Tax and Financial Planning in the Context of Divorce

In any marital separation, taxes are a special consideration you must address. Our divorce tax attorneys in Illinois offer guidance in this area.

Schiller DuCanto & Fleck LLP not only has always been in the vanguard of understanding how taxes impact its clients, but its Chicago divorce tax attorneys also have been instrumental in the simplification of federal tax law. Even so, individuals who are unfamiliar with the Internal Revenue Code may find the process overwhelming and stressful.

The Chicago firm of Schiller DuCanto & Fleck has trained litigation attorneys who are well versed in federal tax law, having worked for the Internal Revenue Service and practiced before the Service. Some of these family lawyers are also Certified Public Accountants, Certified Financial Planners, and Certified Divorce Financial Analysts. As tax law constantly changes, these lawyers maintain their proficiency by not only reading about the law and attending seminars but lecturing to other lawyers and accountants on this subject throughout the United States and abroad.

How Can a Divorce Tax Attorney Help?

Taxes can add a significant financial burden to either party’s livelihood, so it is crucial to factor this expense into any potential settlement. One spouse may lose money if the tax implications of property division or family support are not considered. When you consult the Illinois family law attorneys at Schiller DuCanto & Fleck, we can present the court with detailed information regarding the tax issues. This ensures a fair outcome for our client at the trial’s conclusion.

Should a client decide to work with a separate financial planner or tax advisor, our divorce attorneys will maintain clear and open communication with these professionals. We will work closely to obtain all the necessary evidence and documentation to represent the client’s needs successfully. This ensures that all relevant information is available during the negotiation or court proceedings.

Proper Financial Planning May Prevent Court Proceedings

When parties carefully negotiate tax issues and layout all financial implications ahead of time, a collaborative settlement is often the result. In these situations, it is common for both parties to benefit from the terms of the agreement, which makes a trial unnecessary.

If you wish to begin divorce negotiations from a collaborative perspective, a divorce tax attorney is essential. In Illinois, Schiller DuCanto & Fleck advise on tax implications and financial planning issues, so concerns on both sides are appropriately addressed. Contact us today for a consultation.

 

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