The dissolution of marriage is one of the most stressful and difficult experiences you may face. The COVID-19 pandemic has made the already challenging and uncertain journey of divorce more complicated for families and their advisors.
Practitioners and their clients need to be aware of the new tax treatment of alimony – and its implications – when planning a divorce. President of Family Wealth for Wilmington Trust’s Eastern U.S. Region, Sharon Klein, shares her insights on how today’s tax laws are reshaping the divorce landscape with Editor in Chief of Trusts & Estates magazine, Susan Lipp, at the 54th Annual Heckerling Institute on Estate Planning.
This article reprint was published in the October 2019 issue of New Jersey Business and provides an overview of protecting assets with a prenuptial agreement. Issues such as the legal aspects of creating a prenuptial agreement are discussed.Financial arrangements and child custody considerations are also covered.The authors offer a reminder that lack of proper pre-marital planning, particularly for business owners, can be disastrous.