IRS Alimony Recapture Rule
What is the Recapture Rule?If your alimony payments decrease or end during the first 3 calendar years, you may be subject to the recapture rule. The reasons for a reduction or end of alimony payments that can require a recapture include:A change in your divorce or separation instrument,A failure to make timely payments,A reduction in ...
Tax Ramifications of Alimony
Step 1. Determine which payments you made qualify as alimony.Payments that are NOT alimony: Not all payments under a divorce or separation instrument are alimony. Alimony does not include:Child support;Non-cash property settlements;Payments that are your spouse's part of community income, as explained underCommunity Propertyin Pub. 504;Payments to keep up the payer's property; orUse of the ...
Joint Home Ownership Agreements
Many couples make the choice to live together before getting married. If you are planning to buy a house with your partner, ideally you should both sign a joint home ownership agreement. After all, this is one of the largest investments you will ever make. If things don't work out you don't want to rely ...
How do I amend my existing Will without drafting a new Will?
You can amend you existing Last Will and Testament by executing a codicil. A codicil is a document that you draft that amends certain sections of the Will, instead of drafting a whole new will. A codicil can be any length, like it can be 4 pages, 2 paragraphs, a few sentences or a couple ...
How do I change my name after getting married?
How do I change my name after getting married in North Carolina?Step 1.You'll need a certified copy of your marriage license in order to change your name on your driver's license and your Social Security card. Wait at least a few days after the ceremony is performed to allow sufficient time for your license to ...
