Divorce, Taxes and Children

The combination of taxes and divorce can add another layer of complexity to an already complicated situation. Divorce affects taxes in different ways.  This is especially true for divorced couples with children. Read how divorce affects taxes; especially if you have children.

Child Support

Arguably, alimony and child support are both forms of income, but the IRS tends to treat them very differently. Generally speaking, alimony is taxable for the recipient and tax-deductible for the person paying it. That’s not true of child support. In fact, the IRS does not require that child support be reported as income, so the parent receiving child support will not have to declare it as taxable income. Meanwhile, the person paying child support cannot use these payments as a tax deduction. However, if alimony is scheduled to end within six months of a child’s 18th or 21st birthday, then the IRS may view it as child support. read more

Divorce and Insurance: What You Need to Know

Getting a divorce can be a very emotional experience, but you have to stay focused on so many details. From collecting documentation to filing motions, it’s a challenge to keep on top of everything. Have you thought about the changes in insurance coverage that can result from a divorce?  Divorce and insurance issues play an important role in the overall process. You want sufficient coverage that satisfies any legal requirements. As you begin checking different policies, keep these insurance types in mind. read more

Four Types of Divorce in Florida: Which Option is Best For You?

Once you’re sure that filing for divorce is the best course of action, you still face a number of decisions. Divorces end with the legal dissolution of a marriage, but they don’t all reach that conclusion through the same process.

Four Types of Divorce In Florida

This guide outlines the four types of divorce in Florida which will help you determine how to handle your situation. Let us know if you have any questions.

1. Do-It-Yourself Divorce

DIY Divorce is becoming one of the most popular types of divorce; however, it isn’t as easy as it sounds. You need to be comfortable navigating financial records and documenting assets. If your case isn’t complicated, this option saves on attorney fees. DIY divorce might be a good fit for you if: read more

What Happens in Florida Divorce Court with a Contested Divorce

What Happens During a Contested Divorce?

Of course, the preferred outcome during a divorce is that it is uncontested and both parties are in agreement as to how many assets will go to whom as well as who gains custody of any children. However, this is not always possible, and a contested divorce is the result instead. Plain and simple, a contested divorce is when two parties cannot agree on how to divide marital assets or any other decisions of custody or alimony.  We’ve outlined the divorce process for you.

How Long Does It Take?

A contested divorce will take about 12 months, four times longer as an average uncontested divorce. This time period will vary quite a bit depending on how many aspects of it are uncontested. Note that even a single relatively minor thing that is not agreed upon will cause the case to become a contested one even if the two parties agree on the vast majority of the issues. However, in this case, it should take a much shorter time period to complete than would be the case if disagreements occur with a majority of the things that need to be ruled upon. read more