Divorce Taxation

Darryn L. Duchon - Indianapolis Divorce Taxation Attorney

Many divorces, particularly those involving extensive assets, family businesses, or complex property holdings, involve tax considerations that should never be overlooked in resolving questions of spousal support, child support, or property division. For detailed advice about the tax consequences of your divorce case, contact Indianapolis divorce tax attorney Darryn Duchon. In addition to his experience with divorce taxation matters, Darryn Duchon also has an accounting degree.

The decisions you make concerning your priorities with respect to alimony, child support, or the distribution of the marital estate will have lasting consequences for your tax liabilities - the bigger the estate, the more serious the tax impact. Divorce taxation attorney Darryn Duchon's objective with his divorce clients is always to maximize the tax benefits of divorce through negotiation.

Tax attributes should be regarded as just as much a part of the marital estate as the family home and motor vehicles. By recognizing that the tax consequences of proposed distribution of marital assets and obligations will tend to favor one party or the other, the size of the marital estate can be protected and the impact of monthly support obligations can be mitigated.

The following are examples of the assets and obligations that Indianapolis divorce taxation lawyer Darryn Duchon always examines in formulating a negotiation position for the settlement of outstanding property division and support issues:

• Dependency exemptions for minor children - who should claim the children as dependents? The custodial parent, or the parent paying support?
• Characterization of elements of the property division settlement as spousal support/maintenance to maximize the available tax benefits
• Allocation of family business or investment tax credits, tax loss carry-forwards, and tax refunds between spouses
• Educational and child care tax credit distribution
• The effect of QDROs on retirement and pension accounts, and whether it makes sense to distribute IRAs or 401(k) accounts as part of a property distribution agreement

Careful attention to the tax consequences of the details of your proposed marital property settlement can make a very significant difference to your financial welfare following the divorce. For further information regarding the impact of tax planning on your divorce case, contact Indianapolis divorce taxation attorney Darryn Duchon. Evening and Saturday Hours Available.

Indianapolis divorce taxation attorney Darryn L. Duchon advises and represents clients facing problems concerning the allocation of tax credits, child care credits, spousal maintenance or alimony characterization, tax consequences of property division provisions, dependency exemptions, and other issues involving tax considerations in marital dissolution cases in Marion County, Hamilton County, Boone County, Hendricks County, Morgan County, Johnson County, Shelby County, Hancock County, Carmel, Fishers, Noblesville, Westfield, Pendleton, Danville, Avon, Zionsville, Beech Grove, and Greenwood IN.