Ex-wife can ‘claw back’ millions in hidden assets

When marriages go bad, feelings can be raw, making it tempting to want to hide assets to punish your soon-to-be ex. But if you get caught, the consequences can be severe, as a recent case shows us. The couple in the case, Robert and Janet Foisie, decided to divorce in 2010. They went to mediation, where they agreed to fully disclose and equally divide their assets. Robert also allegedly told Janet during mediation that he had no “offshore assets.” A year later, after both spouses had allegedly fully disclosed their assets in a Connecticut family court, they executed a divorce
Continue Reading

Alimony Tax Deduction: Time is Running Out!

Alimony is the legal term for spousal support separate and apart from any child support order. Alimony can be Ordered under Massachusetts General Laws Chapter 208, Sections 34 and 48 – 55. There are different types of alimony known as rehabilitative alimony, reimbursement alimony and general term alimony. Rehabilitative alimony is a short-term length payment designed to help a spouse get on his or her financial feet after a divorce. Reimbursement alimony is when one spouse has paid to put the other spouse through school or job training program and that spouse seeks a divorce once they make it through
Continue Reading