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Do Taxes Matter in Divorce Property Division?

Do Taxes Matter in Divorce Property Division?

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The short answer is yes, taxes matter in divorce property division. In family law cases, property is valued at fair market value. The simplest definition of fair market value is the amount of cash one receives if the property is sold or transferred to an unrelated party. The underlying questions we need to ask is, “What is the tax cost associated with turning this asset into cash?” or “Does this liability entitle the borrower to…
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