Tax Issues in a Divorce

Understanding Divorce and Tax Concerns in South Florida

Even after your divorce, taxes need to be paid. The tax responsibilities in a high asset divorce should not fall squarely on the shoulders of one individual. An experienced Florida family law attorney can help you figure out a tax plan that works for your family. At the Fort Lauderdale Law Office of Serena Carroll, we will help you figure out what the tax consequences of your divorce settlement will be.

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Even if you include an agreement about IRS division in your divorce settlement, you will have to settle all your tax issues before your final divorce hearing. Even if you have come up with a fair plan regarding property division and support, you still may not have equitable distribution after taxes are considered. We can answer all your questions about how tax implications will affect your divorce settlement.

Every aspect of your financial situation is affected by taxes. You will want to consider the tax consequences in the following areas:

• Real Estate
• Property Division
• Business Valuation
• Child Support
• Alimony

The more taxable assets involved in a divorce, the more complicated the division of marital property. As your lawyer, Serena Carroll wants to make sure you get the best results in every area of your settlement. In complicated cases, that means working with tax experts who can handle the challenges of an income that fluctuates a lot, or someone with a lot of stock splits and dividends.

Child Support and Alimony

Alimony is taxable to the person who receives it unless an agreement is reached otherwise. You and your spouse can come up with a plan that benefits both parties, making the tax consequences a deducible to the person paying support.

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Your initial plan may look perfect on the surface, but how will it affect your tax liability. At the Fort Lauderdale Law Offices of Serena Carroll, we can help you develop a tax plan that works in your divorce. Contact us today for more information.

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