Changes in the Spousal Support Tax Laws and What this could mean for you.
The divorce attorneys at Spitler Huffman law firm have substantial experience representing clients in family law. Located in Bowling Green and Rossford, Ohio we are dedicated to serving clients in Northwest Ohio including Wood, Henry, Hancock, and Sandusky Counties. If you live in Bowling Green, Findlay, Perrysburg, Napoleon, Port Clinton, Fremont, Rossford, or other areas in Northwest Ohio and need assistance with a divorce or dissolution, contact us today.
Since the enactment of the Tax Cuts and Jobs Act (“TCJA”) in December of 2017, substantial changes have been made to the application of Ohio’s spousal support that are important for families to consider when making the difficult choice to separate.
First, it is important to note that TCJA applies to domestic relations matters (i.e., divorce and dissolution proceedings) that conclude on or after January 1, 2019. Second, it is important to be aware that a person paying spousal support pursuant to an order that was issued on or after January 1, 2019 may no longer deduct that payment from their individual income taxes. Similarly, and equally important to know, is that the TCJA no longer requires the receiving spouse to claim that income. Finally, given the unique issues in every domestic relation matter it is important to know your options.
Please give our office a call with any questions or to discuss your personal situation.
IRS Circular 230 Statement Applicable: To Tax Advice, If Any, Contained In This Communication
Treasury Regulations require us to inform you that neither you nor any other recipient may use any tax advice in this communication to avoid any penalty that may be imposed under federal tax law. To obtain penalty protection, the new Regulations require attorneys, accountants and other tax advisors to perform increased due diligence to verify all relevant facts and to format the written tax advice in a lengthy number of separately enumerated sections with numerous disclosures. If you would like us to prepare written tax advice designed to provide penalty protection, please contact us and we will be pleased to discuss the matter with you in more detail.
Is There Facebook After Death?
The estate and probate attorneys at Spitler Huffman law firm have substantial experience representing clients in estate and probate matters. Located in Bowling Green and Rossford, Ohio we are dedicated to serving clients in Northwest Ohio including Wood, Henry, Hancock, and Sandusky Counties. If you live in Bowling Green, Findlay, Perrysburg, Napoleon, Port Clinton, Fremont, Rossford, or other areas in Northwest Ohio and need estate and probate assistance, contact us today.
In an era where “it isn’t official until it’s posted on Facebook,” what happens to our profiles when we die?
With Facebook reporting that it has over 1.7 billion “active” users (or users that have logged in at some point within the last 30 days), about a quarter of the world is on Facebook every month. With so many users, a few are bound to pass away every so often.
For the planners out there- there are options. In response to The Inevitable, Facebook has put in place methods for a user to dictate the terms of your account prior to death.
Facebook gives users three options for their accounts after death- 1. Create a “Memorialized” account, 2. Deactivate upon death, or 3. Do nothing.
If you choose a Memorialized account, once Facebook is notified of your death you basically get a page where people can continue to post on a special memorial timeline. If you choose, you can name a “legacy contact” to administer the page on your behalf, but your legacy will be limited to the memorial page.
If you choose to set your account to deactivate upon death, Facebook simply deactivates your account once it receives a death notice.
If a User Does Nothing:
That just leaves the 90 plus percent of users who have not designated any action for their Facebook account. If this happens, your family or the fiduciary of your estate may request that your account be deactivated, or may seek a court order to shut down your account.
A Little Planning Goes A Long Way:
Most of us write our 19 different passwords down on 19 different pieces of paper that we can never find later. News flash- if you can’t find your passwords, your next of kin won’t be able to either. As for legal intervention- laws so far have been slow to catch up with the problem of fiduciary access to the online records of a deceased person. Some states, like Oklahoma and Idaho, have taken steps to authorize fiduciary access to online accounts. However, if you live elsewhere, maybe it’s time to get more organized and make a plan which includes your digital information.
Though planning for your digital estate may seem trivial in comparison to estate planning for your health or financial future, the large and ever-increasing role of technology in our day to day financial and social lives means digital records may need to be addressed with your estate planner. Accurate records will help your loved ones efficiently handle your estate. And that’s something everybody likes.
-Posted by CCI
Henry County Regional Water & Sewer Recovers Over $200,000 in Water Tower Settlement
Henry County Regional Water & Sewer District recently recovered over $200,000 to resolve a contractual dispute with a construction company. Spitler Huffman, LLP’s Christopher Frasor represented the District in the dispute.
Mr. Frasor presented the check to the Board at the District’s regular meeting on May 3rd, 2017. As part of the settlement, the District also is entitled to retain roughly $180,000 in funds that were initially earmarked for the project.
A link to the Northwest Signal’s blurb on the matter can be found here: http://www.northwestsignal.net/news/article_8fa43770-c605-522b-a618-f1f156c0dd08.html
-Posted By CCI