Recent changes in family law are rippling across the nation, and may very well affect you and your marriage situation as well. A newly enacted change in the way alimony is handled will be significant in countless divorces, any of which occur after the date of which this modification takes effect--December 31, 2018. Essentially, any divorces finalized after the end of 2018 will lose the deductibility of spousal maintenance to the payor spouse and will no longer require the recipient spouse to declare any alimony or spousal maintenance as income.
The purpose for this change is because the general idea is those who are paying alimony are in higher tax brackets than those who are on the receiving end of alimony, in which this law attempts to eliminate the divorce subsidy. This Act means alimony will essentially no longer be income for the recipient, which has the potential to greatly affect your life following divorce.
This is why it is essential, if you plan on a divorce, you do so before the end of the year--your financial future may be at stake. Whether you are the recipient or the payee, it is important you proceed with your divorce as closely-informed and guided as possible.
Contact Our Dedicated & Determined Staten Island Divorce Lawyers Today
At Casella & Casella LLP, our trusted and skilled Staten Island divorce attorneys seek to make your divorce process as seamless as possible. Regardless of any complexities which may arise in your particular situation, it is important you don’t settle for any less than what you deserve. Our legal team will do everything in our power to protect and promote your best interests above all else.
Please don’t hesitate to schedule an initial consultation with a member of our team by calling (718) 557-9137 at your earliest convenience.