriage as a union between a man and a woman.2 As a result, married...more

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