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Divorce Archives

Retirement funds critical part of property division

Retirement accounts are often the largest assets held by couples and families in Arizona. Therefore, when a divorce occurs, the distribution of these accounts is of primary concern to both partners. These funds are often critical to the financial health and future of both parties and the subject of some of the most contentious issues in a divorce. In fact, 62 percent of divorce lawyers ranked retirement accounts as one of the most difficult issues to deal with.

Protecting finances from divorce

Having certain financial safeguards in place in case of a divorce is something that should be considered by every Arizona couple who thinks they may get married. Legal devices such as prenuptial agreements may seem pessimistic, but they are actually common sense tools to protect oneself from the possible financial consequences of getting a divorce.

Why older divorcing couples should avoid financial mistakes

The divorce rate for people over the age of 50 is twice what it was 25 years ago, according to the Pew Research Center. Furthermore, divorce rates for older adults in Arizona and the rest of the nation are continuing to rise as more couples choose to go their separate ways near retirement age.

The positive power of a prenuptial agreement

Couples in Arizona may derive a lot of benefits from creating a prenuptial agreement together. For instance, it may be possible to address any potential power imbalances that may exist because one partner makes more money than the other. The development of an agreement before getting married may prevent an unspoken power structure from potentially derailing the relationship. For instance, the person who makes the most money may mistakenly believe that he or she is better than his or her partner.

Why divorce court isn't a good place for revenge

For many people in Arizona who want to end their marriages, portrayals of divorce in television and movies can make the process seem even more intimidating. Many dramatic divorce stories focus on tales of revenge or righteous anger after infidelity, financial betrayal or other serious breaches of marital trust. However, for real-life couples going through divorce, the picture can be much less dramatic.

How divorce may differ for people in their 20s

Arizona 20-somethings who get a divorce might feel isolated among their peers. Divorce among younger couples is on the decline, and one reason is because people are getting married later in life. The median age at marriage rose in 2016 to 27.4 for women and 29.5 for men. People in their 20s who get a divorce might struggle to find peers in the same situation or even friends who have married in the first place.

Tax law changes could spark increased divorces in 2018

For people in Arizona who were already thinking about divorce, changes in the tax laws may be pushing many people into action. Changes to the U.S. tax code were signed into effect in December 2017, and this includes some clauses that could make spousal support more expensive for the paying spouse. Approximately 800,000 couples across the United States finalize their divorces each year; however, in 2018, that number may show an uptick as divorcing spouses act fast in order to pre-empt the changes.

Dealing with finances during and after a divorce

For many Arizona couples who are considering divorce, it is often understood that the relationship between the two spouses will change. What they may not realize, however, is just how much their lifestyles may also change due to having to split up finances and assets. For example, some people can lose half or more of the finances and assets that they worked so hard to obtain during the marriage. However, there are ways individuals can improve their post-divorce finances.

During the divorce process, remember to be reasonable

People who are going through a divorce will have a lot of questions about the actual legal process of ending their marriage. The steps that must be taken will be, of course, complicated. But they aren't insurmountable, and with the right frame of mind, you can proceed with your divorce in the best way possible.

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