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September 2017 Archives

'Gray divorces' often leave women in poverty

So-called 'gray divorces' between senior citizens frequently leave the wives impoverished, according to a study done by sociologists at Bowling Green State University in 2010. The women discover to their chagrin that meager Social Security benefits are insufficient to meet their basic needs.

Who can benefit from a postnuptial agreement?

Undoubtedly, you have heard of prenups, which are premarital agreements that determine ahead of time the terms of your divorce, particularly asset division. Creating a prenup comes with the benefits of establishing open communication, securing your financial future and preventing fighting over property in the event of divorce.

Military life can add new challenges to divorce

For some, the military lifestyle is too challenging and leads directly to divorce. This is shown in the divorce rate, which has been on the rise. In 2001, it was at 2.6 percent. By 2011, a decade later and after the military was sent to Afghanistan, it had gone up to 3.7 percent.

Relocate smoothly as a single parent

As a single parent, life is often chaotic and you need to rely on consistency and organization to get through every day. But when less frequent events crop up, such as deciding to relocate -- perhaps to a different state -- you need to be more prepared than ever to handle the changes that will come for you and your family.

How do taxes work regarding alimony?

Either receiving or paying alimony can be a very complex when it comes to how it relates to taxes. It is important to make sure you know what is tax deductible and what you are likely to owe. If you are receiving alimony, this should be taxed as alimony. Similarly, if you are paying alimony, you should deduct this from your income tax since your former spouse will be paying the tax owed on receipt of the alimony.

Protecting your assets with a prenuptial agreement

If you are thinking of getting married in Florida, do not forget to think the consequences of divorce. Without a carefully drafted prenuptial agreement in place, you could end up having to split your marital or individually owned assets with your spouse.

Contact

Mercedes R. Wechsler, P.A.
1212 E. Ridgewood Street
Orlando, FL 32803

Phone: 407-440-0878
Fax: 407-839-0263
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