DEDUCTIBLE FOR THE PAYOR, TAXABLE FOR THE PAYEE — FOR HOW LONG? Alimony, now known in New York as maintenance, has as its premise in the idea that the so-called “monied spouse” in a divorce should make payments to the non-monied ...
Will the new federal tax law alter application of New York’s spousal maintenance formula? Last month when we posted about the tax treatment of alimony (called “maintenance” in New York), the new federal tax bill had not yet passed in ...
HIGH NET WORTH NEED NOT COMPLICATE YOUR DIVORCE — IF YOU HAVE THE RIGHT LAWYER Is yours a high net worth divorce? The U.S. Securities and Exchange Commission(“SEC”) defines a “high-net-worth individual” as an individual with at least $1,000,000 managed by his/her ...
Is an annuity account in your divorce picture? An annuity can seem harder to split than a marriage, according to an article in the May 2016 issue of Research Magazine. An annuity account gives the account holder the right to ...