Creative Family Solutions, Cecil Cianci Law, PC
Speak with one of our attorneys today: 916-756-4012 VISA | MasterCard | American Express | Discover

If you were not able to finalize your divorce before midnight on New Year’s Eve, you will have to face the new laws that went into effect on Jan. 1, 2019. You have many concerns to address, especially if you and your spouse are dealing with a high-asset divorce.

Whether you are a physician, CEO, public official, athlete or small business owner, divorce and the resulting property division may seem overwhelming. Here are four new concerns to keep in mind, courtesy of the new tax laws.

1. A change in alimony taxes

One of the big changes for 2019 will affect alimony, sometimes called spousal support. Prior to 2019, the party who paid alimony was able to claim a tax deduction while the payee had to pay tax on the amount received. The new law reverses that, and the recipient may receive less alimony than before.

2. Taxing the family home

The family home is always a big issue in terms of property distribution. The new law reduces the deductibility of your property taxes as well as the amount of mortgage that will qualify for a deduction of interest.

3. Losing the multiplier for children

The new law throws out the personal exemption for 2018 to 2025. You will not be able to use a multiplier for your children in terms of a tax return deduction. However, the parent who claims the kids in the divorce may be eligible for child tax credits, which are more generous under the new law.

4. The risk to your prenup

Your prenuptial or postnuptial agreement may play a role in your divorce, but you should have your attorney review this document. The new tax law may serve to neutralize some of the items. and in view of your divorce, updating may be necessary.

No Comments

Leave a comment
Comment Information
  1. AV Peer Review Rated
  2. Listed In Best Lawyers | The World's Premier Guide
  3. BBB
  4. Avvo Rating 10.0 Superb
  5. Avvo Rating Guidance The Right Lawyer

Arrange A Consultation About Your Needs

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Roseville Office
1504 Eureka Road
Suite 320
Roseville, CA 95661

Phone: 949-207-7637
Fax: 916-797-1399
Map & Directions

Aliso Viejo Office
120 Vantis
Suite 300
Aliso Viejo, CA 92656

Phone: 949-207-7637
Map & Directions