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August 2018 Archives

Student loans can be a factor in divorce

Many people have student debt here in the United States. Reportedly, there is currently around $1.5 trillion in outstanding student loan debt in the nation. The average outstanding student loan balance is estimated to be over $34,000. So, it is not uncommon for couples to enter marriage with one spouse or both spouses carrying a fair amount in student loans.

A spousal support tax break is coming to an end

For over 70 years, Americans paying spousal support have received significant tax breaks, especially in cases involving a large wage gap between former spouses. This break is coming to an end in 2019. A recently developed law will remove tax breaks on spousal support payments that are finalized after December 31, 2018. Both individuals paying and receiving support will be affected.

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