Dannenbaum Law Firm, PLLC

August 2017 Archives

Divorce mistakes with lost alimony deductions

Virginia couples headed toward divorce may want to learn all they can about property division requirements under state law and the tax consequences of dividing various assets. In addition to saving money for both parties, this information could also be useful during negotiations. One of the typical provisions of a divorce agreement is spousal support. Couples may use the beneficial tax status of alimony to harmonize other aspects of property division.

Determining whether to go through mediation or not

Once the decision to get a divorce has been made, estranged Virginia couples will need to determine how they want to go about actually ending their marriage. If the couple is able to work together, mediation may be an appropriate method. However, it should be noted that it will not work for everyone.

Financial planning for an impending divorce

When a marriage is stable, couples usually feel that their financial life is also completely joined. This often results in blurred lines when it comes to making financial decisions and sharing financial information. However, as some Virginia couples know, when a divorce is a possibility the financial aspects of the relationship can become very complicated.

The accuracy of child support calculators

Virginia parents going through a divorce may turn to child support calculators to get an estimate of how much they will pay when it comes to child support. However, parents should be aware that these can have flaws and may give a different amount than what the judge eventually orders.

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