Divorce Under Tax Reform: Eliminating Support Payment Tax Benefits and Other Changes

Treatment of Alimony, Personal Exemptions, Standard Deduction, Child Tax Credits, Prenups and More

Recording of a 90-minute CLE/CPE webinar with Q&A


Conducted on Wednesday, April 11, 2018

Recorded event now available

or call 1-800-926-7926
Program Materials

This CLE/CPE webinar will provide family law attorneys with a practical guide to navigating tax reform and the provisions impacting clients’ net, after-tax cash flow when facing divorce.

Description

The changes implemented by tax reform reshape how family law attorneys address many common issues in their practice. The new law impacts issues like the treatment of alimony, personal exemptions, standard deduction and child tax credits, home mortgage and home equity loan interest, limitations on deductions for state and local tax deduction, change in business valuations due to the lowering of the corporate tax rates and increases in the estate and gift tax exemptions.

One shift with the broadest impact on divorcing parties is the elimination of the tax deduction for alimony. Alimony will no longer be deductible by the payor or taxable to the payee, requiring practitioners to shift their focus to the parties' after-tax incomes to determine the appropriate amount of support. Practitioners must be prepared to address the likely resulting need for each party to seek the advice of tax experts during the negotiation of support, which may potentially increase the costs associated with divorce.

Practitioners must prepare to advise clients on this critical development and the implications for negotiating and entering into divorce, separation and support agreements.

Listen as our panel of valuation and forensic accounting experts and a family law attorney discusses some of the changes brought about by tax reform and provides insight on navigating the new rules.

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Outline

  1. Overview of the new rules under tax reform
  2. Changes in net, after-tax cash flow
  3. Calculating and negotiating spousal and child support under the new rules
  4. Practical advice for amending existing agreements/orders

Benefits

The panel will review these and other key issues:

  • The treatment of pass-through income from a business
  • Changes in net, after-tax cash flow
  • The taxability of unallocated support
  • How do tax reform changes in the taxability of support payments at the federal level square with state tax law?

Faculty

Van Zandt, Arik
Arik Van Zandt

Managing Director
Alvarez & Marsal
Thomas, Benjamin
Benjamin P. Thomas
Director
Alvarez & Marsal

Mr. Thomas specializes in economic damages, litigation support, and valuation for purposes of insurance and litigation...  |  Read More

Vuotto, Charles
Charles F. Vuotto, Jr.

Of Counsel
Starr Gern Davison & Rubin

Mr. Vuotto's practice focuses on family law. He is a Fellow of the American Academy of Matrimonial Lawyers and Past...  |  Read More

Other Formats
— Anytime, Anywhere

Strafford will process CLE credit for one person on each recording. All formats include program handouts. To find out which recorded format will provide the best CLE option, select your state:

CLE On-Demand Video

$197

Download

CPE Not Available

$197