Recent family-related news included information about the impending U.S. tax law changes around alimony, a look at the growing number of grandparents in a child’s life, tips on dealing with divorce during the holidays, and finally a video from a Swedish dad focused on the importance of taking on responsibility at home.
Going Through Divorce? Start These 3 Steps Today to Save on Taxes Heather L. Locus, Forbes, November 16, 2018 The Tax Cuts and Jobs Act eliminated the tax deduction for alimony in new divorces settled after December 31, 2018. For that reason, couples going through a divorce where alimony is an issue are highly motivated to settle soon. Finalizing this year will grandfather them into existing rules allowing them to deduct alimony in future years as well.
New Divorce Tax Rules Could Leave You with a Big Financial Disadvantage CNBC, November 29, 2018 Many couples and financial professionals are scrambling to get written agreements regarding alimony payments done before new tax rules set in. After December 31, 2018, alimony payments will no longer be tax-deductible for the payor and considered taxable income for the payee — changing rules in place for more than 70 years.
A Cornucopia of Grandparents Paula Span, The New York Times, November 20, 2018 Today there are children with six or eight grandparents, step-grandparents and grandparent-equivalents and “the main reason is divorce,” said Deborah Carr, chairwoman of the sociology department at Boston University and a longtime family researcher. As divorced spouses remarry and re-partner, they introduce new grandparental figures to the family mix, and often acquire additional grandchildren through their new relationships as well.
Dealing With Divorce During the Holidays Barbara Greenberg, U.S. News & World Report, November 30, 2018 The holidays are upon us, and they are often fraught with stress and excitement for all of us. When you add the struggles that separated or divorced families face sending children back and forth between two homes, you may have a recipe rife with all sorts of dilemmas and overwhelming feelings. This article provides suggestions on how to navigate difficult challenges to make the most of the season with your kids.
A Video by Johan Bavman A short video by a Swedish dad about the benefits of staying home with your children for a long period of time.
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