Finances and Taxes

206-926-9848

Financial and Tax Considerations
in Divorce

  • Spousal Maintenance is considered income to the recipient spouse and is tax deductible in full to the paying spouse.
  • Child support is not income to the recipient spouse and is not deductible to the paying spouse.
  • Transfers of real property as part of a dissolution action are exempt from excise/transfer taxes.

Transfers of retirement funds from one spouse to the other in a dissolution are exempt from taxes or early withdraw penalties if done via a Qualified Domestic Relations Order (QDRO).  Generally, when the owner of the account withdraws from a defined contribution plan (401(k), IRA, etc) prior to age 59 ½ they are subject to a 10% percent penalty for early withdraw. When funds are transferred from one spouse to another via a QDRO, the receiving spouse may withdraw their share of funds from the account without penalty.

Areas We Serve

At Elise Buie Family Law Group, PLLC, we represent clients from Seattle and Bellevue, Washington, and the surrounding region, including all of King County and the cities of Redmond, Kirkland, Bellevue, Edmonds, Issaquah, Kenmore, Kent, Federal Way, Shoreline, Des Moines, Bainbridge Island, Vashon, Auburn, Renton and Puyallup. We love working with clients from Seattle's unique, eclectic neighborhoods: West Seattle, Fremont, Ballard, Madrona, Queen Anne, Greenwood, Ravenna, Maple Leaf, Wedgewood, View Ridge, Laurelhurst, Windermere, Madison Park, Magnolia, South Lake Union, Capitol Hill, Broadmoor, Phinney Ridge, Crown Hill, Yarrow Point and Mercer Island.

Contact Us

Call us at (206) 926-9848
Email: info@elisebuiefamilylaw.com

We'll be happy to set up an initial consult. Thank you for looking around our site. We look forward to serving you.

We welcome your email, but please understand that if you are not already a client of Elise Buie Family Law Group, PLLC, we cannot represent you until we confirm that representing you would not create a conflict of interest. Please do not include any confidential information until we verify that our office is in a position to represent you and our engagement is confirmed in writing. Prior to that time, there is no legal representation and thus no attorney-client confidentiality.

Thank you.

Elise Buie Family Law Group

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Elise Buie Family Law Group PLLC
1001 Fourth Avenue, 44th Floor   Seattle, WA 98154

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