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2018

Blog Posts in 2018

  • Corporation or Limited Liability Company - What is better for you?

    Many people starting their first business have the mistaken belief that a corporation offers different and better protections than a limited liability company, also referred to as an LLC. They tend to think of the LLC as a "corporation-lite," something lesser, not having quite the "muscle" of a full-blown corporation. Even many experienced business people and sophisticated business owners have the ...
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  • The Impact of Retirement on Spousal Support

    What happens when a former spouse has been ordered to pay spousal support indefinitely, but now wants to retire? In the past, some Virginia courts ruled that the payor's retirement - even if at a normal retirement age - does not warrant a reconsideration of spousal support. This created quite a predicament for a payor who wanted to retire but didn’t know whether he or she would be able to obtain a ...
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  • Cohabitation before Marriage and Its Impact on Divorce

    Many couples live together for years before deciding to tie the knot. During long periods of premarital cohabitation, what happens when couples mingle finances or contribute to the value of each other's assets? What if most assets are in the name of only one spouse? In Virginia, marital property and debts are divided in divorce under a system called “equitable distribution.” The equitable ...
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  • Meet Stephen K. Lewellyn

    Stephen K. Lewellyn , a partner with Davies, Barrell, Will, Lewellyn & Edwards, PLC, has been with the firm since graduating law school. What types of law do you practice? My practice is in two areas. The first is business law , which includes establishing and organizing entities, such as corporations, limited liability companies, and other business consulting work, as well as commercial ...
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  • Changes are Coming for Alimony Taxation

    The new tax law will have a big impact on families going through a separation or divorce. Alimony (known as spousal support in Virginia) has long been considered taxable income for the recipient and deductible from the payor’s income. Beginning January 1, 2019, that deduction is repealed. In other words, the payor of spousal support will be responsible for paying taxes on that income, not the ...
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