Practical perspectives for contemporary legal challenges.
Divorce can be a stressful and emotionally draining time. However, knowing when and how to communicate with your legal team can help to alleviate some of the stress. Here are a few tips for ways to best communicate with your lawyer. Avoid communicating on minor issues that are out of the control of your lawyer. Most …
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The Generation-Skipping Transfer (“GST”) tax is designed to prevent taxpayers from avoiding estate tax on a child’s inheritance at the child’s death by “skipping” inheritances over children to grandchildren. Each person currently has a lifetime GST exemption amount of $11,400,000 (in 2019, and indexed for inflation). If you make a transfer during lifetime or at …
Continue reading “Automatic Allocation of GST Tax Exemption”
A common misperception arises as to when child support amounts change. As a general rule, parents are required to exchange tax returns each year during the period of time that child support is owed. Doing so and keeping an eye on the gross income of both parents can be important in determining whether any action …
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The answer to this question varies by state. There is usually a statute or rule of law directly on point that gives a clear answer. But there are a number of other court decisions and laws that can affect the answer and make it an area worth looking into closely if you are either paying …
You have just come from your lawyer’s office and now wonder whether you really understood everything that was being said. There are special terms used throughout a divorce proceeding that you will hear, and often times as practitioners we forget that the terms, while familiar to us, are not familiar to you. The following is …
Continue reading “Divorce Speech. Understanding the Terminology?”