The following is a guest post from Ed Lyman, a trial and appellate attorney at Walzer Melcher LLP who handles complex dissolution of marriage and domestic partnerships for high net worth individuals.
Family law attorneys and accountants are struggling to grasp the impact of the GOP’s tax overhaul on divorces. The biggest changes that affect divorcées is the repeal of various deductions, the creation of new ones, large tax cuts for business entities, and eliminating many exemptions. These changes require special attention when calculating alimony, child support, and division of marital assets. Continue reading
Support issues are difficult enough when the parties are solvent, but what happens when one of the spouses goes through bankruptcy? Can support obligations be discharged? And on the other side, can the receiving spouse still collect if he or she files for bankruptcy?
A couple gets divorced and one is ordered to pay spousal support to the other. But then the one getting support hits the lottery, inherits a lot of money, or has some other financial windfall. Is the support payer off the hook? Continue reading
It’s popular knowledge that remarriage is the death knell to spousal support, but did you know that cohabiting can also affect spousal support? With love and plans to live together floating around on this Valentine’s Day, it’s wise to consider this financial reality. Continue reading
Before they could legally marry, many long-term same-sex couples thought of themselves as “married,” but if these couples did marry when they were able to and then got divorced, they learned that California law doesn’t think the same way.
After a divorce, both parties want to continue to live in the style to which they have become accustomed. And California law supports this desire by requiring courts to base spousal support awards on the standard of living established during the marriage. Fam C §4330(a). Ah, but the rub can be in determining what exactly was the marital standard of living. Continue reading