Divorce is difficult at any age, but if you are divorcing after the age of 50, you could face some unique and thorny financial challenges.
Divorce often doesn't bring out the best in people. Divorcing spouses often feel defensive, angry, and scared, and these emotions can drive people to do things they know they shouldn't do.
Ending a marriage is difficult for many reasons, but one of the biggest challenges people face during the process is dividing assets. Dividing assets is the point at which many divorces become especially contentious because both spouses are often motivated to exit the process with as much property as they possibly can.
Child support payments are critical to the well-being of children. They ensure that both the custodial and non-custodial parent is making contributions to their child's life and needs.
With the holidays behind us and a new year ahead, many people who have been struggling in their marriage find themselves at the point where divorce is all but inevitable. In fact, the beginning of a new year is typically a time when divorce filings and inquiries spike.
January is notorious for a spike in divorce filings. Law firms often report two to three times as many contacts about divorce during this month than any other time of year. Couples point to waiting for one last holiday season before filing, or to the stress of the holidays themselves giving rise to the final push toward divorce.
Couples who are entering into marriage with sizable premarital assets may consider -- or be advised to consider -- a prenuptial (or antenuptial) agreement to protect those assets. For one reason or another, many parties dismiss the option of a prenuptial agreement, only to reassess their situation down the road (even though happily married).
Did you know that most people who are dealing with family legal issues like divorce resolve them outside of court? With some exceptions, all cases are required to try and mediate the dispute before being tried in court. Most cases settle completely, or at least resolve the bulk of disputed issues. Only a small percentage of divorce cases actually go to trial. These typically include complicated, high-asset divorces or divorces involving allegations of abuse or violence, but not always.
Divorce changes families, no doubt. One of the most significant changes to expect is the change in time each parent spends with a child. This is called "parenting time." Decisions regarding parenting time can influence many other areas of a divorce.
Too often, people see child support as nothing more than a financial burden on a parent. However, child support is essential to the well-being and care of a child, and it serves as a means of ensuring that both parents contribute to child's life.