Uncle Sam plays a role in pretty much any financial transaction that happens inside the United States -- even in some that happen outside of our country, but that is fodder for a different post. This post focuses on the role the Internal Revenue Service (IRS) plays in divorce.
Recent tax reform has changed the role taxes play during divorce. As a result, the old rules regarding divorce and taxes are often outdated. Three specific areas of divorce that were impacted include:
New Jersey parents want nothing more than to retain strong relationships with their children after divorce. The end of your marriage does not mean an end to your role as a loving and active parent, and you have the right to protect that. Fighting for your parental rights may continue well after your divorce is final.
Divorce results in the division of marital property. When a divorce involves a business owner, the business may be subject to division. Business owners can take steps to avoid this, such as the use of a prenuptial or postnuptial agreement. However, absent a business owner's active attempts to keep the property separate, the business will likely be subject to division during divorce.
More and more couples are finding love a second time. Whether the first relationship ended due to divorce or death of a partner. A recent study by the Pew Research Center finds that the vast majority of individuals over the age 55 find love a second time. 67 percent of these individuals, to be exact.
Partner Gwyneth Murray-Nolan, Esq. Brings you the second part of her guide on planning for divorce. Divorce is a stressful, emotional process. Getting organized early will assist you long term.
Amazon founder and CEO Jeff Bezos recently announced his divorce from his wife of 25 years. Whether the owner of one of the highest valued businesses in the world or just getting a start-up going, this divorce provides a very important lesson to business owners -- protect your business interests.
Going through the end of a marriage can be a stressful and daunting experience, especially if you and your soon-to-be ex have children together. Since you likely place a high priority on the well-being of your children, you may have concerns about how the process will affect their lives.
In the first of this two part series, Family Law Attorney Gwyneth Murray-Nolan, Esq. gives you tips for preparing for the divorce process.