In my last two columns, I addressed the grief and loss process experienced by couples during separation and divorce. But what do the children experience? At a time when so many marriages fail, it is important to understand how youngsters are affected by the loss. Children of divorcing parents go through the same four stages…
Archives for June 2014
How Are Pets Handled In Divorce?
Researchers estimate that about 50% of American marriages end in divorce. They also say that 62% of American households include at least one pet. So, it seems reasonable to conclude that many divorcing couples are pet owners. But when a married couple calls it quits, what happens to their furry friends? Sometimes, the decision isn’t…
Why your engagement ring was a bad investment
According to the Journal of Accountancy, the IRS has increased resources devoted to scrutinizing alimony. As is well known amongst divorcing individuals and financial professionals, the tax code allows the payor of alimony to deduct it from taxable income, while the recipient must include it in taxable income. So if Kevin pays Kate $30,000 of…
The IRS thinks you are cheating on your alimony
According to the Journal of Accountancy, the IRS has increased resources devoted to scrutinizing alimony. As is well known amongst divorcing individuals and financial professionals, the tax code allows the payor of alimony to deduct it from taxable income, while the recipient must include it in taxable income. So if Kevin pays Kate $30,000 of…
Paying for Children’s College Costs After a Divorce
In a divorce, it is not uncommon for child-related issues to be disputed. Issues such as child custody, parenting time, and child support, can become very heated and contentious issues. However, there are other important issues related to children that can sometimes be overlooked or forgotten in a divorce. One example of this is paying…
Calculating Child Support When One Parent is Unemployed or Underemployed
In Massachusetts, child support is calculated based upon the Child Support Guidelines. The Child Support Guidelines use a mathematical calculation to determine a child support obligation based upon each parent’s gross weekly income, as well as the number of children for the child support order. When these numbers are entered into the formula, a number…
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