Anchorage Family Law Blog For Men

If you are about to begin your divorce process, one of the main worries you can have is with custody and how much time you will be spending with your kids. The good news for dads is that even though history has shown that moms have typically received more custody time than dads, that statistic is changing. The courts are recognizing that both the mother and the father should be granted the same amount of time when raising the children.

It has become increasingly accepted that shared parental duties will create a healthier and more fulfilling upbringing for the children. Once a divorce is finalized, you are not a part-time parent. Your amount of physical time may be changed with your children, but the emotional bonds you create as the father should still stay strong.

Fathers in Alaska who are hoping to maintain positive relationships with their children may wonder what is involved in the custody process. First, it's important to understand the different types of custody. Some people may think of custody as being about which parent a child lives with. While that is known as physical custody, there is also legal custody, and this determines which parent is able to make major decisions about the child's life.

One parent could have full custody, or custody may be shared. While parents might not share physical custody, they could share legal custody. However, even if one parent has full custody, that doesn't mean the other parent won't get to spend time with the child. That parent usually still has visitation rights.

Married couples who are separating in Alaska should be aware that tax laws regarding alimony will change for divorce agreements that are completed after the end of 2018. Starting on Jan. 1, 2019, alimony will no longer be tax-deductible for payers or tax-payable for recipients. Experts say that this is likely to mean less money for both parties.

Some couples are dealing with this by trying to finalize divorce agreements before the end of the year. Those who are taking this route should know exactly what they and their spouse will need in the property division process. While the agreement can be drawn up quickly, it is also possible to modify it later if either person decides they are unhappy.

Couples in Alaska who are getting a divorce should understand how dividing certain types of assets will affect them tax-wise. For example, many spouses do not pursue their share of other assets in order to retain ownership of the family home. However, because of changes in the tax law, it could more expensive than they thought to own the home.

According to the tax law, individuals can only deduct $10,000 a year in local and state taxes. This means that homeowners will have increased taxes if they reside in states that have high property taxes. People getting a divorce should also be aware that the interest in home equity loans and home equity lines of credit can no longer be deducted if they do not use the funds in order to purchase, construct or substantially enhance the home. If the home equity line is used for some other reason, such as paying off credit card bills, the interest cannot be deducted.