Welcome to The Divorcierge divorce tip of the week. When you're negotiating
your financial settlement one of the most important things you need to
consider is the tax implications of the different components of the settlement. I
have heard many cases where people didn't really think about what the
long-term effects would be on their income and they agreed to something that
may not have been wise and may not have agreed to had they had somebody take a
look at the long-term consequences the long-term tax consequences. Now we all
know that that the tax code is changing and there are different effects on
divorce. Most importantly, after 2019 and going forward alimony or spousal support
will no longer be tax deductible for the payor which was the case up until or
will be the case up until the end of 2018. Another thing to think
about is the deduction of mortgage mortgage interest. If you have a mortgage
on your home and you are talking about transferring the home between one party
and another, the amount you can deduct is changing and that may affect how much
you end up getting in your settlement as well when it comes to the real estate.
You also want to think about tax implications of selling any assets. If
somebody owns a bunch of stocks and you're counting on selling them in order
to pay for your new lifestyle or to pay for something, you will be taxed on those
assets or on those stocks if they have have gained value since you purchased
them. There are many many other tax implications and it really depends on
your situation and what your assets are that you hold, what your debts are on and
on. The most important thing is that you think about these things, that you
have a financial professional look at your situation and make sure that you
have thought through or they have helped you plan through all these pieces that
will come into play in negotiations and in your final
settlement. If you'd like to have a little more information
perhaps figure out which financial professional might be the right one to
help you through your divorce, check out my website TheDivorcierge.com, sign
up for a free consultation.
For more infomation >> Divorcing? Don't forget to plan for taxes! - Duration: 2:36.-------------------------------------------
Divorce Bill - Duration: 2:08.
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CRUEL fans lash Ant's wife for 'greed' over divorce cash - Duration: 3:09.
CRUEL fans lash Ant's wife for 'greed' over divorce cash
The Strictly make-up artist has reportedly been advised to go after estranged husband Ant McPartlin's future earnings.
Ant, 42, was said to have been willing to pay Lisa, 41, half of his estimated £62m fortune to end their marriage amicably.
But it is understood Lisa has been advised to follow in the footsteps of ex-Arsenal footballer Ray Parlour's wife Karen who was awarded a third of his future earnings when they divorced in 2004.
An insider said Lisa was "not motivated by money" and wanted to get "through the devastating end of her marriage in one piece".
"Wow Lisa.
Is £31million not enough?" Maria Stockdale But her lawyers are digging in.
They believe she was pivotal to Ant hitting the big time and deserves some of his future earnings – on top of the fortune he pocketed during their years together.
If a judge agrees, Ant, who could be earning millions for another three decades, may end up having to pay a percentage to his ex every year.
Legal experts said over a lifetime the pay-out could rocket to five times the amount Ant seems willing to hand over.
Though Lisa has not yet officially lodged any mega- claim, Ant and Dec fans turned on her.
Caz4Arsene tweeted: "I don't understand how an ex-wife can have a claim on future earnings.
How the hell can anyone predict the future? But then I suppose 30m is not enough!!! Greed and bitterness playing a part now." Maria Stockdale messaged: "Wow Lisa.
Is £31million not enough." Even without a slice of Ant's extra earnings, Lisa is still set to pocket a record pay-out.
The previous biggest was the £25m Phil Collins had to give his ex-wife Orianne.
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Why you should see a financial planner when getting a divorce - Duration: 3:18.
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Ant McPartlin net worth: How much will his divorce from Lisa Armstrong cost him? - Duration: 6:21.
Ant McPartlin net worth: How much will his divorce from Lisa Armstrong cost him?
Ant and Dec are without a doubt one of the most-loved TV duos in the UK.
They have successfully hosted a bunch of tv shows, including Britain's Got Talent, I'm A Celebrity… Get Me Out Of Here! and Ant and Dec's Saturday Night Takeaway for over 20 years.
It is not surprising that the pair have gathered quite a large fortune from their many successful stints.
However, now Ant and his wife of 11 years, Lisa Armstrong, are divorcing, it could be a pricey settlement.
How much is Ant McPartlin worth? Ant's net worth is thought to be a shocking £62 million – the same as his best friend and co-worker Dec.
They have earned their fortune through ITV jobs and lucrative endorsement deals.
The lovable duo signed a deal with ITV in 2007 worth £40 million – which is no doubt where most of his wealth comes from.
The deal was renewed recently for an estimated £30 million – which means the presenters are locked to the channel until 2019.
In 2016 both he and Dec earned a whopping £29.5 million each, and they have won numerous awards for their presenting.
The pair are paid £2.5 million each for their one-month I'm A Celebrity.Get Me Out Of Here stint.
They also own a production company called Mitre – which is worth £10 million.
Mitre co-produces Saturday Night Takeaway, and helps the presenting duo regularly rake in the cash.
Ant and Dec also invest in property – owning properties worth a combined £10 million.
"It's a huge amount but he wants Lisa to be financially and emotionally supported" Source How much will Lisa Armstrong get from the divorce? It has been reported that Lisa, who has been together with Ant for 23 years, could walk away with half of his fortune.
This means the make-up artist would get £31 million from the divorce.
A source told The Sun: "It's a huge amount but he wants Lisa to be financially and emotionally supported.
"He wants things to be amicable and doesn't want a drawn out court battle with Lisa.
"He still views her as a best friend and wants them both to be able to walk away from the marriage positively.
"He is happy to give Lisa 50% in the divorce if that is what is agreed by their lawyers." The pair met in 1994 on the Smash Hits tour, and tied in the knot in 2006 after being together for 12 years.
Shortly after meeting Lisa he achieved his dream of going on Top of The Pops, and since then she became an indispensable backroom partner.
As Ant's career soarer she helped him make valuable decisions and supported him.
After deciding to divorce, her legal team are reportedly advising Lisa to go for half of his £62 million fortune.
This is because the couple were together for so long – and argue she has contributed to his success.
However, some reports claim that the divorce could cost Ant even more than that, and that Lisa could "end up with fives times the touted £31 million settlement".
Divorce experts appear to believe Lisa is entitled to the enormous pay-out.
Cara Nuttall, of Manchester law firm JMW, said: "It seems likely that they will split their money and go separate ways, rather than Lisa having maintenance.
"Given they are still quite young, most people prefer a clean break and a fresh start.
"It would be surprising if Lisa walked away with much less than half their fortune." Reports say this could be a figure closer to £155 million.
A source revealed to The Sun that Lisa has not yet made a move because she is not motivated by money.
The source said: "She has been focusing on getting through the devastating end of her marriage in one piece.
"But she has a very strong legal team behind her.
The argument is Lisa has been pivotal to Ant achieving his fortune so she deserves to see some of his future earnings.".
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