Taxes and Divorce

Feb 15, 2010 | Filed under: Separation and Divorce, Taxes

My mentor and friend, James M. Wilsman, once told me years ago:

Two things in life are certain: Taxes and divorce. Divorce isn’t necessarily certain, but it’s probable.

Based upon current divorce statistics, Jim’s assessment that divorce is probable is on the money.[1]

Separation and divorce raise many issues for the parties involved, including issues relating to child custody, child support, alimony, and property division. Additionally, and almost without fail, separation and divorce raise tax issues that must be sifted through by the parties and their respective family law attorneys.

This section of the blog is dedicated to a discussion of many potential divorce-related tax issues. These tax issues affect alimony, property division, and child support, among other family law issues. More to follow in the coming weeks.

by Steve Mansbery

[1] http://www.cdc.gov/nchs/fastats/divorce.htm