The Tax Man Cometh – And He Taketh Away: Good or Bad?
In most divorce cases, there are tax considerations, such a dependent exemptions. This is sometimes a key concern in divorce cases. As part of the much anticipated tax reform, our financial partners are providing the meaning and impact upon divorcing parties, divorced parties, and paternity cases. This is the focus of this blog post.
The first major change analyzed in this blog is the elimination of the dependent exemption. After years of fighting over the right to claim the child(ren) as a dependant and receive the tax benefit of same, ... Read More
Tag: maintenance
11
Jan2018
31
Oct2017
Under the Divorce Act, the Legislature vests trial courts with great discretion to divide the marital estate in a just and equal manner. One consideration in any divorce is the award of statutory rehabilitation maintenance.
Rehabilitation maintenance1 is much narrower than alimony in many states because it only allows a trial court to award such for up to three (3) years when a spouse needs extra support while obtaining employment-related education or training.
There are four (4) considerations the trial court considers in making such an award:
The educational level of each spouse at the time of marriage and at the time ... Read More
11
Nov2015
Strictly speaking, Indiana is not an alimony state. The term used in legal terms is “maintenance.” Understanding these will help you be a more informed citizen and help your lawyer ask for temporary orders and a final divorce in a way that best meets your needs and is just and equitable.
The first type of maintenance is that the court can award during the pendency of a divorce proceeding when the case is undeveloped for what is fair ultimately order; temporary maintenance for household expenses is very vast and may be modified where necessary before a divorce. Temporary maintenance may even ... Read More
15
May2014
In Indiana, there is no statute or provision for “alimony”. Whereas in other states, a spouse may receive alimony payments after a divorce or legal separation as a type of allowance for support or to maintain a lifestyle, Indiana does not recognize this. However, there are some limited circumstances where a former spouse may be awarded money due to certain conditions/circumstances. In Indiana, this is called spousal maintenance1.
Spousal maintenance can be awarded as a preliminary matter, while the divorce is pending. This often occurs when one party is not working, or is living in the marital residence with all of ... Read More
03
Jul2012
It Isn’t What You Think or Hear on TV about Stars . . .but It is There
Divorce actions routinely involve financial issues presenting as complex determinations of support for children, tax consequences, and asset and liability division. However, one financial issue that may be less common in divorce is the concept of what many think of as “alimony”.
In fact, in Indiana, there is not a type of financial support for a spouse called “alimony”. Indiana has a related legal comparison that is called spousal maintenance, but unlike alimony available in some states, it is restrictive in what and how a ... Read More
17
May2011
There are some slight changes or clarifications in the law. There are two (2) components to the pre-506 and post-506 law. The first is the means by which a handgun is transported to a dealer for repair. The second is the handling (carry) of the firearm when returned at the dealer.
Under the laws repealed (invalidated) by Indiana Senate Bill 506, a person did not need a License to return a handgun to a dealer for repair. However, he or she had to transport the handgun unloaded and in a “secure wrapper” to the place of repair.
The requirements of a ... Read More