Category Archives: Spousal Maintenance

Your Pre-Nup May Be A Ticking Time Bomb

Your New York pre-nup may be a ticking time bomb. Because of last year’s changes to the tax law, a divorce could be much more costly than you bargained for in your prenuptial agreement. The good news is that you still have time to disarm the bomb. Historically, maintenance in New York (alimony everywhere else)…

Wives in New York Paying Maintenance and Child Support

The times they are a changing. It is now increasingly common to hear ex-wives complain about the amount of spousal maintenance and child support they are paying to the ex-husbands. For years, men were ordered to both pay both spousal maintenance and child support as part of their New York divorce. But, the pendulum has…

New York Maintenance and The Tax Reform Bill: Alimony Will Not Be Deductible After 2018

The clock is ticking; 2018 will be the last year maintenance in New York (alimony virtually everywhere else will be deductible. The recently enacted tax bill eliminates the tax deduction for the payment of alimony. Historically, maintenance has been deductible to the paying spouse and includable as income to the recipient spouse. Child support, on…

Tax Bill To Make Divorce More Expensive: Maintenance Not Tax Deductible

Hard to believe, divorce in New York may get even more expensive. The tax bill proposed in the House of Representatives, last week, seeks to eliminate the deduction for alimony payments. The new tax law attempts to eliminate what has been called a “divorce subsidy.” Under the existing law, the party paying alimony may deduct…

Can a Husband Be Ordered to Pay More Maintenance or Child Support for Refusing to Give a Get?

As part of a divorce in New York, a party must remove all religious barriers to the other parties’ remarriage before a civil divorce is granted. This requirement was enacted to require Jewish men to give their wives a “Get” – a religious divorce. Without the get, a religious Jewish woman cannot remarry or…

Divorce sometimes has its bittersweet moments. That certainly applies to payments of spousal maintenance for both the payer and the recipient because of the tax implications. For the party making maintenance payments, the bitterness of parting with your income is sweetened by the fact that the payments are generally tax deductible. This is true whether…

More Money, More Problems: 3 Big High Net Worth Divorce Mistakes

The stakes are high in any divorce. During a divorce, decisions are made that will affect the course of the rest of your life emotionally, practically, and financially. The stakes are even greater – and more complicated – in a high net worth divorce. Complicated ownership “schemes” of significant and diverse assets can make it…

What is a “Statement of Net Worth” and What Role Does It Play in a New York Divorce?

When it comes to finances in a New York divorce, you have to lay all of your cards out on the table. Full disclosure is the name of the game. As a foundation to resolving the issues of equitable distribution, spousal maintenance and child support, both spouses must complete a full and in-depth assessment of…

If you’ve never been through a divorce before, the realities of the process will understandably be unfamiliar to you. If you are considering divorce and trying to learn about how a New York divorce works, you may get advice or supposed facts from friends, family members, your hairstylist, or someone at the gym. There’s a…

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Category Archives: Spousal Maintenance

Your Pre-Nup May Be A Ticking Time Bomb

Wives in New York Paying Maintenance and Child Support

New York Maintenance and The Tax Reform Bill: Alimony Will Not Be Deductible After 2018

Tax Bill To Make Divorce More Expensive: Maintenance Not Tax Deductible

Can a Husband Be Ordered to Pay More Maintenance or Child Support for Refusing to Give a Get?

Spousal Maintenance and the “Tax Man”

More Money, More Problems: 3 Big High Net Worth Divorce Mistakes

What is a “Statement of Net Worth” and What Role Does It Play in a New York Divorce?

12 Divorce Myths Busted

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