August is one of the peak months for Arizona residents and others to get divorced. This was one of the main takeaways from a study conducted by researchers from the University of Washington. March, September and January are also months when divorce rates tend to increase. Those who think that their marriages are on shaky ground may want to start preparing for a divorce as soon as possible.
Divorce can present a number of challenges to retirement plans for people in Arizona. If each person has been saving for retirement and has a roughly equal amount of savings, they might each decide to keep their own retirement account. This can be a simple way of dealing with property division.
It isn't uncommon for married individuals in Arizona and throughout the country to have student loan debt. When that debt is acquired could play a role in how it is managed in a divorce. Generally speaking, debts accumulated before a marriage remain the responsibility of the person who accumulated them. Debts that were accumulated after a marriage begins could be considered marital property. This means that both parties to the relationship could be liable for repaying them.
As stressful as a divorce is, it can become even more stressful for a person in Arizona after a job loss. If the person is the higher-earning spouse, there could be concerns about how to pay support.
Arizona business owners may have unique concerns when they begin to suffer marital difficulties. Of course, the financial consequences of a divorce can persist long after the emotional and practical issues have been resolved. For the owners of small, closely held companies, the effects can be felt more severely than usual. In many of these cases, the business itself may be the largest marital asset and a major source of the couple's income. Therefore, they may worry that the future of the business is at stake, especially when the couple cannot continue to work as partners after the divorce.
When women in Arizona decide to divorce, they may need to take special care to protect their finances. While the overall role of women in household finances has changed significantly over the years, many wives still know less than their husbands about the state of household finances, the scope of family assets or the investments that they hold. When 40 to 50% of marriages end in divorce, it is particularly important that women remain aware of their collective finances in order to protect themselves financially in the event of a divorce.
Financial issues are a common cause of divorce. According to one survey, student loan debt can be a major contributing factor. About one-third of student loan debtors who participated in the survey said their divorce was caused by money problems, and more than 10% of those specifically blamed student loan debt. Some people in Arizona may be among those whose student loan debt is in excess of $50,000. The number of people who have passed this threshold is three times higher than it was 10 years ago.
Spousal support is a common point of contention for many Arizona couples ending their marriages. However, this issue can only be seriously discussed once marital assets have been divided. It's this step that allows a fair determination of what type of financial assistance, if any, a lesser-earning spouse may need from their soon-to-be ex. Several factors are taken into consideration to figure out support-related issues.
Divorce is sometimes a time-consuming process, and divorce issues can bleed into other areas of one's life. To avoid this, Arizona residents might like to know about some tips for keeping divorce matters out of the office.
Couples in Arizona know that contempt in a marriage can lead to divorce. Other common traits that lead to marriages falling apart include stonewalling, criticism and sarcasm. There are many factors that can lead to a person developing these traits, including silent relationship killers that some marriage mates are not even aware of.