The new tax law changes how spousal support (alimony) is treated by both the paying spouse and the receiving spouse. The new rules go into effect for people who divorce, or sign separation agreements, in or after 2019. If you are thinking about divorce, or are already in the process of divorcing, you may want to explore the effects and consequences of the new law on your decision-making with your attorney and financial advisors. Here is a link to the American Bar Association article: http://www.abajournal.com/news/article/new_tax_law_affects_alimony_could_spur_divorce_surge/
Mediated divorce and collaborative divorce keep the decision-making in your hands, rather than giving that power to a judge. When you decide to use mediation, or a a collaborative process in your divorce, you can also decide to use neutral professionals such as financial advisors, who can help you use tax and other law to the maximum advantage of BOTH of you. In-court divorce litigation battles between opposing experts trying to prove each other wrong may not maximize your rights.
If you have questions about mediation in divorce, or collaborative divorce, please contact me. I’ll be happy to try to help.
Leave A Comment