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Posts tagged "Divorce"

Divorce rates soar in January

Law offices have historically reported a sharp increase in divorce filings on the first Monday after the holiday season. The phenomenon, sometimes referred to as Divorce Day, might be due to a new sense of urgency among dissatisfied partners. The trend seems to exist in Nebraska and across the U.S., and it typically continues throughout the month of January.

How new tax laws will impact future divorces

Nebraska couples who are contemplating divorce may be interested in learning about changes to the tax law that go into effect with the new year. As of the start of 2019, alimony rules that have been in place for more than seven decades will change. Previously, alimony payments were tax-deductible for the individual who paid them. These same alimony payments were considered taxable income by the individual who received them. However, this situation will reverse for new divorcees starting in 2019.

Financial stress increases chances of divorce

Frequent fights about financial issues undermine a Nebraska couple's ability to communicate. Ultimately, failing communication could end a marriage. A university study confirmed this by identifying ongoing financial disputes as a red flag for divorce. Money woes upped the likelihood of divorce by 30 percent.

Staying financially stable after a divorce

Recently divorced Nebraska residents should make sure that they don't make irrational choices with their money. One reason is that there may not be enough money to buy a car or make other discretionary purchases on a single income. While it's possible to take money from a retirement or brokerage account, doing so can result in a significant tax bill.

Common prenuptial agreement misconceptions and myths

From selecting the cake to sending out invitations, there are many things couples in Nebraska have on their pre-wedding to-do list. Yet many soon-be-spouses fail to consider the possibility of including a prenuptial agreement as part of their pre-wedding plans. Part of the reason for this is because of some of the lingering misconceptions and myths associated with such agreements. For starters, it's commonly believed signing such a document means a marriage is doomed. However, 86 percent of mental health professionals surveyed by a relationship site said this isn't so.

Can profession influence the decision to divorce?

The impact a person's profession has on their life, Nebraska residents might be surprised to find, includes the possibility of divorce. According to researchers, a person's profession and field of work can have an influence on the likelihood of that person divorcing and beginning a new relationship.

Why and how to get a prenuptial agreement

Some Nebraska couples may resist the idea of a prenuptial agreement. People may be concerned it will upset their families, or they may not want to share private financial information about debt and bankruptcy. They might even think a prenup could increase the chances they will get a divorce. However, many experts believe that prenups can offer important protection in particular to people with blended families, in second marriages or in ownership of a business.

Divorce for older adults has financial, social implications

Nebraska adults who are 50 and older may be divorcing at higher rates than older people in previous generations. Since 1990, the divorce rate for people in that age bracket has doubled, and it is is three times higher than it was in 1990 for people 65 and older.

What high net worth couples need to know

Divorce and separation can be incredibly difficult for any couple; however, for high net worth couples, divorce brings with it a new set of challenges. Some of these problems can be preemptively avoided prior to marriage by signing a prenuptial agreement, which can offer assistance, guidance and protection should a divorce occur.