Divorce’s Lasting Effects
Posted on 24. Apr, 2009 by Alabama Divorce Lawyer, Jim Jeffries.
The Washington Times posts an interesting article here on the effects of divorce on children.
The brief article addresses two different views of divorce held by researchers on the effects of divorce on children. Elizabeth Marquardt takes the position that parents should fight harder to save their marriages because of the effects that it has on [...]
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Traps to avoid when things get ugly
Posted on 24. Apr, 2009 by Alabama Divorce Lawyer, Jim Jeffries.
MSNBC has posted an article on traps to avoid if things get ugly. It is called Covering Your Assets in a Divorce. It generally contains good advice, but here’s my favorite quote: If you want to be smart about divorce, do your homework and keep your emotions out of it. Splitting is rough enough without [...]
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Financial Implications of Divorce
Posted on 24. Apr, 2009 by Alabama Divorce Lawyer, Jim Jeffries.
I came across this article from the St. Louis Post-Dispatch. It is has some very good advice about the financial implications of divorce. I especially echo the advice regarding both spouses having a complete understanding of household finances. Not only is it helpful in the case of a divorce as this article points out, but [...]
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Top 10 Mistakes Made in Divorce
Posted on 24. Apr, 2009 by Alabama Divorce Lawyer, Jim Jeffries.
The Indy Star has this article posted today. It focuses on the top 10 mistakes that men in divorce make and the top 10 mistakes that women in divorce make.
The article does contain some nuggets of wisdom so I offer it for your consideration. But, also consider these two caveats: (1) some of the advice [...]
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Divorce spikes in January
Posted on 24. Apr, 2009 by Alabama Divorce Lawyer, Jim Jeffries.
The commonly held opinion among many divorce professionals is that the month of January sees an inordinate amount of people filing for divorce. This article at Market Watch gives some possible reasons why that is so and discusses the first steps divorcing couple should take.
The article is worth a read. Among my favorite of their [...]
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Lesson: Get Retirement Money Immediately
Posted on 24. Apr, 2009 by Alabama Divorce Lawyer, Jim Jeffries.
The Alabama Court of Civil Appeals recently issued an opinion in Buchanan v. Buchanan which addressed the issue of market fluctuations in retirement accounts. The facts in the case are common: husband and wife divorce, wife is awarded 50% of husband’s retirement account, the parties and/or their lawyers do not process the Qualified Domestic Relations [...]
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Tax Time Tips for Newly Divorce/Separated
Posted on 24. Apr, 2009 by Alabama Divorce Lawyer, Jim Jeffries.
It is time to start thinking about getting tax returns filed. This article contains ten tips for tax payers who have recently separated or divorced. It covers all of the basics including filing status, tax credits, etc.
Also, if you want more in depth information, go to www.irs.gov and download publication 504, the tax guide for [...]
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Debt and Divorce
Posted on 24. Apr, 2009 by Alabama Divorce Lawyer, Jim Jeffries.
A recurring issue in my divorce practice is how to address joint indebtedness. Often the parties will agree that one party or the other will pay and be solely responsible for a debt that is in the parties’ joint names.
However, what most of my clients do not realize is that even if their spouse if [...]
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Signing a Joint Return? Read This First
Posted on 24. Apr, 2009 by Alabama Divorce Lawyer, Jim Jeffries.
A March 15, 2006, Wall Street Journal article points out the difficulty that spouses and former spouses are having in seeking Innocent Spouse Relief from the IRS. When you sign a joint income tax return with your spouse, you and your spouse are jointly responsible for the taxes, interest or penalties on those returns unless [...]
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Katrina Relief – Extension to File Income Taxes
Posted on 24. Apr, 2009 by Alabama Divorce Lawyer, Jim Jeffries.
The Internal Revenue Service recently issued a Notice (2006-20) which postponed deadlines for filing certain tax returns and the payment of taxes until August 28, 2006, for those affected by Hurricane Katrina.
The Notice applies to eleven Alabama counties, including Baldwin and Mobile counties. If you are considering utilizing this option, contact your tax advisor to [...]