Friday, December 27, 2013

Tax liabilities may be especially important in high-asset divorce

At times, making the decision to divorce may be particularly challenging. Once couples reach the point that they are ready to split, however, there may be an inclination to rush to the finish line without considering the wide range of consequences associated with getting divorced. As such, it may be particularly important to accurately assess the impact of divorce as the process moves forward.

One thing that spouses might not immediately consider is that there are potential tax consequences for transferring assets between divorcing spouses. In high-asset divorce cases, the tax burden could be significant.

No comments: