Gelman & Associate's statement regarding COVID-19 - Read More

Our tax system generally imposes tax consequences where property is transferred between persons related to one another (referred to in tax terminology as non-arm’s length parties) for any amount other than the fair market value of that property. However, different rules apply where property transfers take place as a result of marriage breakdown.

Generally, there are no immediate tax consequences where property is transferred from one spouse to another, as long as the parties are separated as a result of the breakdown of their marriage and the transfer is in settlement of property rights arising out of that marriage.

Back to Article: Divorce and Money Matters Can be Taxing

Contact Form - Contact Us

Fill out this form to request a free consultation (some exceptions apply) and someone will call or email you.

Personal Information

Contact Preferences

How would you like to be contacted? Click all that apply.

How can we help you?

Brief description of your legal issue:

The use of the Internet or this form for communication with the firm or any individual member of the firm is not secure and does not establish a lawyer-client relationship. Confidential or time-sensitive information should not be sent through this form.

Sending