Kevin Qualls Family Law
Maintaining Professionalism. Preserving Civility. Finding Answers. Practical Guidance On Important Divorce And Custody Matters

September 2016 Archives

How are spousal support payments treated for tax purposes?

When it comes to paying or receiving spousal support (also known as alimony) in Orange County, it is important to understand how these payments will be treated when tax time rolls around. Per the Internal Revenue Service, the person receiving spousal support payments must report them as income for federal income tax purposes, and the person paying spousal support can deduct it from his or her income for federal income tax purposes. It is not necessary to have itemized your deductions to deduct spousal support. Therefore, it is important to understand what constitutes spousal support for federal income tax purposes.

Property division in a divorce can lead to disputes

Deciding to end a marriage in California can be tough on a person's emotions, particularly when it comes to property division. People often have a sentimental attachment to certain pieces of property or may have strong feelings as to what property is "theirs." They want to see both that their property is divided fairly, but also that they are not "short-changed" when the divorce is finalized.

How is property division handled in a California divorce?

When a couple decides to divorce, they may have accumulated years, or even decades, worth of tangible property, such as furniture and automobiles, and intangible property, such as stocks and bank accounts. During the divorce process, a couple's community property will generally be split, although there are some exceptions. However, separate property is not divided in a divorce. Therefore, it is important to understand the difference between community property and separate property.

What topics can be included in a prenuptial agreement?

Marriage is a time of romance, and Orange County couples getting ready to marry may be more caught up in their wedding plans than on their married life after the ceremony is over. One thing they may want to consider, however, is drafting a prenuptial agreement (prenup). While prenups are not romantic, they are practical, especially if the marriage does not last.

Avoid these pitfalls when dividing debts in a California divorce

When a California couple decides to end their marriage, they likely understand that their property, such as automobiles, furniture, electronics or even their home will be divided. However, what they may not initially know is that their debts will also be divided. Moreover, there are special concerns that they should take into account when it comes to dividing debts in California.

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