There are many news articles out there discussing how the new tax legislation will affect divorcing couples. Many articles claim that the number of couples choosing to divorce this year will increase due to the changes that affect alimony, which do not come into effect until January 1, 2019. While I am not a tax expert, I continue to stay up-to-date with how legislation can affect my clients.

Here is the link to an article explaining the key changes that affect divorcing couples: What Does the 2017 Tax Law Mean for Divorcing Couples?

Couples facing divorce are usually dealing with the fear of the unknown. Changes in the tax legislation can add to that fear, making some couples feel like they need to rush to Court and hurry through a settlement. However, there are other options. Couples can choose a more dignified divorce process, the Collaborative Divorce Process, that allows them to sit down and problem solve with a team of professionals, which can include a financial neutral and tax experts. Restructuring one's family is not something that should be thrown together overnight, but rather, it should involve detailed, well-thought out solutions, unique to each family's situation. Find comfort in having a team of professionals there for you to help you think creatively and plan for the future. If you're interested in learning more, please do not hesitate to contact me and schedule a consultation about your divorce options: (734) 531-8554; jessica@mifamilylawfirm.com.