14. Tax Considerations Before, During, and After Marriage with Tax Attorney Brian Bernhardt

You probably know that it’s best to be fully transparent with your future or current spouse about your financial circumstances, but what about transparency about your tax history and issues? In this episode, Theresa is joined by Brian Bernhardt, Tax Attorney at Fox Rothschild, to discuss what happens if there are tax liabilities before marriage, how to protect yourself from tax issues during the marriage, and where you may still be liable for your spouse’s tax obligations even if you didn’t know about them. Need legal help in your family law matter? Schedule a consultation with our team to make sure you and your future spouse are both legally protected should a divorce occur. Some key takeaways from this episode include: Spousal Agreements can specify who is responsible for tax liabilities. It is crucial to have financial transparency going into your marriage about your assets and your liabilities, especially tax liabilities. Based on your unique financial relationship with your partner, it might make sense to keep your bank accounts and tax filings completely separate. If you are separated but not yet divorced, it’s important to work with a family law attorney and tax professional to understand how to divide financial assets and liabilities.  The Legal Lounge podcast aims to dispel misinformation and downright bad legal information to empower anyone with questions about their family, their children, their finances, their marriage, and the law. As a team focused exclusively on family law matters, we aim to help you not only with the information you need, but also with the hope that your situation has a solution.  Modern Legal is a family law firm based in Charlotte, North Carolina. Our Modern Legal team can help you navigate the legal system when the law and your family collide. We help turn confusion into confidence, helplessness into empowerment, and frustration into action.  Connect with Modern Legal: Website Phone: 704-286-6302 Instagram LinkedIn YouTube Facebook  LEGAL DISCLAIMER: This podcast is for educational purposes only and the information should not be relied upon as legal advice or for legal purposes.