High-income couples who divorce this year are facing a new tax landscape, thanks to the American Taxpayer Relief Act. While Congress avoided sending the country over the fiscal cliff, the new law presents a bit of a learning curve for everyone involved in the breakup of a marriage.
For many couples in Illinois who get divorced, property division may be at the top of the list of priorities when it comes to hammering out a settlement. After all, each party wants to get what it thinks is fair. However, some people may fail to take the bigger picture into account. After all, while property is important, there will be several ongoing expenses that will need to be dealt with.