Family Legal Center, LLC
Comprehensive Family Law, Probate and Estate Planning Services.
Call us at : 412-843-0957
Menu Contact

Finalizing a divorce in 2018 could make financial sense

Divorce always has a financial impact on both parties, and it is beneficial for each person about to move forward with this process to consider how to minimize the potentially negative effects it can have. Due to various factors, including changes to tax laws, it could be smart for a Pennsylvania couple to work to finalize their divorce before the end of the year. This effort could have certain financial benefits.

One of the main reasons why it is smart for couples to attempt to finalize their divorce by the end of 2018 is because of the implementation of various tax laws effective at the beginning of 2019. After the first of the year, the person paying alimony will no longer be able to deduct that expense from his or her taxes. This could lead to increasing complications for individuals attempting to negotiate financial settlements.

Changes in tax laws also reduce the amount of money a person can deduct for property taxes, which may complicate attempts in deciding who will keep the family home. Additionally, there will be significant changes to the deductions allowed for children. It is more important than ever for divorcing Pennsylvania couples to carefully consider the financial impact of the choices they make while working on a final divorce order. 

Divorce is a complex process, and it is easy to make decisions based on temporary emotions instead of what is truly best. In light of the recent changes in tax laws, it is smart to be prudent and thoughtful regarding the terms of a final order. It may also be prudent to finalize orders before the end of the year and the implementation of new laws and regulations. 

No Comments

Leave a comment
Comment Information

How Can We Help You?

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

email us for a response

4372 Old William Penn Highway
Monroeville, PA 15146

Toll Free: 877-855-1067
Phone: 412-843-0957
Fax: 412-824-0707
Monroeville Law Office Map