Posts tagged "Divorce"

How to plan for the holidays after separation or divorce

Holidays can be a tough time for families in Georgia who are experiencing separation or divorce. Such emotions as sadness, anger and fear can feel overwhelming for parents and their children. However, parents must make an effort to control those emotions and ensure that their children still enjoy the holidays.

Cohabitation can cause some marriages to crumble

Couples in Georgia may feel the impact of the premarital cohabitation effect if they live together before marriage. While scientists had doubted that this effect still existed, research says that it still applies over long periods of time. However, researchers did acknowledge that there is a greater risk of divorce in the short-term for those who didn't live together prior to getting married. This is because they may have a greater adjustment to make as it relates to sharing a living space.

Cohabitation may make divorce more likely

According to the results of a study published in the Journal of Marriage and Family, couples who move in together prior to marrying are at a higher risk of divorce later. Georgia couples might want to be aware of the premarital cohabitation effect, which suggests that couples who live together before marriage have lower odds of divorce during the first year but increased odds of divorce every year after that.

Tax law changes could make divorce more costly

When anyone ends a marriage in Georgia, there are both figurative and literal costs involved. One especially noticeable change with the actual expenses related to untying the knot is with alimony and child support. This is because of a provision in the Tax Cuts and Jobs Act (TCJA) that will apply starting in 2019. In addition to lowering federal tax rates, the law also eliminates exemptions and many deductions, including those that previously applied to alimony and child support providers and recipients.

'Gray divorce' and retirement

Divorces for spouses who are at least 50 years old can be particularly devastating from a financial standpoint. Unfortunately, statistics show that more and more Georgia couples are dealing with "gray divorce." The Pew Research Center reports that the rate of divorce for adults who are age 50 or older is two times what it was in the 1990s. While shorter marriages and second marriages carry the most risk, the majority of gray divorces tend to take place among couples who have been married for at least 30 years.

The rise in divorce among older adults

Georgia couples who are 50 years old and above may be at a higher risk of divorce than their parents or grandparents were at the same age. People age 65 and older are getting divorced at a rate that is three times higher than it was in 1990. For individuals 50 and older, the rate is twice as high as it was in that year.

Choosing a date to get married

Georgia couples who choose to get married may lean toward a "cutesy" or clever date for the ceremony. However, this might not necessarily be a good idea. In fact, a recent study says that cutesy dates can be quite disastrous when it comes to marriage.

How tax reform will affect future divorces

Georgia couples planning a divorce have many issues to consider. They may need to determine who will get custody of the children, how the assets will be divided and whether alimony will be paid. For most couples, speaking with an attorney or even a judge is a necessary part of divorce. Because emotions can be flying high during this time, it may not always be possible for couples to come to a reasonable agreement on how assets will be divided.

How to manage money after a divorce

Losing retirement assets can be the hardest part of a divorce for Georgia residents and others. While they can be divided in a variety of different ways, it can leave a person less financially secure than he or she was before the divorce. Overall, those who have gone through this process have a net worth that is 30 percent less than those who have never ended a marriage.