You poured your heart and soul into a new business venture, and just as it is beginning to gain traction, your marriage suffers and your spouse files for divorce. While the marriage may be irretrievably broken, the business certainly is not, and you may not feel like sacrificing the business in a divorce.
It's no secret that most divorce settlements are born out of compromise. Divorcing parties choose to give up something in exchange for foregoing protracted litigation that could (or could not) give them something bigger.
Walking down the aisle. Signing official legal documents. Committing yourself to one person for the rest of your life. It is a major decision - and one that requires a giant leap of faith - but how do you know you are making a good decision? Why not ask those whose job it is to untangle lives that haven't gone as planned?
Going to court can be an intimidating event, especially if you have never been there before. Standing in front of a judge who has the power to make decisions that will affect your life? That alone can be frightening. Add the formality of the process and lack of familiarity with the law to the situation, and it is no surprise that most people don't want to go to court.
Despite the commercials from tax preparation companies, tax season will only begin for consumers when they receive their W-2 reports and begin filing for tax return refunds. For those who are filing their first post-divorce tax return, they may be anticipating the benefit of being able to claim the Child Tax Credit, as it can reduce a person's income (for income tax purposes) for each child under the age of 18 that they care for.
We have noted in a number of our posts how divorce can be a stressful time in life, especially if the basis for the divorce is adultery. Aside from the emotional trauma infidelity can cause, some people may be concerned that an extramarital affair may negatively affect them in family court. This post will briefly explore this question and provide some basic answers.
Lying awake waiting for a scared or sick child to fall asleep when a tough day at work had you wanting a bath and a glass of chardonnay. Taking your kids to the park when taking a run would do more for your waistline. Spending hundreds of dollars you saved for airfare and hotels on tutoring to keep them from falling behind.
It is a fact. Women are choosing to get married later in life. According to a recent U.S. Census Bureau survey, the average woman is getting married approximately 4.3 years later than they would have in 1970.
Indeed, asset division is an important part of divorce and can raise passionate arguments regarding how the marital estate should be apportioned. This could be complicated when marital assets must be sold (such as a home or business) and no consensus exists regarding a fair market value. The sweat equity put into a business or personal modifications to a home may lead to mixed emotions over the true value of such property.
If you are considering divorce, or are in the midst of a custody dispute, you may think that the worst is yet to come. After all, people usually don't go into a divorce cheerfully. Because of the emotional strain that divorces and custody battles can have on a person, it is important to go into these situations with the right mindset. Not only can it be emotionally forgiving, it could also save you thousands of dollars in legal fees.