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Posts tagged "Divorce"

Study links heavy student loan debt to divorce

Married couples in Oklahoma and around the country often choose to divorce after running into problems with money. The results of a survey of divorced spouses conducted by the financial information and advice website Student Loan Hero suggest that educational debt is especially toxic to marital bliss. One in three of the divorced spouses polled said that arguments over money had prompted them to end their marriages, and one in eight of them said that student loans were the cause of these arguments.

Income inequality could signal a divorce

In American society, husbands are still expected to provide for their families financially. Therefore, when a wife makes more than her husband, it could jeopardize the success of a marriage. This may be true for married couples in Oklahoma and throughout the United States. Of course, there are exceptions to the rule such as when husbands work as freelancers and their wives have jobs that provide the family with health insurance.

Business owners may benefit from planning for divorce

For business owners in Oklahoma, divorce can bring up some unique considerations. While few people want to think about divorce when they decide to marry, planning for all eventualities can be especially important for entrepreneurs. Indeed, some investors and venture capitalists may insist on a divorce planning framework to safeguard their investments in case a founder's marriage comes to an end.

Planning for divorce amid changing tax laws

People in Oklahoma who decide to end their marriages may seriously consider how changes to the tax laws will affect their divorce. In late 2017, Congress passed the Tax Cuts and Jobs Act, best known for its changes to income and corporate taxes. One provision affecting divorcing couples will go into effect with the new year. Many couples escalated their divorce timeline in order to finalize a settlement before the end of the year. While the new rules will apply to all divorces finalized on or after Jan. 1, 2019, they will not affect people who completed their separation in 2019 or earlier.

Reducing divorce risk with proactive debt management

It's no secret that money can be the source of contention and anxiety among married couples in Oklahoma. In fact, a new survey by a financial firm reveals that more than half of all couples go into a relationship with existing debt. Furthermore, 40 percent of the individuals questioned believe financial stress has negatively impacted their relationships. Money woes can also contribute to marital fights, disagreements over who is responsible for debt problems, poor communication and difficulty addressing money matters in general.

Navigating the holidays as divorced parents

Oklahoma residents who are going through or have gone through a divorce should consider how to parent during the holidays. Holidays come with extra struggles for separated or divorced families who have to juggle custody of their children. Since this can produce dilemmas wrought with feelings for both parents and children, it may help to approach the holidays with a plan already in place.

Scope and limitations of prenuptial agreements

Prenuptial agreements entered the public consciousness in Oklahoma as a legal tool for the wealthy, but they have benefits to offer people of any socioeconomic status. Prenuptial agreements allow people to outline the terms of property division in the event of a divorce, but they can specify other obligations. Their reach is not unlimited, however, and these agreements are not immune to legal challenges.

People are divorcing more later in life

Divorce rates are on the decline, generally, in Oklahoma and across the country, but people over the age of 50 are getting divorced twice as often as they were in 1990. The trend has been referred to as gray divorce; people are more often divorcing later in life. For people aged 65 or older, the rate of divorce has tripled since 1990.

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