Tax Issues in Dividing Property in a Divorce
A 50/50 split looks fair on paper. After taxes, it often isn’t. In almost every divorce case, assets and debts must be divided between the parties. Most practitioners know the legal framework: marital versus separate property, equitable distribution versus community property states. What gets less attention is the tax layer beyond the legal framework. Overlook taxes, and a division that looks balanced can leave one party at […]