The High Road
Divorce is one of the most financially traumatic things you can go through. Money spent on getting mad or getting even is money wasted. ~Richard Wagner? ?Always take the high road.? You may be wondering why you should take the high road when you sense that your spouse will not. Our answer is that…
Options For Your Divorce
Many people think of only two options when they consider divorce: with an attorney or without an attorney (by yourself, pro per). Today, more and more people cannot afford to pay large advanced fees for an attorney. Yet, many people still need legal help short of retaining an attorney, from beginning to end. Family law…
Not Even the Winners Win in Litigation
A learned judge once said that no one wins in court. By this, he meant that the family loses control of decisions and that the expense is extreme. So, instead of spending money on two separate attorneys, mediation allows the parties to pay for one mediator to resolve all of the issues in the case….
Early Resolution Conference or Resolution Management Conference
There are two different conferences that the court will schedule. The conference that the court schedules will be determined on whether you or your spouse is represented by counsel. If neither you nor your spouse is represented by counsel, the court will schedule an Early Resolution Conference. If either you or your spouse is represented…
Before Divorce and the Impact of the Temporary Injuction
The Response If your spouse/partner filed the action against you, you must file a responsive pleading. You have a time limit, so make sure you know what it is. If you were served in the state of Arizona, you have 20 days to respond, if you are out of state, you have 30 days. Your…
Separation or Divorce?
A common question spouses have is whether they should get a legal separation instead of a divorce. The answer depends on what you are trying to achieve. If you want some financial protection, or you want to continue your health insurance, a legal separation will accomplish both. If you want to get remarried, you need…
Identifying the Tax Consequences of Divorce Part 4
10. Capital Gains Taxes and Appreciated Assets The spouse who winds up owning an appreciated asset (fair market value in excess of tax basis) must recognize taxable gain when it is sold. In other words, if you are the one who ends up with appreciated assets like stock or real property, you’re on the…
Identifying the Tax Consequences of Divorce Part 3
6. My spouse was awarded some of my vested stock options in our divorce. Who pays taxes on what and when? The transfer of an interest in vested stock options incident to a divorce is not a taxable event. However, income is reported when the former spouse exercises the stock options. The specific issue of…
Identifying the Tax Consequences of Divorce Part 2
4. Which parent gets to claim the child as a dependent? Arizona has specific guidelines for the assignment of the federal tax exemption for dependent Children that are established in Section 27 of the Arizona Child Support Guidelines. Here is the relevant text from Section 27: All the federal and state tax exemptions applicable to…
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Scottsdale, Arizona 85253
