Tax Aspects of Family Law
For most individuals, the dissolution of a marriage (divorce) is one of the most traumatic experiences that they may go through during their lifetime. Unfortunately, most individuals are not aware of the tax consequences a divorce may create. Tax consequences from a divorce are mixed issues of law and fact. Matters such as where the parties children live, how much spousal support will be paid, and allocation of attorney fees, may have significant tax consequences for each party in the divorce.
Additonally, the timing of the division of real property, pension and employee benefit plans, business assets, securities, and marital and business debts may have a significant income and estate tax impact. As a result, if you are currently involved in a divorce proceeding or will soon likely be involved in a divorce proceeding, you should consider having a competent tax attorney analyze your situation to advise you of a tax strategy. Doing so could ultimately save you a considerable amount of money and potentially improve your divorce position. The attorneys at Moskowitz LLP, A Tax Law Firm want to help protect you from incurring any needlessly large tax liability as the result of a divorce.
Please consider the advantages of allowing our law firm to represent you when you are dealing with a dissolution. We routinely advise family law attorneys for our jointly represented clients allowing us to coordinate your tax and family law cases in an advantageous way.