News & Analysis as of

Divorce Tax Liability

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.
Lowenstein Sandler LLP

The Sad Case of Lovey and Hubby (Part 2)

Lowenstein Sandler LLP on

On this episode of “Splitting Heirs,” Warren K. Racusin welcomes back Sharon L. Klein, President of Family Wealth for the Eastern US Region of Wilmington Trust Company and member of the Estate Planning Hall of Fame, to...more

Locke Lord LLP

In Innocent Spouse Tax Cases, How You Tell Your Story Matters

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Married people who file their taxes jointly typically choose this option because of its tax advantages. But when a spouse commits a misdeed, you’re still jointly and severally responsible for the payment of taxes. ...more

Cohen Seglias Pallas Greenhall & Furman PC

[Webinar] My Will and My Divorce: Protecting Your Assets From Your Ex - September 26th, 12:00 pm - 1:00 pm ET

During the divorce process, one often overlooked area is updating your estate plan. Divorce can impact beneficiary designations on life insurance policies, retirement accounts, and other assets and can also have tax...more

Weber Gallagher Simpson Stapleton Fires &...

2022 Tax Season: What Families Need to Know

As the 2022 tax season kicks off, there are important issues that divorcing parties must consider. First, it is always more beneficial to the family unit for the parties to file taxes married filing jointly. Not only does...more

Bowditch & Dewey

8 Important Tax Considerations During Divorce

Bowditch & Dewey on

Income tax effects are often the last thing on one’s mind when going through a divorce, but having sound tax advice during a divorce is important for many reasons. FILING STATUS - Divorce will change your income tax...more

Freeman Law

Tax Court in Brief | Ibrahim v. Commissioner | Deduction of Alimony or Separation Maintenance Payments

Freeman Law on

Tax Litigation: The Week of May 16th, 2022, through May 20th, 2022 Caldwell v. Comm’r, T.C. Memo 2022-51 | May 20, 2022 | Lauber, J. | Dkt. No. 3333-19. Ibrahim v. Commissioner, TC Summary Opin. 2022-7| May 16, 2022 |...more

Weber Gallagher Simpson Stapleton Fires &...

Let's Talk What to Bring to Your First Family Law Appointment

When you are going to meet with your family law attorney, what should you bring? Family law partner, Carolyn Mirabile discusses which documents can help your attorney gain a better picture of the marital estate for the...more

Rivkin Radler LLP

Wendy And Jen Wreck the Movies – Citizen Kane (1941) Or Deposit Money, Not Children, in the Bank

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“Legendary was the Xanadu where Kubla Kahn decreed his stately pleasure dome.” Legendary too were the colossal errors made by Mary Kane in this celebrated classic movie which follows a journalist as he tries to uncover the...more

Holland & Knight LLP

Tax Liability Issues to Consider for High-Net-Worth Couples in Divorce

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Divorce is not a topic most clients or tax advisors enjoy discussing. Nevertheless, it is important in today's day and age to advise clients, especially high-net-worth individuals with substantial assets located in the U.S....more

Burns & Levinson LLP

How To Read A Trust

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If you are getting divorced, you may find that your marital assets include interests in one or more trusts. It could be that you and your spouse established the trusts during your lifetime, or perhaps a family member created...more

McDermott Will & Emery

[Event] 2019 Private Client West Coast Forum – November 8th, Palo Alto, CA

McDermott Will & Emery on

Please join us this November for McDermott Will & Emery’s Private Client West Coast Forum. At this complimentary program, experienced McDermott partners will lead discussions on a broad range of topics pertinent to ultra-high...more

McDermott Will & Emery

[Event] 2019 Private Client West Coast Forum – November 7th, San Francisco, CA

McDermott Will & Emery on

Please join us this November for McDermott Will & Emery’s Private Client West Coast Forum. At this complimentary program, experienced McDermott partners will lead discussions on a broad range of topics pertinent to ultra-high...more

McDermott Will & Emery

[Event] 2019 Private Client West Coast Forum – November 6th, Los Angeles, CA

McDermott Will & Emery on

Please join us this November for McDermott Will & Emery’s Private Client West Coast Forum. At this complimentary program, experienced McDermott partners will lead discussions on a broad range of topics pertinent to ultra-high...more

Cozen O'Connor

The Deductibility of Future Alimony Payments Just Might Depend on the Past

Cozen O'Connor on

The Tax Cuts & Jobs Act of 2017 eliminated the tax deduction previously allowed for alimony payments effective January 1, 2019.  This meant that alimony payments made pursuant to an agreement executed after December 31, 2018...more

Jaburg Wilk

Divorce and Taxes

Jaburg Wilk on

When a couple is getting divorced both current and future tax obligations as well as tax basis are very important. There are four areas that we frequently advise our clients about. Originally published on ABC15 Sonoran...more

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