Is There a Good Time to File for a Divorce?

couple consulting a divorce attorneyMarried couples in the U.S. typically seek legal counsel in January about the involved procedures of filing for a divorce, which led the month to become the unofficial “divorce season.”

Unlike in December, which has been dubbed the “engagement month,” divorce inquiries normally increase in January before reaching their peak in the next two months.

Post-Holiday Blues

Kathryn Smerling, a New York City-based psychotherapist, said that couples normally delay their pursuit of divorce until January due to the preceding holidays. Whether the children know something is amiss, their parents try to keep up a happy disposition throughout the festive season.

A reason for the delay involves indecision, as many remain uncertain how to handle child custody and financial issues, according to Smerling. In 2018, divorce may be more common among married couples in the U.S. due to the impending tax reforms by next year. The changes include alimony payments that will no longer be tax-deductible for paying spouses. For this reason, many will try to rush the divorce process to avoid such scenario.

In Colorado, those who plan to file for a dissolution of their marriage may consult with a Denver or Colorado Springs divorce lawyer, particularly when the issue is a complicated one.

The Long Case

While some Americans hurry to finalize their divorce, there are issues that cause it to drag on (and cost more), such as child custody and support, alimony, and division of property and debt. In fact, some issues go on even after you’re long divorced from your spouse. While you may file around January, it could take longer than you expect.

Legal counsel will be one of your first options before filing for a divorce. Have you found a good lawyer? They’re your key to filing a fast and (hopefully) less costly divorce.

 

Financial Mistakes in Divorce That Can Jeopardize Your Future

Financial Blunders in Divorce in Colorado SpringsCouples often treat divorce as an escape from the troubles of the present. For others, it’s a positive transition into a better, more satisfying life. Either way, the process is anything but fast and cheap. It generally results in a significant financial for all parties involved.

The advantages of divorce are pressing, but so are the risks. Whether you are the breadwinner, a stay-at-home parent, or a financial equal of your partner, the stakes can be high.

In your preparation for a divorce, it’s critical to know about all financial circumstances of your marriage, divorce lawyers from Gordon N. Shayne explain. This includes shared debts, like credit cards, loans, and mortgages. You should also have a list of all properties you and your partner own or have invested in, among other things. Or else, you’re at risk of committing these mistakes:

Not having an inventory of your assets

Financial experts stress the importance of knowing your family’s assets and liabilities. Draw up an inventory of valuable property, not just shared real estate, but also furniture, collectible items, cars and the like. Get access to tax returns, household bills, statements from investment and retirement accounts, and other important records.

Insisting on keeping the family house

It’s hard to give up the family home, especially if it comes with sentimental value, but fighting for it can make you lose money in the long run. It had taken the joint financial power of you and your partner to run the household – doing it on your own can be far too expensive. It can eat into your savings, drain your cash flow, and may only delay the inevitable relocation, which you should’ve done in the first place.

Failing to consider unexpected expenses

Beyond housing, think about other expenses, like clothes, food, health insurance, etc. All of these are affected by divorce, so make sure you can pay for them without any financial support from your ex-partner.

In divorce, one thing is certain: you will face unforeseen expenses. The ideal way to go about the process is knowing as much as you can, as early as you can.