Don’t look a gift Porsche in the mouth…
Some states, such as California, are “community property” states where married couples share an equal and undivided interest in almost everything they acquire during the marriage, except for gifts. This led to an interesting divorce case over who owned a sports car that a wife had arguably given her husband as a gift. While the […]
Voluntary retirement didn’t terminate alimony
If you’re thinking about retiring, don’t just assume that your alimony will end when you do so. You’ll want to discuss this with an attorney to make sure you know your rights, and obligations. The highest court in Massachusetts recently held that voluntary retirement doesn’t necessarily mean that the obligation to pay alimony ends – […]
2011 Estate and Gift Tax Update
The Tax Relief Act of 2010, passed by Congress in the waning days of the December, 2010, increased the federal estate tax exemption to $5,000,000. However, an equally significant aspect of the new law is the unification of the federal gift and estate tax exemptions. Both exemptions will now be $5,000,000 in 2011, with an […]
