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San Diego tax lawyers can help with past taxes caused by a divorce.

Submitted by admin on Wed, 7/8/2015 - 10:37 am

There is nothing more emotionally or financially crippling than a divorce. Handling all of the issues that go along with a separation or divorce are pretty tough. Keeping the correct mindset can sometimes be more than you think you can deal with. It’s important to try and take a step back and make sure you are able to keep up with any loose financial issues in case the situation gets too bad.  If you’re able, try to get everything in writing regarding any joint accounts or financial issues you might have with your ex-spouse. Here are a few things to think about if you happen to be in this situation.

The first thing you’ll want to do is close all of your joint accounts. An open account will open you up to future liabilities that will come back to haunt you. Once you’ve done so, be sure to confirm with whichever financial institution you use, that the accounts cannot be re-opened or unsuspended. Some accounts can’t be closed without permission from both parties, so the quicker you address those potential hang-ups, the better.

The next move you’ll need to make is to change the beneficiaries on your accounts. Talking to an estate lawyer can help you to make all of the necessary changes and establish new beneficiaries. You’ll also want to make sure that you update all of your personal insurance coverage. If you have a broker, they should be able to help you. If not, you’ll need to contact all of them individually.

Next, you’ll want to think about making new tax projections. Do your best to estimate what you’re income will be in the future. Make sure you take into account any possible child or spousal support  and expenses.  A San Diego tax lawyer can help you though all of these issues even if you’re well into the divorce process. Finding a tax lawyer in San Diego like Tax Tiger can help you get things straightened out. Even if you are behind in any past taxes, tax resolution services in San Diego are available to help reduce and establish a doable plan for your new financial situation.

Source:  Post-Divorce Financial Checklist – October 07, 2014 – Divorce Magazine