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December 2017 Archives

New tax law changes taxation of spousal support payments

The tax law signed by President Trump just before Christmas will affect many aspects of American life, including the awarding of alimony in divorce cases. The length and complexity of the law will occupy lawyers and accountants for months as they try to come to grips with the law's meaning and implications. The change in the tax treatment of spousal support is simple to state, but the long term ramifications are not clear.

Annulling a marriage in California

Some people in Sacramento who want to end their marriage often ask about the annulling the marriage instead of obtaining a divorce. The difference between a divorce and marital nullity (the technically correct term) is relatively straightforward. A divorce is a judicial proceeding that ends a marriage that was valid in all respects. An annulment is a court order that the marriage was never valid. In other words an annulment treats the marriage as though it never happened.

Using a business appraiser in a California divorce

Many California couples own stock in one or more small businesses. In the event the couple decides to end their marriage, they may need to value the stock they own. If a divorce is not contested as to property division, an appraiser may not be needed. If, however, the spouses disagree on the worth of their business, an appraisal by a qualified business appraiser may be required to establish the value of the business. Some businesses cannot sold without destroying their value, and an appraisal of the value of the business can help the parties or the court divide the marital estate equally.

How to divide the value of a house in a California divorce

For most divorcing California couples, their house is their biggest asset, and the mortgage is likely to be the largest debt. California's community property law does not give couples much latitude in how to divide the equity in the house, but several property division options are nevertheless available.

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