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Tax Traps to Avoid During Divorce
It is recommended that you hire a CPA to complete your tax return the first year after your divorce. This will ensure that it is the return is done properly and you receive all deductions for which you qualify. Your divorce may finally be over, but the tax effects can continue for years.
Please consult your tax advisor concerning the information addressed above to ensure it applies to your unique situation. Take the time to understand the numbers before you sign your divorce settlement. Secure your future. Getting a financially smart divorce also includes properly wrapping up the loose ends (changing your will/beneficiaries, Health Care Power of Attorney etc.) once the divorce is over.
The grounds to file a complaint for a legal separation are the same as for a divorce. The court can address child custody, visitation, support, and property issues during legal separation upon motion by either party or by agreement of the parties. The court has the power to grant an absolute divorce to either party if there has been an order of legal separation for more than two years, the parties have not reconciled, and either party files a petition for an absolute divorce.
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"A Plain English Guide to Protecting Your Children"
Author: Mary L. Boland, Attorney at Law
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