Posted on October 30, 2017
by
Joanie Stein
Among the many financial and emotional issues that couples will encounter on their road to a divorce are the implications that a final dissolution of marriage will have on their taxes. Following are some important tax-related issues for separated and divorcing couples to keep in mind. Tax Filing Status Legally separated and divorced couples have […]
Posted on January 13, 2017
by
Joanie Stein
Couples who separated or began the process of divorce during 2016 should remember that their marital status will affect their individual tax filings in April 2017. Following are some tax tips to keep in mind. Name Change. Individuals who change their names after a divorce must notify the Social Security Administration (SSA) by completing Form SS-5, […]
When second marriages result in the blending of two families, a complicated financial picture may emerge. Couples coming into a second or third marriage bring with them ex-spouses, children from previous relationships and financial responsibilities, assets and liabilities that may carry deep emotional attachments. Addressing these delicate issues from the onset will help newly blended […]
Posted on May 12, 2015
by
Joanie Stein
Saying “I do” is a significant life event that will lead to many changes along the road to happily ever after. Among these changes are a range of legal and financial issues that couples should address as early as possible. Change in Name Individuals who elect to take the last name of their new […]
Posted on April 22, 2015
by
Sandi Perez
According to a 2014 study by Bowling Green University’s National Center for Family and Marriage Research, the divorce rate for Americans over 50 has doubled since 1990. For those over 65, the rate is even higher. With this rise in graying divorces comes an assortment of unique challenges related to divvying up assets, including often-sizable […]
The emotional rollercoaster one endures during and after a divorce can be debilitating. Equally devastating are the financial fallouts that can ensue from these life transitions. However, there is a ray of sunshine beyond the storm when women assess the facts of their newly single life and take the time to re-establish themselves while […]
Posted on August 14, 2014
by
Adam Cohen
The Supreme Court recently made a distinction between Individual Retirement Accounts (IRAs) that an individual owns and funds during his or her lifetime and those that one inherits from a family member. Specifically, the court excluded inherited IRAs from bankruptcy protection, arguing that such accounts lack the retirement-planning aspects of owner-funded plans. Moreover, because beneficiaries […]
Posted on June 02, 2014
by
Adam Cohen
Giving to charity helps non-profit agencies carry out their missions and can provide donors with a deduction that reduces their annual taxable income. However, the IRS provides specific rules governing how these charitable contributions can lower individuals’ tax bills depending on the type of donation, its value and the taxpayer’s income. 1. Make donations to […]
Rarely is estate planning a one-time endeavor. As the world evolves, so too do families and their circumstances. Grandchildren are born, children divorce and remarry, and decisions made yesterday may not be applicable tomorrow or into the future. Additionally, with the passing of time, new laws are enacted that affect the intended tax and legacy […]
