With fall quickly approaching, it is that time again, at once bittersweet and anticipated by parents everywhere – back-to-school. But, if you are recently separated or in the midst of a divorce, this first back-to-school season will be another in a series of adjustments. Summer certainly had its own challenges and negotiating vacations when children are not in school can be tough, but the upcoming school year poses its own unique issues to face. Read more.
There has been a recent rise in “gray divorce” – a buzzword coined for those couples divorcing after the age of 50, many of whom have been together for a number of decades. The number of divorces in this age group may be increasing, but this does not change the unique challenges faced by these splitting couples. After all, the longer you are married the more intertwined your life, finances and obligations.
For many of these couples, the woman is at an additional disadvantage. While more and more women are nurturing their own careers and playing an active role in financial planning, there was a time when this wasn’t necessarily the case, and many women deferred the handling of financial matters to their husbands. While this may have made sense at the time, especially in a single income household, it can cause a number of tax related problems when a couple decides to divorce. Read more.
Divorce is a highly emotional time and when you are going through such a trying life event, practical matters may be far from your mind. But despite the emotional toll, it is important that you consider financial matters – if not for yourself, for the well-being of your loved ones. You will get through this difficult period, and once you are on the other side, you will surely want to enjoy your new life.
Asset division can make an already emotionally heightened experience even more overwhelming, but if you take it one step at a time, you will get through it and be glad that you didn’t let your finances fall by the wayside in the midst of turmoil.
Here are 3 financial tips to help you through a complex divorce. Read more.
If you are going through a divorce, there are many things to consider. It is a difficult time, emotions are high, and you are confronted with a number of decisions that you may not be in the best state of mind to make. Now, no two divorces will be identical, so while having a support system who has “been there” can certainly be helpful, their situation may be extremely different then yours.
There are a variety of factors that can contribute to a divorce, and depending on how the decision was come upon, you and your ex may be on civil terms, but other times, if the relationship ended badly, communication and compromise may be impossible concepts to wrap your mind around. Because each divorce is different, each course of action is also different. While some couples have relatively simple cases without much contention between spouses, other couples may have more complex divorces that require careful and strategic planning. Read more.
If you have recently gone through a divorce or are currently going through one, the summer may seem like a daunting proposition. A season typically filled with leisure, relaxation and fun in the sun may now bring up feelings of anxiety and uncertainty. This is especially true if there are children involved. As parents, you will certainly want to make the transition as easy as possible for your children, and this can be more complicated in summer when school is out and many embark on annual family vacations. Read more.
In India, divorce law holds that couples seeking a divorce must spend a minimum of one year living separately before a divorce can be granted, but a recent case has highlighted a particularly interesting exception to this rule.
Although they had not been living apart for one year, Indian couple Deepak and Aswathy challenged the Alappuzha family court’s denial of their divorce. The couple was married on May 13, 2011 and had lived separately since June 30, 2011 – which was not a year from the date of their divorce filing, May 16, 2012. Yet, they ascertained that their marriage had suffered irreconcilable differences. Read more.
We recently took a look at some unique divorce stories, and one of the couples featured was the record holder for the oldest to divorce — a 99-year-old man in Italy, who divorced his wife after learning of an affair she had 70 years before.
While many would think, what is the point of going through a divorce after all that time, when you have very nearly made it to 100 years old? Most likely, the divorce was not a means for him to start over, but to be at peace. And that’s a sentiment felt by many who divorce, whether age 29 or 99. Read more.
Bitcoin has become a buzzword recently, more well-known to some than others, but unless you live under a rock that does not get WiFi, you have surely at the very least heard the term tossed around. For those less informed on the emerging value system, Bitcoin is a digital currency used as a peer-to-peer payment system. Developed in 2009, bitcoins can be exchanged for goods, services and other currencies. While bitcoins have been under fire for their use in illegal activities (e.g. the recently exposed online black market Silk Road), they have legitimate uses as well, making the debate over this new cryptocurrency a hot-button topic. Read more.
Learn more about Bitcoin, Cryptocurrency and Divorce:
“Bitcoin Bitterness Starts to Make Messy Divorces Even Worse,” Hannah George, Bloomberg News (2018) (Jonathan Fields quoted)
Cryptocurrency and Divorce: A Primer
IRS Notice 2014-21: Virtual Currency Guidance
If you are going through a divorce, you are no stranger to the advice of loved ones who mean well, but ultimately may not know what is best for you and your unique situation.
Your family and friends, after all, only want the best for you. They are on your side one hundred percent, which although reassuring, may make their opinions slightly bias. In the initial pain of divorce, having an aggressive cheerleader in your corner may be comforting. They may be the ones in your ear telling you to take extreme measures – kick him out, take him to court, get full custody, etc. These are often words meant as encouragement to get you through a difficult time, but in most scenarios they are excessive means which will only cause further conflict down the road, especially where there are children involved. Read more.
Divorce is a trying time for everyone who goes through it, but each divorce is also different. Whether the couple has been married for a lengthy span, if there are children involved, if the parting is amicable or the separation is wrought with hostility and resentment. With so many unique concerns to consider, there is not a “one size fits all” approach to divorce. Read more.