No Alimony Deduction? You Can Still Minimize Your Taxes. Prior to 2019, individuals who paid alimony to their ex-spouse could deduct that amount from their income before paying taxes to the federal government. The recipient paid taxes on the alimony they received, but at their lower tax bracket. All of that changed for
Dividing Marital Property? – How to Get What You Really Want How you and your soon-to-be ex divide your marital property, including your real estate and retirement accounts, is one of the most important decisions you will make during your divorce. If you don’t act thoughtfully, you might not end up with what
How Restricted Stock Units Are Treated in Divorce and Child Support Providing restricted stock units (RSUs) to employees, in addition to salary and benefits, has become popular in recent years in the San Francisco Bay Area among startup and high tech companies. Unlike stock options, which allow an employee to purchase shares of
Divorcing? Here’s How to Handle Your Wine Collection Are you getting a divorce and own a valuable wine collection? Many challenges arise whenever a divorcing couple has a valuable wine collection. The first challenge is how to physically handle it, to not destroy the taste of the wine nor damage the labels. The
Is Your Soon-to-be-Ex Spouse Holding NFT’s? Here’s What To Do. As we mentioned in a previous post, NFT’s and Divorce. What Are Your Obligations to Your Ex?, non-fungible tokens (NFTs) have become very popular in the crypto trading world. Just like other marital assets, NFT’s are subject to property division, when a married
NFT’s and Divorce. What Are Your Obligations to Your Ex? Non-fungible tokens (NFTs) have become very popular in the crypto trading world. When held as marital property, NFT’s are a special type of asset because they are so volatile. Their value can change by the day, the hour or even minute. Some individuals
Watts Charges and Epstein Credits Who Pays What Between Separation and Divorce? When a couple is in the process of getting divorced but hasn't yet decided how to divide up their assets, the financial aspects of day-to-day living can get complicated. As an example, one member of the couple may continue to live
Splitting Retirement Accounts with Qualified Domestic Relations Orders In a Community Property state like California, your ex-spouse or domestic partner is entitled to 50% of the value that you have accumulated in your employee sponsored retirement accounts during your marriage. These retirement accounts can be a 401K plan, IRA or pension plan. Retirement
Estate Planning Considerations During Divorce All too often, individuals leave their ex-spouse or ex-partner as their beneficiary on their financial accounts and their agent for their Durable Power of Attorney for health care and property, long after they get divorced. If you are getting divorced, even before your divorce is final, you will
How to Retain Your Home’s Capital Gains Exclusion When Getting Divorced If you are getting divorced and selling your home, you can still take advantage your marital capital gains tax exclusion. This blog post explains how. But, first, what is the home sales capital gains exclusion all about? If you own a home