Category: Blog

New Tax Law Eliminates Child Tax Exemption for Parents

April 01, 2018 | Blog, Divorce, Tax Issues

Icon for author Brian Vertz Brian Vertz

After April 15, 2018, parents who are separated, divorced or unmarried will no longer have to fight over the tax deductions for their children. The U.S. Congress passed a new tax law in December 2017 that eliminates the dependency exemption for children, one of the tax benefits that historically provoked intense debate between estranged parents. The new law went into effect on Jan. 1, 2018, but does not affect 2017 […]

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Keeping Taxes Low During Separation and Divorce

April 01, 2018 | Blog, Complex Financial Issues, Divorce, Tax Issues

Icon for author Dan Glasser Dan Glasser

Divorcing couples often face disastrous tax consequences because they go from filing taxes jointly to married filing separately, which creates the highest tax burden for both spouses. But, there is an alternative. Under certain circumstances, parents with children can file as head of household. To qualify, a single or legally separated person must maintain a household for more than half of the taxable year which is the principal residence of […]

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Divorced Spouses Must Update Beneficiary Designations

Divorced spouses who do not update their beneficiary designations are taking an unnecessary risk, as illustrated by a case now pending before the U.S. Supreme Court.  In Sveen v. Melin, No. 16-1432 (cert. granted December 8, 2017), the Met Life insurance company was “caught in the middle” when its policyholder Mark Sveen died in 2011.  He had purchased his life insurance policy and designated his then-wife, Kaye Melin, as his […]

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What Happens to our Business When We Divorce?

March 15, 2018 | Attorney Videos, Blog, Business Valuation, Divorce

Icon for author Pollock Begg Pollock Begg

Pittsburgh divorce attorney Daniel H. Glasser of Pollock Begg Komar Glasser & Vertz LLC explains business valuation in the context of a divorce. If you and your divorcing spouse are co-owners in a business, contact our law firm to make sure you take the necessary steps in protecting and dividing your business. A formidable litigator in the court room with more than two decades of experience, Dan focuses his practice […]

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