Articles Tagged with postnuptial agreement

If you signed a prenuptial agreement before you got married, and believe there is any chance you and your spouse may divorce in the future, the Tax Cuts and Jobs Act that was signed into law on December 22, 2017 could seriously affect the deal you bargained for.

One major change that occurred when that law was passed was that spousal support, which is also known as alimony or spousal maintenance, will no longer be tax deductible after 2018 to the spouse who is paying it, and will no longer need to be claimed as income by the person receiving it. Under the new law, a separation agreement must be signed within the calendar year of 2018, or there needs to be a judgment of divorce signed in 2018 directing that spousal support will be considered tax deductible in future years.

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I recently presented a workshop entitled “Collaborating in the Face of Financial Betrayal” at the International Academy of Collaborative Professionals 18th Annual Networking and Educational Forum, alongside my colleagues, Certified Divorce Financial Analyst, Ivy Menchel and Divorce Coach, Abby Rosmarin.

While this workshop was geared to the divorce professionals in the room, there are many lessons that anyone who has dealt with financial betrayal in his or her own marriage — and is contemplating divorce — should understand.

To start, we defined financial betrayal as the keeping of financial secrets in an intimate relationship. Financial secrets are different from other secrets because of the enormous ramifications that often result from them for many years to come.

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