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May 2016 Archives

Alimony and your taxes: Deducting alimony on your return

When you pay alimony, you may have questions about how it will affect your taxes. Will you be taxed on the income you're losing? Will this affect your overall income level? Before you ever pay alimony in a divorce, understanding how you'll be affected in the long term is key to knowing which is a good settlement and which is one that could put you at financial risk.

Should you get a prenuptial agreement before marriage?

When you're about to get married, you probably feel so much love for your spouse that you don't feel it's necessary to protect yourself with a prenuptial agreement. However, that might not be the best legal move. In the long term, you have to think about what happens if that excitement dissipates; what happens if you get a divorce? Even if not, protecting yourself now can alleviate many of the concerns you could have in the back of your mind.

Inheritances: Protecting your inheritance in divorce

With a high-asset divorce, you may be concerned about many things. You may have assets like businesses, properties or a high income. These are all things you probably want to protect, and your attorney can help you do so by defining what is separate property and what is marital property.