California Divorce Guide: Finances After Divorce |
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Finances After Divorce Links for finances after divorce . . .
Divorce Library
Prenuptial Agreements
... Agreements, and Divorce (MasterMedia, $12.95), an agreement can be specifically tailored to the couple's needs and wants. Finances are generally the main focus, but even the pettiest details can be included. "One client insisted the toilet seat be put down," ...
http://www.californiadivorce.info/dm.legal.miscellaneous.pre-nuptial.htm
Save Taxes During Life's Transitions
... the benefit of your children. This trust is helpful if you don’t believe your children will be capable of handling their finances when they are older. This trust also helps to move money out of your estate in case your estate does become taxable. As you can ...
http://www.californiadivorce.info/money.taxes.estate-planning-will-never-die.htm
Getting Your Financial Life Back on Track After Divorce
... check comes late. Accept your financial situation, know your legal remedies, and pursue them with dogged detachment. Focus on Finances It’s hard to be optimistic about a shaky financial future. If you are disoriented financially, this is the right time to get a ...
http://www.californiadivorce.info/money.independence.backontrack.htm
Today's Article from the Divorce Library INNOCENT SPOUSE AND THE IRS During your marriage you will probably have filed a joint tax return. Upon your divorce or even years later you may regret having signed a joint tax return when the IRS audits your joint returns. When you filed a joint federal tax return jointly the law says that you are both liable for any taxes due along with any interest or penalties. That means the IRS can ask you to pay for the errors of your spouse -- even after divorce. Under the newly-reformed "innocent spouse" laws there are now three ways to obtain innocent spouse relief: Expanded Innocent Spouse Relief, Separate Liability Election and Equitable Relief. A. Expanded Innocent Spouse Relief To qualify for Expanded Innocent Spouse Relief, the following requirements must be met:
B. Separate Liability Election Taxpayers may be able to show they should only pay for the part of any tax liability based on their allocation of tax items -- as if they had filed a separate tax return. C. Equitable Relief The new Equitable Relief Measure is designed to help taxpayers who do not qualify for the other two measures discussed. It may help a spouse who was unaware that the tax due was not paid when the joint return was filed. If you feel that you are a victims of a joint return deficiency you should contact their tax advisors or attorney to see if they may benefit from one or more of the changes in innocent spouse relief. If you live in Southern California, and would like advice about finances after divorce or other family law or estate planning issues, please setup an initial divorce consultation today. Would you like to know more about finances after divorce?
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