June 2017 Archives

The requirements for an alimony tax deduction

When Texas couples are ending their marriage, they should consider the possible tax consequences before executing a settlement agreement. A case decided in U.S. Tax Court illustrated the importance of documenting all spousal support payments within a legal agreement in order to receive a tax deduction for the expense.

How to prepare financially for a divorce

Texas couples who are ending their marriages may need to take stock of their financial situation and make plans for how they will handle those finances both during and after the divorce. It may be better to take advice from legal and financial professionals than from friends and acquaintances who have been through divorces before. Different situations may require different solutions.