Search results
Results from the WOW.Com Content Network
Income splitting is a tax strategy of transferring earned and passive income of one spouse to the other spouse for the purposes of assessing personal income tax (i.e. "splitting" away the income of the greater earner, reducing his/her income for tax measurement purposes), thus reducing the tax paid by the spouse who earns more and increasing the tax paid by the spouse who earns less, with the ...
Dividing debt during a divorce can be as challenging as separating assets, and it requires a clear understanding of state laws, the nature of the debt and each spouse’s financial situation.
You could be eligible for some tax breaks once your divorce is finalized. Keep reading to learn about what they are and how they may apply to your situation. 7 Overlooked Tax Breaks After Divorce ...
Divorce is always complicated – emotionally and financially. While a lot of the focus in a divorce goes to dividing assets, figuring out who is responsible for various debts can be just as ...
A divorce settlement entails which spouse gets what property and what responsibilities once the marriage is over. "It deals with child custody and visitation, child support, alimony, health and life insurance, real estate, cars, household items, bank accounts, debts, investments, retirement plans and pensions, college tuition for children, and other items of value, such as frequent flyer miles ...
Premarital agreement is an agreement that two individuals signed to distribute marital rights and obligations of each individual during marriage, after divorce, or death of one spouse. [20] Uniform Premarital Agreements Act (UPAA) was issued by the Uniform Law Commission (ULC) in 1983 and has been employed by 27 states. [ 21 ]
Post-divorce, an advisor can help you create a new financial plan, establish a budget as a single person, help you understand the tax implications of selling assets and provide guidance on how to ...
Redistribution of income and wealth is the transfer of income and wealth (including physical property) from some individuals to others through a social mechanism such as taxation, welfare, public services, land reform, monetary policies, confiscation, divorce or tort law. [1]