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2019 brings major changes for divorces and taxes
Family Law Services John Jimenez Family Law Services John Jimenez

2019 brings major changes for divorces and taxes

The new federal act impacts every state, despite differences in state laws. For example, Minnesota is an equitable distribution state, so all the marital property will be divided “fairly” instead of “equally.” The property often includes all shared bank accounts, retirement benefits and investment portfolios… With the constant changes in tax rules, it’s a smart move to consult a financial advisor before hitting the courtroom with your spouse. It will prepare you for any surprises or future tax filings after finalizing the divorce.

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