In July, New York joined Connecticut, Iowa, Massachusetts, New Hampshire and Vermont, as well as the District of Columbia, in legalizing same-sex marriages. Although it might be easier for same-sex couples to marry, getting a divorce will come at a higher price than typical divorces cost.
“Any transfer of assets during a same-sex divorce will be treated as a taxable gift,” says John Rose, who is an attorney at LegalMatch, which matches clients and lawyers.
Further, alimony payments aren’t deductible to the person who pays them, warns Bari Weinberger of Weinberger Law Group. (Those payments also aren’t considered taxable income to the recipient.)