Can I Write Off Spousal Support Payments on My Taxes?
Divorce brings enough financial changes without the added confusion of shifting tax laws. If you’re paying or receiving spousal support, it’s important to understand how these payments affect your taxes, especially in light of recent changes. Under the old rules, spousal support payments were deductible for the payer and taxable for the recipient. However, for…
Read MoreDivorce and Small Business Owners
Divorce brings unique challenges for small business owners. You face the emotional toll of a marriage ending, and your business may also hang in the balance. When personal and professional lives intersect, untangling them involves more than just splitting assets. A divorce can risk business ownership, cash flow, and future growth. Navigating this process requires…
Read MoreCan a Child Choose Which Parent They Want to Live With?
When navigating the complexities of child custody, one question often arises: can a child choose which parent they want to live with? This topic is especially relevant for families in Barrington, Illinois, where understanding local laws and the factors that influence custody decisions is crucial. Let’s explore the details surrounding this important issue. Reach out…
Read MoreCommon Misconceptions about Prenups
Prenuptial agreements have a bad reputation, largely because of common misconceptions. Many believe these agreements are only for the wealthy or that they signal a lack of trust between partners. In reality, a prenup is simply a practical tool for clarifying financial matters before marriage. Misunderstanding what a prenup does—and doesn’t do—prevents many couples from…
Read MoreDo I Need an Attorney to Get a Divorce?
Yes. Let’s go over why you need to work with a divorce lawyer and what a divorce lawyer can do for you. If you’re considering divorce or in the early stages, talk to a divorce lawyer to understand your options. A divorce lawyer can give you advice tailored to your circumstances and protect you during…
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