News and Views

News and Views

The Charthouse – It’s my understanding annuity law will require that the Pentagon’s blended military retirement system’ assets be divided at the time of divorce. Now, it seems Congress has thankfully broadened that concept to (prospectively) include the Pentagon’s traditional military retirement system’ jointly earned property assets; unless I am wrong, this amounts to California’s depublished Kniss v Kniss decision, in all 50 states. I am advised that North Carolina, and other states, are not currently in compliance with these new regulations. – Read the Entire Article
Open LetterVox Populi (Survivor’s Voices) – The U.S. Tax court ruled that Navy retirement pay to spouse constitutes alimony, (reference U.S. Tax Court rules Proctor v. Commissioner (Lawyers USA No. 9938437) U.S. Tax Court No. 2813-06. Oct. 10, 2007). Is Military Retired Pay (MRP) fit the IRS criteria of Alimony, as explained in the above court case, derived and calculated from current income? Can Alimony be derived or calculated from property? – Read More
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