Currently the person receiving alimony pays income tax on the alimony received. The alimony payer is able to deduct alimony payments from his/her income, reducing the payer’s tax burden. Beginning January 1, 2019, any alimony orders issued from that date forward, the tax burden for alimony will no longer shift from the payer…
Let’s face it: The prenup seems so utterly unromantic – or just plain wrong – but it’s also become so right for so many these days: those keenly aware that a marriage may end up in a legal separation, divorce or death. Most prenups tackle financial issues such as real estate, division of bank…