It is not yet known how the federal tax reforms will change life for most Americans. Some wage earners have seen a boost in their take-home pay. Many business owners report a bump in their bottom line.
The landmark tax reform bill put more money into most Americans' pockets through changes in tax rates and withholding. But it could have the opposite effect for future divorces, shrinking income at a time when it is most needed.
When the legislature and Gov. Christie amended New Jersey's alimony statute in 2014, it was a game-changer. It brought predictability and sanity to a system that was at times arbitrary or unfair. The new rules aren't perfect and are not always welcome news to divorcing spouses. Some think the reforms went too far, others not far enough.