After the new tax laws regarding spousal support were announced earlier this year, it is hard to go a week without hearing how it will affect people if they do not finalize their divorces by year's end. Under current tax laws, those paying alimony; whether they reside in Massachusetts or elsewhere, are permitted to use it as a deduction on their taxes, while those receiving it have to report it as income. For those who divorce in 2019, that is going to change.
For many parents, the summer months are a time for vacations, relaxation and time spent with their children. Yet, with each summer that passes, parents may be more aware of the looming costs for their children's higher education.
I would like a second opinion on that.
Is your beloved dog – or cat, or horse or, as cited in a recent media piece, boa constrictor – akin in your mind to the living-room sofa? That is, would you ever equate your animal companion to some piece of personal property you bought at the store?
Seemingly, there is nothing quite like a divorce to alter the perceptions of many women regarding money management during marriage.
That above-posed query in today's blog headline is not a loaded question, so trust your instincts.
Perhaps you're a divorced Massachusetts parent that wants to move outside the state with your children. Things seem better elsewhere. Maybe you just received an attractive job offer with increased pay. Or perhaps it's the case that a move will place your kids closer to loving grandparents or secure their placement in a better school.
If you are a so-called baby boomer nearing retirement who is happily contemplating a second marriage that you just know is going to work, congratulations. Many people find true love and lasting stability in repeat unions that follow younger failings.
Alimony has been a hot-button family law topic for many months now. We noted that in a recent blog post, noting in our December 19 entry from last year President Trump's pledge to sign a congressional bill into law "before Christmas."