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February 2018 Archives

Britney Spears' ex seeks more child support

During the divorce process, many parents struggle to agree on child custody arrangements and child support payments. Even when they finally agree to certain terms, they may decide to revisit the issue and modify their child custody and support agreement months or years later.

What happens to investment properties in a divorce

You may remember the exact conversation in which you and your spouse developed the idea of purchasing rental properties to diversify your investments. Year by year, you accumulated multi-unit residential buildings and commercial properties with a view to having a secure retirement. However, things don't always go as planned.

New tax code may negatively affect alimony for divorcing couples

In an earlier post, we discussed how the new tax code will affect alimony nationwide. Alimony has always been difficult to determine, but according to some experts, the new tax code will likely make things even more difficult. In the past, each state had its own rules to determine alimony, but no matter where you were, the payer could deduct alimony on their taxes while the payee would pay income tax on it. However, under the Tax Cuts and Jobs Act, alimony will no longer be deductible for payers after Dec. 31, 2018. That means that people receiving alimony will no longer have to pay income tax on it.

Can I modify my custody order after it is finalized?

When you finalize your divorce, the court will typically enter an order detailing your child custody and child support arrangements. This child custody and support agreement will often specify where your child will live primarily, who will be responsible for making decisions for the child, how often the non-custodial parent will see the child and how much the non-custodial parent will pay in child support. Once the custody order is finalized, both parents are legally obligated to follow the terms of the order.

What is "community property" in a divorce?

If you are currently going through a divorce or learning about what to expect, you may know that California is a "community property" state. What does that mean? Generally, the term community property, also known as marital property, refers to any property acquired during your marriage. Community property may include the income you and your spouse earned throughout the marriage, the family home, furniture purchased during the marriage, mortgages and any debt incurred during the marriage. Community property laws in California will affect the property division process as you go through your divorce.

Preparing for divorce difficulties may prove helpful

When you got married, you likely imagined a life filled with love and happiness with the person you considered your best friend and soulmate. Perhaps after a few years this imagining began to change as marital issues began to creep into your relationship. At first, you and your spouse may have been able to keep the problems at bay, but before too long, you began to experience issues that seemed insurmountable.