At times, making the decision to divorce may be particularly challenging. Once couples reach the point that they are ready to split, however, there may be an inclination to rush to the finish line without considering the wide range of consequences associated with getting divorced. As such, it may be particularly important to accurately assess the impact of divorce as the process moves forward.
One thing that spouses might not immediately consider is that there are potential tax consequences for transferring assets between divorcing spouses. In high-asset divorce cases, the tax burden could be significant.
Law and Rights
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Law and Rights
Tax liabilities may be especially important in high-asset divorce
Continue reading Tax liabilities may be especially important in high-asset divorce...
- Divorce Is Increasing, Not Decreasing, Says New Study
Divorce is increasing, not decreasing, says new study A new study sheds some light on the U.S. divorce rate, and what has really been going on over the past few decades. It was thought that the divorce rate was decreasing since the 1970s, but the new...
- What Must Be Considered When Completing A High-asset Divorce?
On behalf of Regina Edwards of Edwards & Associates, Family Law Attorneys posted in High Asset Divorce on Friday, September 20, 2013. Divorce is usually a very complicated process. Not only does each spouse...
- Is Late-in-life Divorce A Bad Financial Move?
On behalf of Edwards & Associates posted in Divorce on Tuesday, December 27, 2011 Statistics seem to support the theory that as the economy worsens, the divorce rate goes down. Many couples, fearing they can't make it on their...
- Divorce Financial Planning In A Tough Economy
On behalf of Edwards & Associates posted in Divorce on Tuesday, January 4, 2011 In these tough economic times, many couples who have emotionally separated and would like to divorce are not doing so because they feel they cannot afford it....
- Equitable Distribution: The Marital Interest In A Non-marital Property Or Premarital Home
As couples marry later in life or have second marriages, one or both of the parties may already own a home. As a result, in many divorce cases, the parties live in a home owned solely by one of the parties. In these cases, a common question is whether...