In a rush to get divorced, or in the blind determination to be awarded certain assets, many divorcing spouses overlook the tax ramifications of divorce. This shortsighted approach can reduce the overall marital estate or burden you with unexpected tax consequences.The attorneys with the Schoenberg Family Law Group, P.C., are ever mindful of the tax implications when advising our divorce clients. Our comprehensive understanding of the tax aspects of divorce sets us apart from other family law practitioners. We routinely structure settlements to avoid triggering a taxable event.
Our San Francisco firm focuses solely on family law, serving the entire Bay Area. To discuss tax considerations in the context of your divorce, schedule a consultation with us.
Strategies To Minimize Taxation And Avoid Tax Surprises
Whether you ultimately divide your marital assets in or out of court, you and your spouse can agree not to needlessly relinquish wealth to the federal government or the state of California. We work closely with clients and their CPAs or tax professionals, to identify potential tax issues and arrive at preemptive solutions.
Debra R. Schoenberg is a Certified Family Law Specialist,* who brings over 35 years of legal expertise to your case. She and her team of accomplished attorneys can readily address:
- Types of income that are taxable
- Allowable tax deductions (e.g., alimony, mortgage interest)
- Which spouse claims the dependency exemption for children
- Tax consequences of selling the house or securities
- Tax implications of liquidating a business or transferring shares
- Tax considerations in creating QDROs or dividing retirement accounts
- Amelioration of taxes on separate property
- Capital gains and other foreseeable taxable events
The Internal Revenue Service (IRS) is vigilant with regard to attempts to disguise child support income or claim improper deductions. We help clients mitigate taxes through legitimate methods that should not trigger IRS scrutiny or penalties.
I found (Debra) to be VERY knowledgeable, friendly and patient. Having never been through this process before, I cannot compare her to other lawyers or firms. But I can say that she really looked out for my interests, drawing upon her years of experience to make sure that I understood what every clause meant. Additionally, she made revisions that really delved into the heart of what my wife and I were trying to do.”
— J.L. (Read more testimonials from our clients.)
Sophisticated Tax Counsel In Your California Divorce
Our high net worth clients are particularly vulnerable to “divorce taxes,” due to their higher tax brackets and the highly taxable nature of their assets. Ms. Schoenberg and her associates provide sophisticated analysis and strategies associated with the distribution of the community estate so that taxes can either be minimized or avoided altogether.
To speak with our attorneys about tax considerations in divorce, please contact us online, or call us at 415.834.1120.
* Certified in Family Law by the State Bar of California Board of Legal Specialization.