The Huffington Post recently reported that taxes can be a complex issue for those in the midst of a divorce filing in Dallas.

In fact, Dallas Divorce Lawyers understand how critical tax issues can be to properly dissolving a marriage and the joint obligations that go along with it. The Internal Revenue Service does not care what your divorce agreement says. Both parties will be held responsible for tax debts. What’s worse, tax refunds due one party may be issued to both parties — or even to the wrong party. And just try holding the IRS responsible for a mistake. Better luck next time.

Here are some of the basics:

Know your filing status: You can file as single, married filing jointly, mailing filing separately, head of household or qualifying widow with dependent child.Knowing your status — and knowing the advantages to filing for divorce at various times of the year, if that is an option, can help you realize the maximum benefits and can keep you out of tax trouble. And, while there may be benefits to one spouse filing jointly for as long as possible, it could also make the other spouse responsible for certain tax obligations.

Property Division: Selling or liquidating joint assets — whether stocks or real estate — can create tax consequences. Conversely, losses can create tax advantages that should be assigned to one or both parties as part of any divorce proceeding.

Alimony: Knowing the rules can benefit you in a divorce. Alimony paid to a spouse is tax deductible. Child support is not.

Exemptions: Assigning who claims child exemptions for tax purposes can mean thousands of dollars in tax savings each year.

If you need to speak to a divorce lawyer in Dallas contact the Family Law Firm of Warren & Migliaccio L.L.P at 972-205-9750

When it comes to Divorce in Dallas, you may not have heard of “simulation entrapment” or “online disinhibition”

But you’ve probably heard of “drunk dialing,” or social network posting of a questionable nature. Facebook, MySpace and other social networking sites can cause a party to any type of court case grief — particularly when posts of a questionable nature are revealed in court. Divorce attorneys in Dallas will tell you the general rule of thumb is to not post anything that you would be uncomfortable explaining to a judge.

The drunken escapades from last weekend, problems involving the kids at school, the big bonus or raise you got at work, the racy Caribbean vacation, or information about your new boyfriend or girlfriend is all information best kept to yourself. Social media posts, voicemail, email, and text messages can and do make their way into court.

A recent article in Forbes Magazine mentions drunk dates documented in photos, status updates with information about affairs and tweets from mid-day hotels near the office.
“Facebook has become an open book of people’s lives,” said Linda Lea M. Viken, president of the American Academy of Matrimonial Lawyers. “They write things as though they were having a conversation with one friend, so they say the most outrageous and private things. You can’t get better evidence than what comes from their own mouths or their own computers.”

Randal M. Kessler, chairman-elect of the American Bar Association’s family law section, agreed.

“Once people start to think about the silly or irresponsible things they have said, or photos they have posted online, they don’t want to risk being defined in court by their online conduct,” Mr. Kessler said. “That makes them more eager to settle and that is a very good thing.”

Behavioral experts call it “online disinhibition,” which is the act of behaving online outside of a person’s traditional social boundaries.  Others say people associate posting online with interacting with a person, even though it’s very different and such social posts are typically visible to a wide number of people.  This “simulation entrapment” causes them to confide information in a social posts typically reserved for a close friend.

And if you don’t think your former spouse is hearing about your antics from mutual friends, think again.

Never lose sight of the fact that what you post online is not personal but is available for public consumption. And, when you are involved in divorce, child custody or other  legal case, those on the opposing side may have a keen interest about what you are doing online.

If you need to speak to a divorce lawyer in Dallas contact the Family Law Firm of Warren & Migliaccio L.L.P at 972-205-9750

A divorce in Dallas can have a dramatic impact on a couple’s finances.

Never is that more true than when a divorce is poorly planned or executed. In some cases, one or both parties never recover the standard of living that was enjoyed during the marriage. Intuitively, couples understand a divorce will impact their standard of living. But it is often not until months or even years after a separation that they come to truly understand the consequences of twice the bills and half the income.

A Dallas divorce lawyer understands and can help you avoid many of the common pitfalls. Too often, one or both parties may see a divorce attorney as just another expense — a line item to be minimized — when in reality seeking sound legal advice during a divorce may be the best financial planning you’ve ever done.  Similarly, couples sometimes see hiring divorce attorneys as stoking the fire, when in reality an experienced divorce lawyer can frequently help keep emotions from creating havoc.

When it comes to your finances and Texas divorce, a recent article in U.S. News & World Report deals with the big three: Your assets, your debts and your retirement.

Dividing the Assets: Typically, everything acquired by you and your spouse during your marriage will be considered martial property and subject to division. Texas is a community property state, meaning, at least in theory, assets are subject to equal division. But valuation can have a major impact on property division. For instance, is the home valued at the purchase price or the current market value? In reality, there are many gray areas or areas for potential contention or uncertainty. What about a spouse’s inheritance? What if one spouse worked two jobs so the other could go to law school or medical school? What about the future earning potential of such degrees?

Dealing with Debt: If you think a divorce agreement gets you off the hook for the wife’s Macy’s card, think again. Banks, mortgage holders and other creditors could care less what you have decided in court. If your name remains on an account, you will be held responsible in the event of default. This is an area that has become increasingly complex in recent years. Many homeowners are underwater and selling the marital home is not an option. While an experienced attorney will best be able to advise you, in some cases it may not be possible to separate yourself entirely. Taxes are another area where an experienced attorney will need to advise you of how best to protect your rights.

Retirement Savings: This is often the last area couple’s think about. Yet retirement accounts are typically a couple’s most valuable asset. Failure to properly secure your retirement during a divorce can literally end your hope for a comfortable retirement. Special steps need to be taken to claim a portion of your spouse’s pension or 401(k).

If you need to speak to a divorce lawyer in Dallas contact the Family Law Firm of Warren & Migliaccio L.L.P at 972-205-9750