A House-sponsored tax reform measure making its way through Congress proposes to end the tax deduction for alimony. That would eliminate a tax break for the ex-spouse who pays alimony, and the tax hit for the ex who receives it, according to CNBC. Divorce lawyers may want to rush through any pending cases before the end of the year because of the uncertainty surrounding the proposal, according to one divorce attorney who said his phone started ringing as soon as news about ending the deduction made the news. Read more about how family attorneys are reacting to the possibility in this story at CNBC.
Divorce can take a terrible toll on those who choose to end a marriage. But making financial missteps during the process can make matters even worse in the long run. Depending on how intertwined your finances are, you may want to hire a financial advisor as well as a family law attorney to help guide you through the process of unwinding your marital assets. CNBC has a list of five financial mistakes you’ll want to avoid if you’re going through a financially-complicated divorce.
After a marriage draws to an end, the divorcing couple must begin the trying work of untangling their legal, financial and child custody lives. While some believe the process will go well enough to consider mediation, the rest must hire family law attorneys. How does a couple know if mediation is right for them? Lifehacker has a list of eight signs divorcing couples should look for if they suspect that mediation won’t work for them.
Crowdfunding to raise money through websites such as GoFundMe and Kickstarter are fairly commonplace. However, a new crowdfunding website not only helps raise money for honeymoons, but also for divorces. Plumfund.com allows newlyweds to ask for donations to help pay for honeymoon expenses. And if it doesn’t work out, couples breaking up can also seek crowdfunding for their divorces. Plumfund says “it’s simple” to create a divorce fund to seek support for legal fees, household items and living expenses. Is it a good idea to turn to crowdfunding to pay for divorce? CNBC takes a look in this story.
Business owners who get divorces sometimes put their businesses in jeopardy. It’s possible to save the business in a high-stakes divorce if you take steps early. One common issue is that many business owners often start their marriages with little income or savings. Jacob Maslow looks at four ways to protect your business in a divorce in this article at Legal Scoops.
The traditional path for couples seeking divorce has been either collaboration or litigation. But sometimes a different path may be best: mediation. Legal Scoops lists four reasons why mediation may be a better solution.
A new Florida law called The Collaborative Law Process Act went into effect on July 1, and is designed to make the process of getting a divorce shorter, kinder and gentler. The goal is to make the divorce process more collaborative, and less combative. More on the new law and how it works is available in this story at Legal Scoops.
Should a married couple get divorced if neither person is really to blame for the failure of the marriage? Typically, one spouse (if not both) blames the other for a divorce. But does there need to be a legal reason to blame someone for a marriage’s dissolution? Legal Scoops takes a look at the issue in this story.