The message for divorcing couples is clear. If your divorce agreement will include provision for the payment of alimony, deductible to the paying spouse and taxable, as income, to the recipient spouse, you need to have an executed divorce agreement by December 31, 2018. Beginning in 2019, the tax treatment of alimony, in effect…
What is a Property Settlement Agreement? A Property Settlement Agreement is an agreement that memorializes the division of assets and debts between parties prior to a divorce. If both parties sign the Property Settlement Agreement, then it can be incorporated into their divorce. If the parties sign a Property Settlement Agreement, but do not divorce,…