Bartholomew & Wasznicky LLP
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March 2018 Archives

The effect of bitcoin on future divorces

In our last post, we highlighted the increasing popularity and value of bitcoins, a form of cryptocurrency being used by millions of consumers and merchants across the world. While bitcoin is not currently poised to overtake the U.S. dollar, British pound or euro anytime soon, it is widely accepted across online retailers. Bitcoin can be used to reserve rooms on Airbnb and Expedia, purchase furniture on Overstock, and buy video games on Ebay.

What all divorcing parties should know about bitcoin

Despite how angry they may be with the other spouse, and the lack of trust between soon-to-be ex-spouses, settling a marital property dispute ultimately works best for both parties. Unlike protracted litigation, there is no loser in a mediated settlement. A compromise saves time, money and emotional heartache.

What to expect when starting over

Our readers appreciate the technical knowledge we disseminate in our posts, but many appreciate knowing how their lives will change after a divorce is finalized. Indeed, people can describe what post-divorce life will be like, but in many cases a divorcee will simply have to experience it for themselves.

Parents should avoid pressuring their children during divorce

We often discuss the emotional toll that a divorce may take on a couple, but we may not emphasize enough the impact a split may have on children. After all, few kids want their parents to break up or endure continued turmoil. In fact, they would rather have mommy and daddy to get along and stay together.

Goodbye alimony deduction. Goodbye alimony tax.

It's tax season. With the Tax Cuts and Jobs Act, people are talking. President Trump signed the new plan in 2017, but the changes didn't go into effect immediately. Some have taken place already and will affect returns due in April. Others will wait for next season. There are many positive aspects of this Act that will benefit all taxpayers.

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