Individuals contemplating divorce often feel it is time to move on but are unable to do so because they may not be able to survive financially. Instead,
these couples live separately but remain married, counting on the other party’s benevolence to protect and preserve marital assets. If the objection
to the divorce is religion-based (i.e. your faith does not recognize a divorce) some couples feel this voluntary married-but-separated arrangement
keeps them within the confines of their religion without addressing the elephant in the room. If money is a concern prior to filing for divorce,
it will only grow if the parties separate without legal protections.
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Can I Afford to Divorce My Spouse?
Are Garnished Spousal Maintenace Payments Collected Pursuant to a Judgment Tax Deductible?
When a couple divorces or separates, one partner will often have to pay the other partner alimony or spousal support payments. Under the Internal Revenue Code, these spousal maintenance payments are tax deductible if certain conditions are met. What if one partner obtains a court- ordered judgment to collect upon missed payments? Are payments made pursuant to a judgment still tax deductible? One Colorado ex-husband argued that they were, but the United States Tax Court held differently. READ MORE...
Colorado’s New Alimony Law For Divorcing Couples
Divorce can be a stressful, emotional event for the husband and wife, as well as other family members. Divorce is a complicated process that requires the detailed attention and care of an experienced divorce attorney. During the divorce process, there are a variety of issues that need to be resolved, including alimony (now referred to as ‘spousal maintenance’), child support, distribution of marital property, child custody, and parental visitation rights. Separately, each of these issues involves a multitude of questions and concerns, which may further complicate or delay the divorce process. READ MORE...
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