Generally, the purpose of an attorney’s fee award in dissolution of marriage cases is to ensure that both parties have similar access to counsel and can thus fight the action on nearly equal footing. Thus, in a case where one party is in a far superior financial position, that party may be ordered to pay […]
Category: Divorce
Family Businesses In The Divorce
Many families derive all or a portion of their income from businesses that one or both spouses own, so often the business becomes an integral part of a divorce. The first question that must be tackled is whether or not to include the business as a party to the divorce. Sole proprietorships (unincorporated businesses) do […]
Can I Discharge In Bankruptcy Debts To My Former Spouse?
The answer depends upon the nature of the debt. Certainly, alimony cannot be discharged in bankruptcy, nor can child support. But when a payment to a spouse is not termed alimony or child support, the question of dischargeability is muddied. Ordinary debts to a spouse are usually dischargeable, so if, for example you have agreed […]
Alimony: Tax Considerations
If you are going through a divorce and alimony is an issue, you should be aware of certain basic tax considerations associated with an award of alimony. Generally, the treatment of alimony is to make the alimony taxable to the recipient and deductible by the payor. Alimony is to be included as part of the […]
Downward Modification Of Alimony vs. Suspension Of Obligation To Pay
If you are paying permanent alimony to a former spouse, you should be aware of the grounds for seeking a court order reducing your obligation versus the suspension of your obligation. Generally, a payor of alimony is entitled to a reduction in alimony payments if there has been a substantial change in his or her […]
Is A 401(K) An Asset Or A Source Of Income?
Consider this scenario: ten years ago, when the parties were still employed and working, the court awarded to each of the parties one-half of the husband’s retirement account. The court also awarded permanent alimony to the wife. Now, ten years later, the former husband has retired and is taking distributions from his retirement account. In […]
Alimony and Supportive Relationships
Those of you who pay alimony should be aware that your alimony obligation could be reduced or terminated by the court if the court determines that since your divorce, a supportive relationship has existed between your former spouse and the person with whom your former spouse resides. In evaluating whether a supportive relationship exists between […]
Gifting The Home To Your Spouse
Let’s assume that, prior to the marriage, John solely owned a home with a mortgage that only he was liable for. After John married Nancy, he had a quitclaim deed prepared by an attorney, and signed over the house to himself and Nancy jointly. The mortgage remained unchanged. Ten years later, John seeks a divorce […]
Attorney’s Fee Provision In Marital Settlement Agreement
If you are involved in a divorce case and settle your case at mediation or at some point in the proceedings before trial, you should consider having a “prevailing party” attorney’s fee provision inserted into your marital settlement agreement. Such a provision provides that if either party has to file an action to enforce the […]
Marital vs. Non-Marital Property And Debt
One of the first things a court is called upon to do in a divorce is to determine what is and what is not part of the marital estate, that is, what things are subject to distribution to the spouses. As a general rule, all property acquired by either or both spouses, and all debt […]