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Buffalo Divorce Blog

What to know about filing taxes after a divorce

Divorcing your spouse brings with it certain inevitable changes, and one of those changes relates to the manner in which you file your taxes. The government taxes married couples differently from single filers. How you file your taxes will change upon the completion of a divorce.

The more you understand about how divorcing your spouse affects your taxes, the better. Here are some of the key things you should know about filing taxes in the wake of divorce.

Critical steps to take after a divorce

There are many suggested steps to take after a divorce to ensure your new life goes smoothly. These steps include changing a last name back to a maiden name (optional), opening new bank accounts or finding a new place to live. Other items include reviewing various accounts to ensure who the beneficiaries are and ensuring that they are updated. Those accounts include:

  • IRAs and other retirement accounts
  • Life insurance policies
  • Bank accounts

Failing to change the beneficiary designation on these types of assets can lead to confusion in the distribution of the asset and could lead to expensive litigation in the event of death.

What if your parenting plan doesn't fit your holiday schedule?

During your divorce, you and your ex-spouse had to work through some tough issues before finally reaching a custody and visitation agreement. At the time, it appeared to be a good and fair parenting plan.

However, holidays are an exception to regular custody and visitation schedules. There are several scheduling roadblocks that can keep you and your child from getting the most out of your time together if you don't have a holiday plan. What can you do to change this?

Dispelling myths about child support

Parents who have custody rely on child support payments to assist in keeping their children healthy, safe and happy. Many parents who receive child support may have received misguided advice from well-meaning friends and family about how child support payments can be spent, or have been questioned by an ex-spouse about where the child support payments are spent.

Knowing the difference between common myths and truths about child support can give you some piece of mind about how these funds can be utilized. Read on for more information.

Critical steps to take after a divorce

There are many suggested steps to take after a divorce to ensure your new life goes smoothly. These steps include changing a last name back to a maiden name (optional), opening new bank accounts or finding a new place to live. Other items include reviewing various accounts to ensure who the beneficiaries are and ensuring that they are updated. Those accounts include:

  • IRAs and other retirement accounts
  • Life insurance policies
  • Bank accounts

Failing to change the beneficiary designation on these types of assets can lead to confusion in the distribution of the asset and could lead to expensive litigation in the event of death.

Back to school season: Tips for recently divorced parents

Summer tends to be a popular time for divorce. One study conducted by the University of Washington found that in addition to March, August has one of the highest divorce rates in the country compared to the rest of the year.

Couples who finalize their divorce before the beginning of the new school year, can find it difficult and stressful to figure out a good co-parenting schedule for their children. Regardless of the language contained in their child custody and access schedules, there are numerous things parents can do ahead of time to make the back-to-school season go more smoothly. For example, parents could:

Do divorce rates spike in the summer?

A divorce can occur anytime throughout the year. However, there are actually seasonal changes that provoke an increase in the divorce rate. There are several explanations for this, but the fact remains that couples on the edge of divorce are more likely to follow through during certain months of the year.

With summer in full swing, if you and your spouse are considering divorce, you may find that the summer actually exacerbates the possibility of moving forward with this decision. Discover more about this seasonal phenomenon and different factors that come into play.

When you divorce, will you have to pay "manimony"?

The recent release of the documentary film RBG in New York and across the nation has called new attention to Supreme Court Justice Ruth Bader Ginsburg. If you are one of the thousands of people who flocked to see this documentary, you noticed the huge differences between life in the 1950s when she began law school and life today for female law students.

One of the biggest differences and changes is in the area of family law and the changes with the traditional American family. In the past mothers practically automatically received custody of their children in a divorce proceeding. Today the emphasis is on joint custody being awarded to both parents and there is no longer the "tender years" doctrine where mothers had priority over fathers. Likewise, alimony is now called spousal support because courts award it to both men and women. Did you know that spousal support goes by the nickname of manimony when the woman makes these monthly support payments to the man?

3 factors to consider in late-life divorce

It is now more typical for divorce to occur later in life when partners are in their 50s or 60s. Usually these are long-term marriages of 20 years or more. When these marriages end they are known as a "gray divorce". These late-life divorces bring special challenges that couples must consider.

It is important to focus on particular factors when divorcing at this stage in your life. If you are contemplating a so-called gray divorce, a qualified divorce attorney can help you navigate these challenging waters. Here are a few basics to get you started:

3 myths about spousal maintenance that are wrong!

Spousal maintenance, or alimony as many people call it, is often a contentious issue in New York divorces. It is simply the financial support paid to an ex-spouse after a divorce. This topic is complicated further because of the many misconceptions surrounding it.

Clearing up some of the common maintenance/alimony myths can help you get a better picture of what to expect. You should consult a seasoned attorney for personalized advice applicable to your situation because calculations tend to be heavily fact-specific.

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