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June 2011 Archives

Divorce and Taxes

Property division, alimony, mortgage interest payments, real estate taxes and dependency exemptions are just a few of the most common areas of contention in a divorce case. These issues also present daunting tax consequences which must be addressed during a divorce proceeding. Divorcing parties should consult with their tax advisor relative to their tax filing status for state and federal income tax returns. If the parties have children, the issue of the dependency exemption can offer quite a financial benefit to the declaring party. If you are going thru a divorce (and a taxpayer), be sure to consult with an experienced attorney and your tax advisor regarding what may or may not be owed to Uncle Sam. 

The 35 Minute Walk.

These days it takes a lot to humble me. I've been exposed to such extremes in my profession over the years that seldom do I come across something or someone that makes me ... well... just shut up. Caught in the ongoing drive for material success, better cars, clothes and the latest ideation from Apple, I think its fair to say a good majority have become numb to the guilt of immorality and "self-centeredness." Most times I can shut the door, walk away and erase that troubled encounter that should have caused me pause.Read more » 

Comparing Death and Divorce -Financially Speaking.

Anyone who is contemplating a Massachusetts divorce should begin by educating themselves about the nature and extent of assets and debts of the parties. Many spouses are indeed in the dark when it comes to their family's finances, often having deferred to one spouse to handle the "checkbook" over the years. The time to educate oneself should not be in the midst of a divorce case. Think of it as a business transaction and try to remove emotions from the mix. Take some time to prepare yourself by examining asset and account values, tax returns, paystubs and mortgage statements. Most family law lawyers will expect some details of the family's financial estate at the first meeting. 

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Roncone Law Offices, P.C.

142 Main Street
Leominster, MA 01453

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