Archive for July 2018
Taxation of Property Division in Divorce: What You Need to Know By Jonathan Fields, Esq.
I. General Rules Under §1041 of the Internal Revenue Code (IRC), the general rule is that neither gain nor loss is recognized on transfers of property between spouses or ex-spouses “incident to a divorce.” A transfer “incident to a divorce” is one that occurs within one year of the divorce and not more than six…Read More
A Spouse’s Bad Conduct and its Impact on Property Division in a Massachusetts Divorce
By Jonathan Fields, Esq. One of the most frequent questions clients ask divorce attorneys is whether a spouse’s bad conduct will impact the financial settlement in a divorce. This article explores the Massachusetts law in this area. The Massachusetts property division statute, G.L. c.208 s.34, requires courts to examine multiple factors in determining the division…Read More