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September 2015 Archives

Prenuptial agreements and lifestyle clauses

As prenuptial agreements continue to be a popular tool for those considering marriage, their contents continue to evolve into the modern era. While once only the rich and famous bothered with a prenup, people of all incomes and all lifestyles are incorporating these contracts into their wedding plans. Most prenuptial agreements detail the asset division process should a marriage fail, but "lifestyle clauses" are changing the face of today's premarital agreements.

The impact of divorce on spouses' credit

Most people would agree that dealing with property division and other financial elements make a divorce quite complex. There are many reasons for this, such as commingling funds into joint accounts. Credit accounts in particular can really complicate the property division process. If the couple is not well prepared, liability for these credit accounts can pass on unbeknownst to one or the other spouse.

Florida couple leaves child outside of bar, loses custody

Negative parental behaviors can have a dramatic effect on the custody of a child. It is fair to say that most parents try to do what is best for the children at all times. However, sometimes the behavior of parents is called into question so severely that they risk losing custody on a permanent or temporary basis. When allegations of neglect surface, authority figures in Florida might decide a child is better off in protective custody than with either parent.

Do I have to report alimony payments I've received on my taxes?

As with most legal questions, there is a short and simple answer to this question and a longer, more in-depth answer. The short answer is yes. Like other funds, alimony must be reported on federal tax returns as a source of income regardless of how spousal support is determined. The longer part of the answer is simply a clarification of requirements that make these payments alimony for tax purposes.