As marital property is divided in a divorce, there are important tax issues that must be recognized and properly handled. Failure to do so can result in mistakes that leave one or both parties with significantly less money after the settlement or, in extreme case, facing audits and other actions by the Internal Revenue Service (IRS).
At de Beer & Associates, we provide skilled representation to men and women in the Twin Cities metro area, including St. Paul and Woodbury. Our lawyers have the skills and resources to handle even the most complex divorce matters, including high-asset divorces with significant tax implications.
In a high-asset divorce, a mistake in handling a tax issue can be a six-figure mistake. With so much at stake, you need our experience on your side. Call (651) 714-2378 to schedule a free initial consultation.
The Tax Implications Of Divorce
Many issues in a divorce can lead to significant tax implications, such as the sale of a marital house or the handling of investments that have accrued throughout the course of the marriage. For example, the decision of whether to sell the house before or after the divorce is finalized can make a significant difference in the capital gains tax.
We work with financial experts such as accountants and actuaries to determine the proper valuation of retirement accounts and to determine the tax implications of dividing them. We make sure that the tax burdens of the marital assets are fairly divided along with the marital assets and debts.
Contact Our Minnesota Family Law Attorneys
In a divorce, you only get one chance to make sure your tax issues are handled properly, so you cannot afford any mistakes from inexperienced legal counsel. Contact us today to arrange a free initial consultation with our accomplished family law attorneys.