Did you know that divorce is the second-most stressful life event next to the death of a spouse? One of the ways to alleviate that stress is to prepare yourself for the process. Preparation can vary from person to person, depending on finances and if children are involved along with other factors. The following 5 tips can help you prepare and stay informed throughout your divorce.
Alimony deductions are gone in 2019, and while payees won't be taxed on the payments, they'll also work harder for it during divorce negotiations. Effectively, the change is a financial loss for the person paying alimony and a windfall for the person receiving it. But ultimately, the change stands to limit the amount of alimony the payee receives in a divorce.