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Category Archives: Finances and Divorce

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Another Tax Trap: Imputed Income and Health Insurance in Divorce Settlements, Part 1

Posted in Divorce Planning, Finances and Divorce

Hi there, April 15th is creeping up on us. I find doing my taxes while its snowing, AGAIN, a real insult. This week and next week’s post were written by my terrific colleagues, Ron Barriere and Jen Green. They highlight a tricky complexity in the new health insurance laws for divorcing couples. Best, Nancy Divorcing spouses have many… Continue Reading

The Over 60 Remarriage Penalties

Posted in Finances and Divorce

Hi there, With all the government kerfuffle in the news lately I have been thinking about how government programs and regulations affect family choices. Health insurance and Social Security are two of the ways the choice to remarry, or in some cases marry, are economically affected. If you are divorced and receiving Social Security benefits based… Continue Reading

Tax Issues When Dividing Marital Property Pursuant to a Divorce: Part 2

Posted in Divorce Process, Finances and Divorce

Hi there, This week my very smart colleague Jen Green is back with Part 2 in her series of important tax issues that need to be considered when dividing marital property during a divorce.  Best, Nancy    4. Principal Residence The marital residence is one of the largest marital assets. In general, the tax code provides that… Continue Reading

Revenue Ruling 2013-17: IRS Recognizes Same-Sex Marriages for Tax Purposes

Posted in Finances and Divorce, Gay Marriage and Divorce

Hi there, My terrific tax colleague, Jen Green, has a quick update on taxes for same-sex married couples. This is terrific! Best, Nancy The IRS has issued a notice extending Revenue Ruling 58-66 to same-sex marriages.  In Revenue Ruling 58-66, the IRS stated that a couple would be treated as married for purposes of Federal income… Continue Reading

Tax Issues When Dividing Marital Property Pursuant to a Divorce: Part 1

Posted in Divorce Process, Finances and Divorce

Hi there, I’ve written before about the emotional roller coaster that can come along when it’s time to divide assets during the divorce process.  Today my colleague Jen Green offers the first of several tax rules – and their consequences – for transferring certain property between former spouses.  Stay tuned next week for her assessment… Continue Reading

Tips to Protect Your Privacy When Separating – Part 2

Posted in Divorce Process, Finances and Divorce, Information Security, Parenting, Children & Divorce

Hi there, In last week’s post I shared some tips to help protect your privacy when divorcing.  Following are a few more to consider. 1. Whether you move or stay, make sure that the post office has all the necessary address changes.  Also be sure to contact all the credit card companies, phone carriers, banks, etc. with your… Continue Reading

Taxes: Protect Yourself in Divorce

Posted in Finances and Divorce

Hi there, It’s tax time again!  I know this because I am cleaning closets at home to avoid pulling my taxes together.  If you are in the middle of a divorce, you need to be careful about how you file your taxes.  Jennifer Green, my very knowledgeable tax colleague, has some suggestions for this. Best,… Continue Reading

Applying for Social Security Survivor’s Benefits During the DOMA Appeal

Posted in Court Decisions, Finances and Divorce, Gay Marriage and Divorce

Hi there, The Supreme Court announces today whether or not they are going to take up a challenge to the Defense of Marriage Act in a case arising out of Social Security benefits. As promised, here is a different point of view to last week’s post.  This one is authored by my partner Lisa Cukier, one… Continue Reading

Tip #2 of the Top 5 To-Do’s When You Want to Divorce: Get a Handle on your Finances

Posted in Divorce Planning, Finances and Divorce

Hi there, This tip sounds simple, but many folks have ignored the finances of their marriage because their spouse is in control (and often controlling), or because they have not “needed” to become knowledgeable. If this has been you, right now, you NEED to find out as much as you can.  Where are your assets (i.e. retirement… Continue Reading

The New Normal

Posted in Finances and Divorce

Hi there, We don’t live in a vacuum and what is happening in the global economy affects all of us (think of your 401K’s roller coaster ride this year).  If you are divorcing, you, your counsel, and hopefully your financial advisor, should be thinking about what nasty surprises may be in store as a result of the… Continue Reading