The new tax bill has lots of changes that impact people getting divorced and while there's been plenty of media coverage of the changes, that coverage has been short on the divorce related details and specifics such as the tax year in which changes take effect or reminders about changes that will revert in 2026.
Understanding these changes is important for anyone negotiating a divorce settlement and especially important if you started those negotiations last year. What makes this even more critical is that most of the time, once your settlement agreement becomes a court order, you are done. There are no do-overs and your STBX is not going to renegotiate something just because you didn't understand the impact of the new tax law.
Thankfully, we do not have to wade through the bill itself to learn about the changes. We can turn to experts for that and one of those experts is Michael Wayland, assistant professor at Methodist University who is also a mediator. Wayland has written a white paper on the impacts of the new tax bill on divorce and joins Mandy to discuss his White Paper in this Conversation.
You'll find a synopsis of this Conversation at Mandy's Since My Divorce blog.