If you're considering getting divorced, then you've likely done some digging around to find out what happens to your assets when you split up. You may not have stopped to think about what happens with your debts though. Your Kissimmee judges split them up among the two of you judt like any other assets you two share. Student loans are included in this.
Data published by the American Psychological Association shows that as many as 50% of married couples end up getting divorced. This motivates many financial planners to tell their female clients to get their money matters in order as soon as their spouses threaten to divorce them.
Any assets that are either shared or acquired during a marriage are considered to be marital property. The way that they are divided up during a divorce depends on where the couple lives. In Florida, all marital property is divided up via a procedure called "equitable distribution". This means that a judge takes into account each spouse's assets and needs when dividing up the shared property, rather than merely dividing it all equally.
Studies published in recent years have shown that Americans are getting married later in life than they used to. Some may wonder if they're doing this to protect themselves from being stripped of their valuable assets such as a business if they get divorced.
Many issues can cause conflict when a couple is headed for divorce. Child custody and support, alimony and the division of property are some of those issues. If you've lived in your home for some time, the decision about what will happen to the house and who will keep living in it can be hotly contested.
Just a few weeks ago, news of Amazon founder Jeff Bezos' adultery made national news. Soon thereafter, it came out that his wife was seeking a divorce. Although they reside out west, their split caused many individuals here in Florida to ask what impact does adultery have on requesting and settling a divorce. The truth is that it has very little impact on either.
Of all the months out of the year, January is often the one in which Americans decide to file for divorce in more significant numbers than the rest. They're often motivated to keep up appearances and make it look like their marriage is happy and healthy as a way of not ruining others' holidays in November and December. As divorce rates have doubled among seniors ages 50 and over in recent years, this is something that they do as well.
The older your kids get, the more likely it is that you're becoming more nervous about how you're going to pay for their college, especially if you haven't been saving along the way. Parents who are facing a divorce are likely to face even more uncertainty about how to get their kids through school.
Divorce is always an emotionally complicated situation, and it is usually complicated in terms of finances and property. Florida law allows several types of divorce, but all can be taxing on resources. That can be especially problematic for people later in life who may be looking toward a fixed income in retirement.
The divorce trend is on a downturn in the United States. This is due in large part to millennials choosing to delay getting married. Even still, there are thousands of couples that decide to throw in their towel and get divorced every year. While many people talk about how difficult it is to cope with the demise of their marriage, even less of them speak about how divorce impacts their finances.