Category Archives: Spousal Maintenance

Tax Bill To Make Divorce More Expensive: Maintenance Not Tax Deductible

Hard to believe, divorce in New York may get even more expensive. The tax bill proposed in the House of Representatives, last week, seeks to eliminate the deduction for alimony payments. The new tax law attempts to eliminate what has been called a “divorce subsidy.” Under the existing law, the party paying alimony may deduct…
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Spousal Maintenance and the “Tax Man”

Divorce sometimes has its bittersweet moments. That certainly applies to payments of spousal maintenance for both the payer and the recipient because of the tax implications. For the party making maintenance payments, the bitterness of parting with your income is sweetened by the fact that the payments are generally tax deductible. This is true whether…
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More Money, More Problems: 3 Big High Net Worth Divorce Mistakes

The stakes are high in any divorce. During a divorce, decisions are made that will affect the course of the rest of your life emotionally, practically, and financially. The stakes are even greater – and more complicated – in a high net worth divorce.  Complicated ownership “schemes” of significant and diverse assets can make it…
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12 Divorce Myths Busted

If you’ve never been through a divorce before, the realities of the process will understandably be unfamiliar to you. If you are considering divorce and trying to learn about how a New York divorce works, you may get advice or supposed facts from friends, family members, your hairstylist, or someone at the gym. There’s a…
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How Is Spousal Maintenance Calculated in New York?

  One of the most common questions I received since New York enacted maintenance guidelines is, “How is spousal maintenance calculated in New York?” Before January 25, 2016, maintenance was determined using a litany of factors, including the age of the parties, the length of their marriage, the parties’ income, their earning abilities and their…
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Seven Ways a Spouse Can Conceal Assets in a New York Divorce

Sadly, divorce often involves lies and deception. Although the parties in a New York divorce action are obligated to make full and complete disclosures of their assets and liabilities, it is not uncommon for one spouse to attempt to hide marital property. By hiding assets, one of the parties may attempt to keep those assets…
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