CORONAVIRUS (COVID-19) NOTICE LEARN MORE

Articles Posted in Divorce

Shared-Finances-AdobeStock_297795500-300x169Even when a couple grows apart, it doesn’t always mean they stop caring for each other, particularly if they had been in a long-term marriage. They may lead separate lives, both physically and emotionally, yet remained legally married because their finances are so intertwined that moving from shared to separate accounts is more complex than simply divvying up their assets. Fear and uncertainty prevent them from finalizing their divorce.

Understanding what to expect your financial future to look like after divorce, especially in terms of major issues like taxes, healthcare and even income, is the first step toward freeing yourself to move on with your new single life. To learn more, read “How To Free Yourself Financially From Your Ex-Spouse.”

Divorce_rules_AdobeStock_290827149-300x169People rarely think clearly or make their best decisions when emotionally upset and divorce ranks right up there as second on the list of life’s most stressful events. It’s no wonder because not only are you legally dissolving your marriage, but you also are experiencing an emotional separation from a way of life you’ve become used to. Sometimes that necessitates moving to a different house or neighborhood; cutting ties with extended family and friends or, at least, adjusting to the changing dynamics of those relationships; and learning to make decisions on your own where before you had a partner to help you weigh the options. All of this makes breaking up hard to do, as the song goes.

As hard as it may be, sometimes breaking up is inevitable. When it becomes obvious that divorce is the best – and quite possibly, the only – solution to marital problems, there are steps you can take to make the process a little easier so that you come out healthier on the other end. To learn more, read “6 Rules of Engagement for Your Divorce.”

Co-Parentind_AdobeStock_267042826-300x200For many divorced couples, a co-parenting agreement seemed like the perfect solution for raising their children under imperfect conditions. But then came COVID-19 and all of its related restrictions, which changed the co-parenting landscape especially for families where at least one parent is considered an essential worker. Even now as we begin to emerge from the constraints relating to this virus, we’re being encouraged to exercise caution and maintain our social distance whenever possible. This leaves divorced parents facing a lot of questions.

Technically, custody and child visitation agreements entered into prior to the recent pandemic are still valid. But what do parents do when they don’t feel comfortable with the precautions their ex-spouses are – or aren’t – taking? Today more than ever successful co-parenting requires a greater effort in cooperation. For some guidelines on how to manage your co-parenting arrangements during these unprecedented times, read “Better Safe Than Sorry: Co-Parenting in the Age of Social Distancing.”

Divorce-and-virus-400-04972504d-300x189

If you filed for divorce immediately prior to or during this time of COVID-19, chances are good that your case is experiencing delays. The restrictions imposed to help stop the spread of this virus have caused the closure of a number of businesses, government agencies and many courts to all but emergency cases. Not only may these restrictions be causing a delay in the final judgement on your divorce, but they are impacting a number of related issues including financial settlements, spousal and child support requests and child custody matters.

The impact COVID-19 is having on divorces and related issues is discussed in more detail in the Forbes article, “6 Ways The Coronavirus Can Infect Your Divorce – And Simple Steps To Protect Yourself.”

Reitrement-Gray-Divorce-400-04834468d-300x200“Gray divorces” are becoming more prevalent these days. That’s when couples in the 50+ age group call an end to their often long-term marriages. While divorce at any age can be difficult, these later-in-life breakups present their own unique challenges. For one thing, many of these couples are facing an end to their careers, which translates into a potentially lower income and less time to rebuild after a financial setback.

Divorce at this stage of life also puts the retirement picture in a whole new light. The financial resources that a couple has accumulated over many years of marriage now has to support two households instead of one. But divorce, even at this late stage, doesn’t necessarily mean an end to your retirement plans. There are steps you can take to salvage your relaxation plans when you finally decide to leave the workforce. For ideas on how to still enjoy retirement after divorce, read “5 Ways to Stop Divorce from Wrecking Your Retirement.”

marital-house-400-04680478d-300x199The distribution of assets is one of the biggest hurdles, after matters pertaining to children, that a divorcing couple faces. While it may be easy to assign ownership to certain assets, big-ticket items like the family home are a different story. Some couples just want a clean break. They sell the house, split the proceeds and move on. For others, it is not that simple.

There are a number of reasons someone would want to keep the house following divorce, the main one having to do with not uprooting the children. Another reason is not wanting the added challenge of adjusting to a new home, with or without children. Whatever your reason, once you decide you want the house, the next step is to figure out how to make this happen — buy out your ex, take out a loan, swap another asset for the ex’s share of the house. For a guideline on what to consider before fighting for the house, read “Follow These Steps To Keep The House After Divorce” and make sure you can afford it.

co-parenting-challenges-400-08017030d-300x200One of the difficult end-products of divorce is learning to navigate the unique challenges of co-parenting. Coordinating schedules and synchronizing parenting styles with your ex while dealing with your own mixed emotions and lifestyle adjustments is hard but necessary for the sake of the children.

The good news is you’re not alone; many parents before you have gone through the same situations and faced the same challenges – and you can learn from them. “8 Tips for Better Co-Parenting After Divorce” offers real-life advice from two moms who have been there.

children-holidays-400-07103763d-300x255Celebrating the holidays after divorce can be an extremely stressful situation. During this season, we put a lot of emotional value on family traditions, which are often passed down from generation to generation. These traditions are what make our holiday celebrations uniquely special, but they are also what makes facing the holidays after divorce so difficult for adults and children.

Divorced couples who plan to co-parent their children need to create new traditions to accommodate their new family structure. To do this effectively requires compromise and open-mindedness. For tips on how to avoid conflict and miscommunication and keep the holiday excitement alive for your children, read “Coordinating Child Custody During Holidays.”

divorce-small-business-400-04065501d-300x194Couples rarely enter a marriage thinking that their union will one day end in divorce. Yet, it happens, and when it does the financial consequences can be catastrophic, especially for the small business owner. In this case, divorce not only impacts your immediate family, but also your business partners and employees.

A business can become part of the property battle between divorcing couples. Sole proprietors or those who are in business with their spouse potentially can lose everything. The divorce of a business owner in partnership with non-family members, on the other hand, can be financially damaging to those partners. And then there’s the drain on the company finances, not to mention the emotional toll on the divorcing owner – these can trickle down to affect everyone who works with the company. To learn more about the toll divorce can have on a small business and the strategies that might help lessen that toll, read “In owners’ divorces, businesses can become part of the fight.”

Cohabitation-Agreements-400-06854350d-300x200By now, most people understand that a prenuptial agreement, or prenup, is not something that applies only to the rich and famous. In fact, a prenup can save a lot of time, pain and emotional turmoil for any married couple should their marriage end in divorce. But what is a cohabitation agreement and are the two interchangeable?

Cohabitation agreements are contracts between two individuals who are in a romantic relationship and share the same household. These agreements address a variety of financial, personal and family issues and how they should be dealt with in the event the relationship ends. Although they sound very much like a prenup, there are some basic differences between the two. For one thing, a majority of states have laws that pertain specifically to prenuptial agreements; cohabitation agreements, on the other hand, are governed by general contract law.

To learn more about cohabitation agreements and whether you should consider one, read Money Crashers’ “What Is a Cohabitation Agreement – Why You Need One Before Living Together.”

Contact Information