Divorce is often treated as a competition. Something both parties do their best to win, with the outcome decided by a judge. But it doesn't have to be this way. Divorce doesn't need to be a struggle between you and your ex. You have options.
You would do anything for your child. They deserve to not only have their needs met, but also feel supported. When an ex-spouse stops paying child support, it may become difficult for your child to succeed. Perhaps your ex's payments helped pay for piano lessons, soccer gear, dental braces or outfits for school. This sudden breach in the agreement can produce harmful drawbacks. What should you do if this happens?
You and your spouse have filed for divorce, and one day you notice a payment from your joint checking account to what appears to be a financial adviser. The only problem is you've never heard of or met this financial adviser.
The Tax Cuts and Jobs Act of 2017, or TCJA, signed into law by President Trump on December 22, 2017, has taken tax policy concerning family support in divorce back to the first half of the last century. The TCJA reversed seventy-five years of tax treatment of alimony. Alimony is a cash support payment made periodically for a specific duration and usually from income earned by one former spouse paid to another as a result of dissolution of their marriage (divorce) or legal separation.
Tim was sad but resigned as he described his marriage in our initial conference.
As a matrimonial attorney for nearly 34 years, it never ceases to amaze me the little regard people often have for their children during the dissolution process. I say this because, too often, I see mothers and fathers using their children as pawns or as ammunition in the war against their spouse. While the party may believe that he or she is acting in their children's best interests, in fact, the opposite is true. The long-term impact of divorce on the family and children can be devastating. As the father of two daughters, I have experienced firsthand the challenges of being a parent. It is not easy, no matter the children's ages, and requires two parents working together. It is possible to continue to present a common front as parents during a divorce if only parties recognize that they have only one shot with their children to get it right and that there are no second chances.
During the course of your marriage, you may inherit certain assets or property from loved ones, either after they pass away or while they are still alive. Although in most states these inherited items are considered the separate property of the individual who received them, Connecticut is one of a handful of states that generally considers them shared assets. This means that inheritances are likely to be factored into the division of marital property if you are seeking a divorce from your spouse.
In what has been one of the most expensive divorce settlements of all time, the wife of oil baron Harold Hamm received nearly $1 billion in a court ruling issued in early November. However, Sue Ann Hamm's attorney says she will appeal this amount, as it represents only about 6 percent of the fortune she and her husband, Harold Hamm, have amassed over the course of their 26-year marriage.
One of the most significant challenges divorced parents face is figuring how they can maintain consistent discipline and expectations for their children, especially if the kids split time between the two parents' homes. It's common for disputes to arise, for example, when one parent has different standards than the other.
Going through a divorce can be an expensive process, especially if there are high-value assets involved or significant tension between you and your former partner. However, even when a divorce is headed toward an amicable settlement, it can be very difficult to divide marital property, financial assets, debts and items of value as you plan for a life without your spouse.