Call Now: (781) 606-9002

Tax Consequences Of Divorce

Melrose, Massachusetts, Divorce Property Settlement Lawyers Serving Middlesex County And Essex County And Southern New Hampshire

It is common for emotions and frustrations to play a big part of any divorce. When a married couple considers ending their relationship, fear of the future is one of the first concerns that rise to the surface. Fighting over who gets the house, the car, investments and retirement accounts and alimony can often result in expensive litigation where nobody comes out ahead but the lawyers.

Did you know?
If you are splitting up a 401(k) or individual retirement account (IRA) in divorce, you can transfer the money into another qualified retirement plan but you cannot take control of the money without paying taxes and possible early withdrawal penalties. We can help you find the right solutions for what do to with your financial settlement to reduce taxes.

It is important to remember that ‘winning’ ownership of the house, the vacation home, investments and retirement funds may feel comfortable at the time, but the tax consequences will be part of the judgment. You don’t get to keep the financial opportunity with paying the financial consequences.

If you are considering divorce in Massachusetts or New Hampshire and will have real estate assets, investments, retirement savings or business ownership included in the property judgment, make sure you understand the tax consequences. Talk to an attorney at Martino Law Group. We have more than 40 combined years of experience working with specialists in the areas of:

  • Qualified domestic relations orders (QDRO) for retirement savings and pensions
  • Business and professional practice valuation and taxation
  • Actuarial investment advisers to determine the future value of securities
  • State and federal taxation
  • Real estate tax burdens
  • Spousal support (alimony) tax obligations and deductions

Call us to arrange an opportunity to discuss your specific legal need. We are well-qualified. We are efficient and cost-effective. Above all, we are on your side.

Here's What People Are Saying
How We Can Help?
Exceptional Legal Representation With Uncompromising Commitment and Personalized Service

Attorney John J. Martino offers a broad range of legal services in Eastern MA and Southern NH. As a highly dedicated and experienced professional, he handles cases under the following areas of practice:

Estate Planning

Family Law and Divorce

Real Estate Law

Probate Proceedings

Business Law

Personal Injury

Get In Touch Now