Category Archives: Divorce
Why Do Divorce Waiting Periods Exist?
If you want to get divorced, you can’t go out and make it happen that day—there are mandatory waiting periods in place that you’ll have to weather before you’re able to make it official. But why do these waiting periods exist? Here are a few of the biggest reasons: Possibility of reconciliation: Many states with… Read More »
Will the U.S. See its Divorce Rate Spike After the COVID-19 Quarantine Ends?
With so many American residents stuck at home with their families, prognosticators have predicted that several months down the road, the country could experience a baby boom and a divorce deluge. Unlike a cozy blizzard that keeps you home from work for a few days, a global pandemic that triggers shelter-in-place orders spreading over multiple… Read More »
What is Considered Marital Property?
Marital property is a legal term used in divorce law in the United States that refers to any property acquired during the course of the marriage. Any property a person owned before entering the marriage is classified as separate property, and property such as inheritance or gifts are also considered separate property, even if acquired… Read More »
Separate Bank Accounts is Not a Method for Protecting Assets in a Divorce
More married couples today are opting to forego getting joint bank accounts to keep their finances separate after marriage. There are plenty of pros and cons to either approach, however it is important to note that if your marriage ends in divorce, having separate bank accounts will not protect the assets you place in them,… Read More »
Who Gets the Stimulus Check When Spouses Are Separated or Divorcing?
Going through a divorce is stressful enough, but the coronavirus pandemic spreading throughout the United States presents additional complications for spouses who have decided to split. In addition to changes that might need to be made regarding custody and visitation arrangements while travel is restricted, negotiations over property division need to address any new economic… Read More »
How Accurate Was Netflix’s Marriage Story in its Divorce Depiction?
Marriage Story, a Netflix original movie starring Adam Driver, Scarlett Johansson and Laura Dern, has received critical acclaim and a variety of Oscar nominations and wins. The story focuses on Charlie (Driver) and Nicole (Johansson), who are going through the process of a divorce while raising a son. The pair start off hoping to get… Read More »
Avoid Taking a Hit to Retirement Savings During Divorce
While the divorce rate has seen a drastic drop-off over the last couple decades, there is one demographic for which it is actually surging, and that is people over 50. The rates of “gray divorce” have more than doubled since 1990, according to information from Bowling Green State University’s National Center for Family and Marriage… Read More »
Tax Strategies That Could Help Your Divorce Settlement
Interested in finding ways to make your divorce settlement easier? Here are just a few strategies you could consider implementing. Put alimony in a trust The changes in how alimony would be taxed opened up some new possibilities for how you’ll deal with alimony. The spouse paying alimony is no longer able to deduct the… Read More »
What You Should Know About Divorce and Taxes
We’re in the thick of tax season now, but it also happens to be the time of year at which divorces surge. Therefore, if you’re starting a divorce process now, it’s important you keep tax considerations in mind. Here are a few things you should know about divorce and taxes. Know your filing status: If… Read More »
How Did Divorce Change Over the Last Decade?
The trends in the field of divorce and the way divorce is perceived in general have changed a bit over the last decade. It’s getting increasingly less likely that couples will find themselves in knock-down, drag-out fights over most divorce related issues. Shifting gender norms have resulted in a more neutral perspective in most issues,… Read More »