Blog Posts in 2016

  • Divorces Spike in March and August, New Study Reveals

    || 31-Aug-2016

    Many people dislike the month of August for its hot and humid weather. To some, it is an especially bitter time of year for another reason – divorce. According to a new study conducted by the University of Washington’s Brian Serafini and Julie Brines, divorce rates tend to spike on a seasonal basis during the months of March and August. Derived by studying divorce filings in the state ...
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  • Estate Planning Checklist for New and Expecting Parents

    || 26-Aug-2016

    Congratulations on your bundle of joy! At Hollingsworth & Zivitz, we hope for nothing but the best for you and your family. As such, we feel there are few things you should do whether you’re just starting a family or adding to it. The following tips will help ensure your family is protected and provided for in case the worst comes true. Draft a Will This should be the first item on your ...
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  • Eleven Reasons You Should Have an Estate Plan

    || 1-Aug-2016

    1. Avoiding Intestacy The main reason you should have an estate plan is ensuring your assets are distributed according to your wishes. If no plan exists when you die, your assets are distributed by the rules of intestacy. These rules can cause unwelcomed surprises for beneficiaries expecting an inheritance, and result in distributions contrary to your wishes. Many people intend for everything to ...
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  • Your Rights as a Taxpayer

    || 26-Jul-2016

    While many people are aware of the Bill of Rights contained in the United States Constitution, very few people are aware that the Internal Revenue Service has adopted its own Bill of Rights for any and all United States taxpayers titled The Taxpayer Bill of Rights. These rights were formulated from pre-existing rights in multiple sections of the federal tax code. In an effort to make these rights ...
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  • Types of Tax Liability Relief Available to Spouses

    || 18-Jul-2016

    Many people believe the only way to avoid liability for your spouse’s tax liabilities is by filing Married Filing Separately. While this form is easy to accomplish, it is unfavorable due to the implications. Filing separately can result in combined tax liabilities; the denial of refundable tax credits such as the Earned Income Tax Credit, both educational credits, adoption expense credits; ...
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  • Divorce & Shared Bank Accounts: What Happens Now?

    || 13-May-2016

    In just about every marriage in America, the two spouses decide to share one joint bank account that controls and holds the finances of their family. It is a convenient way to take some guesswork out of monthly budgeting, so it certainly has its advantages. But few married couples consider how disadvantageous and inconvenient a shared bank account becomes once the marriage comes to an end and ...
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