News

What Questions to Ask About 529 Plans and the New Tax Act When Preparing a Divorce Agreement

In cases involving children, it is commonplace for divorce agreements to include provisions governing the payment of college expenses. This may include terms governing any existing 529 college savings plans. The new tax act now considers qualified expenses under 529 plans to include elementary and high school

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How Personal Goodwill Affects Business Valuation in a Divorce

I have been asked to value professional services businesses (law firms, accounting firms, medical practices, engineering firms, consulting firms, etc.) in a number of instances for marital dissolutions in Bucks, Chester, Delaware, Montgomery and Philadelphia counties. When performing such valuations, it is important to consider the personal

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Using Life and Disability Insurance to Protect Alimony

Parties that are crafting an alimony settlement should consider the future consequences of an interruption of the negotiated income stream. Alimony is dependent on the capacity to pay a stream of income from one party to another. If the alimony is sourced from earned income, then there

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When Is A Dollar Not A Dollar?

As a financial advisor, I think one of the most confusing aspects of money is that not all of it works the same way. This becomes much more apparent in the divorce process for property distribution. Many of my clients are surprised to find out that often

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SEPARATION, DIVORCE AND THE MARITAL RESIDENCE

The discussion about division of assets initially revolves around the marital residence, as jointly owned real estate and retirement are perhaps the most significant marital assets subject to distribution in a divorce. The decision whether to retain or sell the residence can be laden with emotion and

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Collaborative Divorce Helps Couples Plan a Future Apart – The Legal Intelligencer Spotlight

Collaborative divorce in Pennsylvania supported by trained Collaborative Law Professionals can help couples resolve common family law issues pertaining to divorce. Divorce lawyers have learned that when spouses can work together they can create a healthier and less devastating divorce outcome. The legal community has practiced and

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What You Need to Know About Alimony Payments and Recent Tax Changes

Prior to the December 2017 Tax Cuts and Jobs Act (TCJA), when one spouse paid alimony (or separate maintenance payments) to the other spouse in a divorce, the paying spouse could deduct the alimony payments on his/her Federal income tax form. At the same time, the spouse

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A Tale Of Two Kitties

There were two female cats who were best friends.  Unfortunately the both of them were experiencing problems in their marriages.  They were unsure what to do next but knew they couldn’t stay in their current situation.  The one cat,  Princess, heard she should hire the most expensive,

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Your Way, My Way, Our Way, Three Way, Anyway: The Benefits of Collaborative Practice for Non-Traditional Families

Whether you grew up watching 90210, Real World or MTV Beach House, today’s modern families are evolving beyond what was even in the 1990’s considered abhorrent or abnormal family life given that these shows addressed such topics as homosexuality, bisexuality, AIDS, drugs, addiction and abortion. Same sex

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Pennsylvania Legislature Recognizes Collaborative Law

In keeping with other States, the Commonwealth of Pennsylvania, by the stroke of Governor Tom Wolf’s pen, signed into law the Pennsylvania Collaborative Law Act, on June 28, 2018. This action by the Governor served to recognize the validity of this alternative divorce process. Collaborative Law is

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