New Tax Plan To Make Divorce More Acrimonious Finds Survey Of Nation's Top Attorneys
CHICAGO, Feb. 14, 2018 /PRNewswire/ -- It seems that the federal government has made divorce a more emotionally taxing proposition for the nation. According to a survey of the American Academy of Matrimonial Lawyers (AAML), an overwhelming 95% of members anticipate the new tax plan will change the ways in which divorces are settled and a clear majority of 64% believe that the cases will now become more acrimonious. In addition, 62% of the respondents feel that the changes in the tax plan offers a greater benefit to the payee in terms of spousal support and 59% are finding that husbands are showing a greater sense of concern in regards to the repeal of the alimony deduction.
"The new tax plan will most certainly alter the ways in which divorce cases are settled and couples need to be prepared for these changes," said Madeline Marzano-Lesnevich, president of the AAML. "The elimination of the alimony tax deduction has removed a powerful negotiating tool and turned it into a difficult stumbling block for spouses trying to settle a divorce."
In order to better prepare and limit potential divorce battles in this new tax landscape, Marzano-Lesnevich encourages spouses to practice more financial transparency with one another. She advises the monied spouse to seek a deeper understanding regarding the ways in which the support can help both the dependent spouse and the family moving forward. Additionally, she recommends the higher income earner stick to the numbers and offer more objective details about why a requested spousal support amount could be difficult to pay, rather than turning to acrimony or accusations.
About AAML
Founded in 1962, the mission of the American Academy of Matrimonial Lawyers (AAML) is to provide leadership that promotes the highest degree of professionalism and excellence in the practice of family law. Comprised of the top 1,650 matrimonial attorneys throughout the nation, members are recognized leaders in the areas of matrimonial law, including divorce, prenuptial agreements, legal separation, annulment, custody, property valuation and division, support, and the rights of unmarried couples.
SOURCE American Academy of Matrimonial Lawyers
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