What should she do with the money?

In the event of a divorce a couple has the house/land appraised. The husband pays the wife 90K for her half. What is the best thing to do to keep from the wife being taxed on the 90K at the year end. That is a lot of money and she may not be ready to sink it in a new home or land until she feels more stable. What should she do with the money?

Asked on June 9, 2009 under Family Law, Alabama

Answers:

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

You cannot get that type of advice here. We do not represent you as your counsel and financial advisor and giving such advice without direct consultation with you would be tantamount to malpractice and disbarment, especially if you relied on the advice.

You need to hire a divorce attorney or financial accountant/advisor to help you -- try www.attorneypages.com for a lawyer in your state and check his or her record at the Alabama State Bar.


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