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Category Archives: Property & Finances

Filing tax returns and head of household status

Filing tax returns and head of household status
Prior to your divorce becoming final, parties to a pending divorce are still considered married in the eyes of the IRS. Therefore, a divorcing couple has two options with respect to filing their income tax returns: 1) the parties can agree to file joint income tax returns; or 2) the parties must file their income…
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New Years Resolution: Get Involved in Your Finances

New Years Resolution: Get Involved in Your Finances
It is never too late or too early to become more educated  about your finances.  If you are or may become involved in a divorce, you will be required to fill out a financial statement.  The financial statement is the most important document filed in any divorce matter for a number of reasons: it reflects…
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Who Keeps the Golf Club Membership in a Massachusetts Divorce?

by: Julia Rodgers A private country club membership allows you and your family access to the club facilities, fun camps for your kids, and of course, golf. So, what happens to your family membership in a Massachusetts divorce? In a Massachusetts divorce, it is crucial to value property for what it is worth at the time…
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Children of Divorced Parents: Tax Exemptions

Children of Divorced Parents: Tax Exemptions
The Supreme Judicial Court released a slip opinion, Phalla IV vs. Samath HANG., No. 11-P-2181. (May 14, 2013) (Phalla), resolving ambiguities created by recent amendments to the Internal Revenue Service Code, and providing an interesting abstract of a Massachusetts State judge's authority to allocate Federal dependency exemptions in divorce proceedings. State judges were historically deemed…
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