This article in the NYPOST about wife bonus intrigued for many different reasons. Who even knew that this was a thing in the upper echelons of New York’s Upper East Side enclaves? But apparently it is. And with the bonus what do they do? They purchase little luxuries such as bags, shoes and fine jewelry […]
HOW TO USE BITCOINS TO HIDE MONEY FROM YOUR SPOUSE (but note that this could be fraud) More and more people are investigating how to use bitcoins to hide money. Mostly, these people are trying to hide the money from their spouse. And mostly, there is a divorce on the horizon. A recent divorce dispute […]
HOW DOES THE NEW TAX CODE TREAT ALIMONY PAYMENTS AFTER DIVORCE (AND DURING NEGOTIATIONS)? The new tax code is still being sorted out by all the tax experts but it sure looks like it will change how alimony is treated in the near future. Prior to President Trump’s tenure us president, alimony payments were taxable […]
On When Your Family Thinks Your Divorce Settlement is a Winning Lotto Ticket They Are Entitled to by Kate Nguyen
Do you owe your family a portion of your divorce settlement the way you owe them if you win lotto? Obviously, when you have a windfall of cash and riches, it is expected that you will share it generously with your family and friends because you did not work for it. But what about your […]
Many people have been forced into bankruptcy because of their divorce. This is especially true when divorce becomes particularly combative and the parties to the divorce action try to score wins against each other in court. It does not usually happen when the parties amicably work out their divorce and avoid court and huge legal […]
How to Get Debt Free After Divorce Get Debt free After Divorce with these 10 Tips So, as you know, when you get divorced, both spouses are usually responsible for debts incurred during the marriage. Just like you are entitled to share the marital assets, you also have to accept the fact that you are […]
How to repair and increase your Credit score After Divorce As far as how to repair and increase your credit score after divorce, I am probably the last person who should be dispensing this advice. But I can imagine the mess you can find yourself in when you divorce especially with credit cards. I don’t […]
Divorcing People Tend to Fight over money. Why do they do that? Why do divorcing couples love to fight over money so much? They say money talks. I say, money never talks as loudly as when two people decide to end their marriage. Boy. Talk about a guerre mondiale! I was just reading Lady Chatterley’s […]
Let’s say there is a law or medical degree that comes from it and you are benefiting from that degree during the marriage, then arguably you should help pay for the debt – especially if when you divorce you expect spousal support that comes from that degree (and debt!)
Yes, it is possible to avoid paying alimony but with some of the methods, you had better be careful.
THE HIGH ASSET DIVORCE CASE: VALUATION OF COMPLEX ASSETS SUCH AS BUSINESSES AND RETIRMENT ACCOUNTS POSE A SPECIAL CHALLENGE FOR PRACTITIONERS. With the increase in the number of millionaires in the country, it is no wonder that there is a corresponding increase in high asset divorces – both in the US and abroad. The problem […]
Getting Divorced During Tax Season? Do You Know about 26 U.S. Code § 1041 – Transfers of property between spouses incident to divorce?
26 U.S. Code § 1041 – Transfers of property between spouses or incident to divorce. So, in this post I discussed property division and specifically the criteria judges used to determine what divorcing parties would get in their property settlement. I briefly touched on the issue of alimony vs property settlement and the taxable consequences. […]
Once you have itemized every single thing you own with your spouse in the asset column, then indicate the spouse who owns it or if all is owned jointly you just tick down the JOINT column. Then indicate the VALUE of the asset in the last column.
So here you are recently divorced and with a big fat check itching in your hands. What should you do with it rather than squander it like some people have been known to do? No, I am not thinking about Heather Mills ex wife of Beatle Paul McCartney. But a lot of women especially who […]
Yes, It is Possible to Get More Than 50 Percent of Your Spouse’s Retirement Benefits When You Divorce
Is it possible to get more than 50 percent of your spouse’s retirement benefits when you divorce? When it comes to divorce retirement benefits, it would seem logical that the person who actually worked and accrued these benefits should get the biggest chunk of it if the parties divorce, right? But this is not always […]