July 2018 Archives

New tax law to eliminate tax break for alimony payments

The changes to the tax code will eliminate a break for those who pay alimony. The old system allowed those who paid alimony (also called spousal maintenance) to deduct that amount from their income taxes. The change goes into effect in 2019, but any agreement signed before the end of the year will be honored. 

Are separations financially smart?

The recent death of Anthony Bourdain was a tragedy for his many fans. While many were aware that he had started dating Italian actress Asia Argeto, they didn’t realize that he was amicably separated to his second wife and mother of their daughter.

Wall Street exec to pay $4.1 million before trial begins

Anyone who has gone through divorce knows that it is never as easy or straightforward as it could be. Moreover, divorce involves many financial challenges for couples who have large and complicated estates. An extreme example of this is when an appellate court judge ordered hedge fund manager Remy Trafelet to pay $600,000 in 2017 and $3.5 million more in 2018 to his wife Lara as an interim fee while the divorce is litigated.

How can I know if it's time to divorce my spouse?

There is no such thing as a perfect marriage. Even those New York couples who seem to have it all together in public likely have their secret disputes and conflicts. You may be among those people, or you may have deeper issues with your spouse. Perhaps you are having more rough patches the longer you are married, or perhaps your spouse's behavior is becoming increasingly difficult to excuse.

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Keith B. Schulefand, Esq.
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Williamsville, NY 14221

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