Divorce rates in general have not continued to rise, except with one demographic. A Bowling Green State University study revealed that the divorce rate for senior couples doubled between 1990 and 2010. So-called "gray divorce" is no longer an anomaly.
Approaching high asset divorce properly
With any divorce, taking the proper approach is critical. However, this may be even more important if you have a high net worth. Divorce can be tricky from many standpoints, which we have gone over on this blog, such as legal issues involving children. That said, the potential financial impact of divorce requires a closer look, particularly if you will be going through a high asset divorce. At Butler, Giraudo & Meister, we can understand that some people may feel unsure of where to begin with any divorce, let alone those involving significant assets. By methodically looking over your choices and planning your path forward, an outcome that is more favorable, both in terms of your assets and other factors, may be more attainable.
Back spousal support and tax refund interception
On this blog, we have gone over various spousal support issues, such as being unable to make your payments due to the recent loss of your job, as well as other family law issues which can have a financial impact, such as the interception of your tax refund due to back child support. However, you may want to bear in mind that failing to pay spousal support could also result in financial ramifications. For example, if you fall behind on spousal support, it is possible that you could have your tax refund intercepted as well.
Bankruptcy and the end of marriage
When a couple calls off their marriage, there are a multitude of legal hurdles that could arise, such as disagreements related to the distribution of marital property or a child custody arrangement. That said, the financial impact of divorce can be significant and many people are unsure of their rights or how the divorce could affect them from a financial standpoint. For example, some people may consider filing for bankruptcy right before a divorce, while others may wonder how their spouse's bankruptcy case could affect the divorce.
Are alimony payments deductible?
Divorce can bring up many questions and a host of stressors, whether couples are unsure about how custody will be awarded or have uncertainty about the manner in which marital property will be split between each party. That said, spousal support is an issue that can be particularly stressful for certain people when their marriage comes to an end. Aside from issues related to actually making spousal support payments, you could be wondering how alimony might affect you in other ways. For example, you might want to know if alimony payments can be deducted when working on your taxes or if you are required to count payments you have received as income.
Protecting yourself against false domestic violence accusations
When it comes to child custody, visitation, and other facets of fathers' rights, there are many issues to consider. For some, untrue domestic violence allegations are extremely problematic and can interfere with their ability to see their children. Moreover, these charges can affect a father's life in many other ways, from creating career-related problems (the loss of a job, difficulty landing a new position) to financial issues and a shattered reputation. If you have been falsely accused of domestic violence and are worried about your future, our firm knows how pivotal it is to take steps to protect yourself.
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