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June 2017 Archives

Alimony deductions after divorce

Money is often tighter after a divorce, so Massachusetts residents might need to know about how alimony and child support are taxed. Child support payments do not come with any tax benefits, but alimony is deductible for the payer. However, certain criteria must be met to qualify for a deduction.

Giving another person guardianship over a child

There are certain cases where Massachusetts parents may need to name a short- or long-term guardian for their child. While the process for naming a short-term guardian is fairly simple and quick, appointing a long-term guardian for a child can be more difficult depending on the court system.

Getting organized financially before a divorce

A person in Massachusetts who is getting a divorce can prepare financially ahead of time by gathering documents such as bank statements, information on loans, investment paperwork and tax returns. Someone who manages household expenses might already have a sense of the overall family budget, but a person who does not may need to become more aware of that budget. All of this information may be useful in determining how property is divided in the divorce.

Co-parenting and nesting

Handling the business of parenting with an ex-spouse can be difficult, especially if the divorce was contentious. The children also may be affected emotionally and physically by the divorce. However, divorced parents in Massachusetts should know that their children may benefit from a relatively new form of co-parenting called nesting.

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