• TAXES AND DEBTS
There are very important tax considerations to be aware of in any
divorce, including the dependency deduction for children, taxability
and deductibility of child support and alimony in their various forms,
and effects of property transfers. It is important to find out how
these laws affect you before you get divorced. Afterwards, it may
be too late to correct mistakes that have been made. Often this may
require the services of an accountant in conjunction with your attorney.
Any debts that the husband and wife may have should also be resolved
at the time of the divorce. The question of who should pay mortgage
payments, income tax liabilities, credit card debts, personal loans,
car payments and other debts should not be overlooked.