Tax Implications & Court Orders for Retirement Plan Division
There are numerous tax implication in family law cases that must be considered, such as which parent claims the child as a dependency exemption; the tax implications of alimony for the recipient and payor; inclusion and deduction of alimony; child care credits, mortgage interest and real estate taxes; retirement and tax sheltered plans; pre-tax deductions from income; employment benefits.
Additionally the division of certain retirement plans requires consideration for the need for domestic relations orders and the ramifications of state retirement plans when one spouse remarries before retirement.
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