Family Law Attorneys Serving the St. Louis, Missouri, Area
There are tax implications for almost every decision made in a divorce. The choices you make today regarding property division, child custody, alimony and other family law issues could affect your tax burden for years to come.
At the Kallen Law Firm, LLC, we advise our clients on a wide range of family law issues and their accompanying tax implications. If you have questions about divorce and taxes, we are here for you.
Contact us today online or by telephone at 877-587-3409 | 800-417-3794 to speak with an experienced family law attorney.
High-Net-Worth Divorce & Taxes
With all of the hassle and expense involved in divorce, it is important to preserve assets through careful tax planning whenever possible. An experience divorce attorney can guide you through a number of tax-related divorce problems, including:
- Spousal maintenance: Alimony is taxable income by the party receiving it, and a deductible expense for the party paying it. It is important that you take into account your spousal maintenance arrangements when preparing your taxes.
- Stocks and 401(k) holdings: While property division is typically a tax free event, you may face significant tax consequences when liquidating stock holdings and other securities assets. This factor must be taken into account before making any decisions regarding property division.
- Child custody: The physical custody status generally determines which parent can claim the child as a dependant.
- Closely-held businesses: When business owners divorce, the valuation of the business plays a crucial role in the division of property. Future tax implications of the sale of the business must be taken into account for the division of assets to be fair.
- QDROs: Pensions, 401(k) plans and other employer-provided retirement benefits are subject to division when couples divorce or separate. The tax implications of withdrawing these holdings must be addressed in the property division arrangement.
Our attorneys have successfully handled numerous high-net-worth divorces for clients throughout the St. Louis, Missouri, metropolitan area. Our goal is to help you secure a stable financial future for you and your loved ones.
Contact Us
If you are facing a divorce and have questions about the tax consequences, we are here to help you explore your legal options. Contact us today online or by telephone at 877-587-3409 | 800-417-3794 to speak with an experienced St. Louis, Missouri, divorce lawyer. We offer free initial consultations and flexible payment plans. All major credit cards accepted. Weekend and evening hours available by appointment.
