The cliché that only death and taxes are certain in life has been proved right all too often; even in events as discomfiting as divorce, it is prescient to pay attention to the tax implications of property settlement before, and after, the dissolution of marriage. The recent high profile divorces of (Jeff and Mackenzie Bezos and Bill and Melinda Gates, has without doubt, made this a topic of interest. According to a recent Forbes article, of the fifty (50) wealthiest people in America, nine (9) are divorced, whilst another eleven (11) have divorced and remarried. These ‘re-alignments’ will obviously have financial, and therefore, tax implications.
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