The National Defense Authorization Act for Fiscal Year 2017 made some important changes to federal law. These changes will impact dividing military pensions for certain service members. Those who have not yet started drawing retirement benefits will be affected. A recent Supreme Court case may also affect how much a former spouse of a service member can receive via a divorce order. …
Tax Law Changes May Affect Your Divorce
Tax Reform Act Becomes Effective 1/1/18 Major tax law changes will take effect on January 1st. Here are a few things to know if you divorce during 2018 or thereafter: Major Changes to Alimony Deduction The most striking change in the new tax act for divorcing couples is on the deductibility of alimony. Previously, alimony was usually deductible by the …
QDROs
There are many timely steps involved in receiving your rightful benefits after a divorce. When your divorce decree grants you a portion of a former spouse’s retirement benefits, you should be aware that there are certain time constraints on taking action to get those benefits transferred. Delays cost money and, in some cases, could prevent you from receiving all or …