0:04
so taxes are such an important part of
0:06
the divorce settlement and it’s such an
0:08
important thing for the matrimonial
0:11
attorney to be able to spot the tax
0:14
issues so for example we’ve talked about
0:18
in in some of our dialogue restrictive
0:20
stock well restrictive stock units
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usually are taxed when they vest they
0:25
are treated as income at that point and
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so if you are trading for example the
0:31
idea of keeping your restricted stock
0:33
and giving a payout for your restrictive
0:36
stock units make sure that you’ve
0:38
actually taxed them appropriately and
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make sure you do a true up later that
0:43
that is in your agreement important so
0:46
that if there’s a tax issue later you
0:49
can true it up maybe you took too little
0:51
in terms of taxes or pay too little
0:53
that’s important it’s also important to
0:56
make sure that you spot other tax issues
0:59
such as capital gains taxes you may want
1:02
the family home for example but maybe
1:04
you bought that family home 25 years ago
1:06
with your spouse well there’s likely to
1:09
be capital gains when you sell the
1:10
family home so you need to think about
1:13
that because you may not get credit for
1:15
those capital gains at the time of your
1:18
divorce if you’re keeping the family
1:20
home why not because nobody knows if
1:22
you’re going to sell it and you’re
1:23
actually going to incur those capital
1:25
gains taxes so it may be wise actually
1:28
to sell the family home during the
1:31
divorce or to actually figure out a way
1:35
that you can both hold on to the family
1:36
home and get the tax deduction the full
1:39
actual um deduction which is a
1:42
$500,000 deduction as opposed to a
1:45
$250,000 deduction that you can get so
1:47
that you’re not paying capital gains
1:49
taxes on the full amount of your gain
1:52
that’s another way to to think about
1:54
this there also may be Actual taxes on a
1:57
business if you were to sell your
2:00
business make sure that actually you’re
2:02
calculating those taxes if there’s other
2:04
real property you have to think about
2:06
capital gains for that you may need to
2:09
think about your brokerage accounts your
2:10
brokerage accounts may have increased
2:12
you might have bought that stock 20
2:14
years ago well there’s going to likely
2:16
be capital gains on that stock so you
2:19
need to think about that and how it’s
2:22
going to be calculated and so if you’re
2:24
keeping the stock and doing a payout you
2:27
you have to think about what are the tax
2:29
issues here if you’re trading it and or
2:32
or transferring it in kind meaning that
2:34
you’re each going to get a portion of
2:38
the stock units whether you bought the
2:40
AT&T stock for example at $10 or $20 or
2:44
$30 that on each tranch that you bought
2:46
it you’re going to split it equally so
2:49
that the tax cost basis is dealt with
2:52
equally that’s something to think about
2:54
as you go through this divorce process