Friends and family are your support system. They have been with you through the best and the worst moments of your life. Whether you needed them to hold your hand, have your back, take your side or provide a distraction, they were there.
In a prior post, we highlighted the importance of preparing for one's post divorce financial life. Living without two incomes may be unfamiliar for some divorcees, with many needing to make major concessions to make ends meet on one salary. Even with child support, many divorcees may need an adjustment period in order to get used to this new reality.
With the federal income tax filing deadline passing this week, those who have procrastinated are probably stressing out over the prospect of not having the money to pay their tax bill (if they owe money). For those who anticipate a refund, you can take solace in knowing that your money isn't going anywhere.
In our practice we find many stories of children being upset, defiant and ultimately unhappy. The stories are truly heartbreaking, and the common theme surrounding their despair is that parents (yes, both parents) are equally responsible for their troubles. For the most part, children of divorce are very resilient, and in time they become successful and productive adults. However, the scars inflicted through divorce are very real and in some cases, the resentment still remains.
It almost goes without saying that you must protect your financial interests in a divorce. This can be accomplished by securing spousal or child support, or by ensuring that your marital property is divided equally. However, while working to reach a financial settlement, divorcing parties must make certain that jointly held debts do not affect them in the future.
In our last post, we highlighted the increasing popularity and value of bitcoins, a form of cryptocurrency being used by millions of consumers and merchants across the world. While bitcoin is not currently poised to overtake the U.S. dollar, British pound or euro anytime soon, it is widely accepted across online retailers. Bitcoin can be used to reserve rooms on Airbnb and Expedia, purchase furniture on Overstock, and buy video games on Ebay.
Despite how angry they may be with the other spouse, and the lack of trust between soon-to-be ex-spouses, settling a marital property dispute ultimately works best for both parties. Unlike protracted litigation, there is no loser in a mediated settlement. A compromise saves time, money and emotional heartache.
Our readers appreciate the technical knowledge we disseminate in our posts, but many appreciate knowing how their lives will change after a divorce is finalized. Indeed, people can describe what post-divorce life will be like, but in many cases a divorcee will simply have to experience it for themselves.
Money does not grow on trees. It is not something most people come by easily or have in excess. It is quite the opposite for the average person. This can make finances a pain point in even the strongest relationships.
Divorces tend to increase in the early months of a new year. Whether parents simply start the process of finding a family law attorney or actually file papers differs, but one thing is for certain; the children must be informed.