Category Archives: Agreements

A Parent’s Obligation to Pay for College Does Not Include Graduate Studies

A father, who had agreed to contribute to his child’s college education, was not responsible for contributing to the costs of the child’s post-graduate degree. In the recently decided case of Robinson v. Gerny (New York Law Journal) (subscription required), the Court ruled that “The word ‘college’ denotes attendance at an undergraduate program resulting in…
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The Basics of Divorce and Taxes

The Oklahoma Family Law Blog highlights some of the basic tax concerns that need be considered in connection with divorce. • Alimony is taxable and deductible. The person who provides alimony can claim the payments as a deduction, while the person who receives it can avoid a large end-of-year tax bill by paying estimated taxes…
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Divorce and Taxes: How to Avoid Costly Mistakes

The Wall Street Journal in an article entitled Divorce: Counting Money Gets Tougher, highlights the common mistakes made by unwary litigants. These mistakes can have dire tax consequences. Some common blunders: Dividing a stock portfolio down the middle without checking for losses or gains -- which can trigger either a tax break or a big…
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Post Nuptial Agreements Gain Popularity

The Financial Times reports that there is a growing trend for post nuptial agreements.   Like the pre-nuptial agreement, the post-nuptial agreement sets out the parties’ rights, obligations and liabilities upon the termination of marriage by either death or divorce. The only difference between the two marital agreements is that the post-nuptial agreement is executed sometime after…
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Clear and Unambiguous Agreements Avoid Future Disputes

It seems to be just common that when negotiating any type of marital agreement, it is important to make sure that your every intention is clearly spelled out, even if the intent seems obvious to you..  Such is the lesson of recently decided case of Genovese v Axel. In Genovese: [T]he parties executed a prenuptial…
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Pre-Nups: For Everyone? offers a great primer on the pros and cons of negotiating a pre-nuptial agreements.  The pre-nup could prevent litigation in the event the marriage ends in divorce.  On the other hand, a difficult negotiation may end the relationship before a marriage takes place. I have excerpted the article here: Pre-nuptial agreements, are no longer…
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