planning to file divorce in the new year? why you need a lawyer

When you’re married, you can file taxes jointly, but a divorce takes away this option. Sometimes, for very practical financial reasons, a couple may decide to wait until the new year to file for divorce in order to help the transition between this shift or to avoid financial problems.

Full Answer

Should I file for divorce before the end of the year?

Many marriages come to an end in the New Year. If you are planning on filing come the New Year, you aren’t alone. It gives you a chance to make a fresh start after the holiday season. It’s important to know what to expect and why you need a lawyer. You should always be aware of what you owe within the marriage.

Why do I need a lawyer to get a divorce?

Dec 14, 2016 · Divorce planning can also help each party prepare for the future, whether that means ensuring that they have paid off some of the debt to prevent divorce-induced financial troubles, talking to a financial advisor about potential tax consequences, or obtaining suitable housing ahead of time to smooth the transition for children.

Do I need a divorce attorney on January 1?

Dec 18, 2019 · Credit card debt is a joint marital debt. So, no matter whose credit card it is, you most likely will owe 50% of the amount of credit card debt that existed as of the date of filing for a divorce. Once, you file for divorce, you most likely will not be responsible for any additional credit card debt that is incurred after the date of filing.

Should I tell my kids we’re getting divorced this Christmas?

Dec 17, 2021 · Due to the complexities involved, there are some practical reasons why the new year is a popular time to file for divorce. Mr. David Badanes Esq. of Badanes Law Office on Long Island shared his insight as to why divorce rates rise in the new year. The Holidays. The months of November and December are filled with holidays and family time.

Is it better to divorce at the end of the year?

For some couples, divorcing this year makes better financial sense than waiting another year. This is particularly true of couples with higher incomes, especially in light of next year's arrival of premiums associated with the Patient Protection and Affordable Care Act (PPACA, sometimes known as “Obamacare”).

What is the first thing to do when getting a divorce?

Top 10 Things to Do Before You File For a DivorceNever Threaten to Divorce Until You Are Ready To File. ... Organize Your Documents. ... Focus on Your Children. ... Make Sure You Have Three Months of Financial Resources. ... Obtain the Best Legal Advice You Can Get. ... Make Sure You Have Available Credit.More items...•Jan 4, 2022

What is a wife entitled to in a divorce settlement?

Assets that you have built up or acquired during the period of marriage are known as matrimonial assets or marital assets. These typically include property, pensions, savings, personal belongings, and cash in the bank. These assets will always be added to the overall 'pot' and will need to be split fairly.

How should a woman prepare for divorce?

9 Critical Steps Women Should Take To Prepare For DivorceGather your financial records. ... Open a Post Office Box. ... Start putting money away for legal and other professional fees. ... Open a new checking and savings account. ... Open new credit cards in your name only. ... Get a copy of your credit report.

When do you need a lawyer?

When can a lawyer be needed? In most cases, a lawyer is involved when the couple has children so that a mutual agreement could be made between both the partners. Moreover, when there are shared marital assets to be divided, then a legal process is mandatory to make sure that each partner gets an equal and fair share.

What is the marriage.com course?

If you feel disconnected or frustrated about the state of your marriage but want to avoid separation and/or divorce, the marriage.com course meant for married couples is an excellent resource to help you overcome the most challenging aspects of being married.

Is it good to prepare your family for divorce?

As a general rule, preparing your entire family for a divorce is appropriate and can be very beneficial. Children benefit from a joint statement from parents regarding the divorce. The deleterious effects that can often result from a divorce are not limited to you and your spouse and tend to be far-reaching – affecting children, extended families, and even friends.

Can a single household become two?

Your single household is about to become two. You, therefore, must know what you can and cannot afford on a monthly basis moving forward. As such, you should go ahead and compile a budget of reasonable and necessary expenses . The very first piece of homework our office gives to a client is a budget worksheet that breaks down each monthly expense.

When can I file my taxes if I am married?

Before filing, start collecting all of your household’s end-of-the-year statements. Become aware of your household budget, your assets, what’s in your checking account, your mortgage payment, and all of your debts and your credit card balances.

Can I postpone my divorce until the new year?

If you and your spouse do not have children or your children are grown and on their own, there may not be any significant reason to postpone your divorce until the New Year. In this case, if you’ve both decided to divorce, file the paperwork and finish the necessary work so you can start the New Year with a clean emotional slate.

Should I file for divorce before the end of the year?

Marital assets, such as cars, real estate or financial assets may have a higher or lower current value, and that could prove beneficial depending on who will be keeping that asset. Considering the current value of assets may be a strategic reason for filing for divorce before the end of the year rather than waiting until the New Year. This is an area you may wish to discuss with a divorce lawyer, financial advisor, or tax expert before making a final determination.

How to help someone who is divorced?

Start talking to people who are divorced for real world examples, tips and suggestions on what’s to come. Assemble a group of family and friends, who can help you through this process, either by listening or lending a hand when need be. Consider a therapist, if you haven’t already seen one, who can help you with the emotional impact of a breakup. Religious organizations often offer support groups for singles, divorced and children whose parents are going through a divorce. Teachers and counselors at schools can often offer help to youngsters whose parents are divorcing, as well. And, of course, there’s always help on the Internet, which has a number of divorce-related resources.

What to do if you have not talked to your spouse about divorce?

If you have not talked with your spouse yet about a divorce, consider what you will say and how you will discuss this in a way that makes you feel safe. Be calm and discussion your decision in a way that does the least amount of emotional damage to you, your partner and your children, if you have them.Be prepared and have an overnight bag and a place to stay if the discussion becomes heated and you must leave the home immediately. If you are in an abusive situation, please seek professional help to advise you.

How to plan for separation?

DECIDE ON A PLACE TO LIVE, A BUDGET AND OTHER DETAILS FOR SEPARATING. Consider where you, your partner — and your children if you have them — will live. Make a plan that includes that information and a budget to make it happen.

How to prepare for divorce?

If you’re thinking about divorce, you need to immediately begin to set aside money for the all the expenses involved. Make copies of all your financial documents and legal records before your divorce proceedings begin.

What is a good attorney for divorce?

An experienced family law attorney is often a good idea for situations where the divorcing couple has a large amount of assets, property or other complicated financial matters. In more contentious divorces, an attorney can make sure that your interests are represented in court.

Can you use your kids to manipulate your spouse?

This should go without saying, but unfortunately, it still happens, even unintentionally. Check your own behavior and don’t use your kids to punish or manipulate your spouse. In the end, this will cause resentment and have a negative impact on the relationship you have with your children.

Is it normal to want to tell someone about divorce?

Emotions are running high, it’s perfectly normal to want to let others know what’s going on in your life. You may desperately want support, you may not want to suffer in silence, or you may just want to punish your partner and embarrass them. This doesn’t mean that you have to keep your a divorce secret from everyone, you just need to decide who you tell and why.