Protecting your assets isn’t just about insurance. Couples willingly enter marriage without considering the impact of a break-up while few would enter a business partnership without planning who takes home what value if the business were to close or be sold. The bread winning spouse may fear the consequence of asking for an agreement. The … Continue reading Your Relationships: Should you Prepare a Pre or Post Nuptial Agreement
Identifying the value of a privately held business or business interest to be divided in divorce is one of the most difficult, time consuming, and expensive tasks involved in separating financial assets. This is even more the case in 2020 when the impact of Covid-19 may have exposed a business’s vulnerabilities or, conversely, opportunities that … Continue reading Investments in Private Companies: What information does a divorcing spouse need in order to evaluate these interests?
In divorce, one of the most difficult decisions is what to do with the family home. Take the story of Jill and Bob Carter. The Carters have been married for 20 years and purchased their home after marriage. The home is considered community property. The Carters have two children, Mark, 18 and headed to college, … Continue reading Dividing the House in Divorce: What are the options?
The new tax law, Tax Cuts and Jobs Act of 2017 (“TCJA,”) impacts many of the most commonly negotiated terms in divorce. I’ll briefly cover just a few here. Please be sure to review your tax status with your tax planner or attorney before next year. Alimony: For divorce decrees after December 31, 2018, alimony … Continue reading Divorce and the New Tax Law
An attorney called me concerned that her client, Jill*, would not be able to afford to keep the family home after divorce. Jill wanted to keep that home but the attorney believed her budget couldn’t tolerate the payment. Jill insisted that she could figure out a way to make it work on her salary as … Continue reading In Divorce, Nearly Missed Opportunity – The Mortgage Payment