How is child support determined in the State of Connecticut and what is considered Income for purpuses of Child Support. The child-support guideline is just that. A guideline. First, we need to look carefully at the parties income. What is mom's gross income per year? What is dad's gross income per year? We look at most recent income statements, last year's tax returns, and my absolute favorite, social security statements.
Many divorcing spouses in Connecticut or clients seeking a legal separation whether in the New Haven Court, Hartford Court, New Britain or Tolland, or any other Connecticut Court, ask a variety of tax-related divorce questions. Is Alimony and Child Support taxable?
Many divorcing spouses or clients seeking a legal separation, ask a variety of tax-related divorce questions. Here are some divorce-related tax issues in a Connecticut Divorce. Once such questions is as follows:What Assets Divided in a Connecticut Divorce are Taxable?
About 90% of U.S. businesses are family owned so it’s no surprise that one of the first questions divorcing couples ask themselves is, “What is the business worth?” Obviously, both parties to want as much as they can get which often leads one party to undervalue the business and one party to overvalue the business. You can easily see why agreeing on the value of a business can be one of the most contentious and expensive issues in a divorce.
Getting divorced is challenging enough without worrying about money, but did you know you can access your 401(k) to pay some bills? In this post I discuss why you might want to use a 401(k) to help pay for a divorce and how to use QDRO to do that.
There are many reasons why families in the midst of a divorce need quick access to cash. These reasons can include:
There are two fundamental approaches to dissolving your marriage.
The first, most common approach is divorce litigation. This is when you and your attorney square off against your former spouse in front of a judge to determine child custody, child support, alimony, and other issues. It’s a contentious, painful process that is expensive—not only in attorney fees—but in the cost to you, your children, and your emotional stamina.
It’s not uncommon for couples to choose a legal separation before filing for divorce. Legal separation defines legally enforceable rights and obligations but does not permanently end the marriage.
If you decide to become legally separated, here are four things you need to know:
If you are planning a divorce or legal separation in Connecticut, one important questions need to be resolved. In this post, we’ll address a couple of common questions we get about the practicalities of divorce.
“We want a divorce but we can’t afford two homes. What can we do?”
In today’s cash-strapped world, many couples are willing to find creative ways to legally separate—even divorce—but still temporarily live together.
My spouse and I are getting divorced. We have small children and would really like to keep things quiet and civilized. I’ve been reading about divorce mediation and came across something called Alternative Dispute Resolution. What is it, and how can it help with our divorce?
A prenuptial agreement is a financial planning tool that determines how a couple splits their assets in the event of a divorce. The prenuptial agreement does not cover child custody issues, child support, or visitation rights. If you have children, it is important that you consult with a divorce attorney or divorce mediator.