The Bezos Divorce: A Lesson Learned
Following a 25-year marriage, Jeff and MacKenzie Bezos divorced earlier this year. As the Founder and CEO of Amazon, Jeff is the richest man in the world. The divorce settlement…
Are Lottery Winnings Split with an Ex-Spouse?
A man from Michigan made the news recently when he was ordered to share his $80 million lottery jackpot with his ex-wife. That’s what all the headlines said anyway. But…
A Lesson from Child Support Court: “Pull No Punches”
Minnesota Child Support Law mandates that child support is determined primarily by the parents’ incomes. Because income is so important to a court when figuring out a child support obligation,…
Paying Off Your Spouse’s Premarital Debt
Let’s say that when you get married, your spouse has $10,000 in credit card debt. You have some savings built up, so when you get married, you decide to use…
Personal Injury Settlements: Marital or Nonmarital?
If you were ever in a serious accident, or suffered a serious injury, you were likely part of a personal injury case. You may have received a sizeable financial settlement….
LIFE INSURANCE TO SECURE SPOUSAL MAINTENANCE OR CHILD SUPPORT; DON’T TAKE IT LIGHTLY
Recently the Court of Appeals was asked by a surviving ex-wife to award life insurance proceeds to herself and children, which her ex-husband, before he died, elected go to his…
The New Tax Law and Spousal Maintenance
If you pay attention to the news at all, then I’m sure you know that Congress recently passed a new tax reform law. There are many sweeping changes to the…
Dividing Pension Benefits in a Divorce; the Janssen Formula
Of the assets a family can accumulate over the course of a marriage, one of the biggest can be its retirement plan(s). Families going through the difficult process of a…
Who Claims The Kids? The Riddle of Claiming Tax Dependency Exemption
If you’re a parent, and you’ve filed taxes, you’re probably aware that the US tax code permits a taxpayer to claim an exemption for each of his or her dependents….
Financial Infidelity
KARE-11 recently did a series on what they called “financial infidelity.” I linked one of the pieces to the firm’s Facebook page. By financial infidelity, KARE-11 is referring to situations…