Another year is about to begin, and the new year may mean a divorce for many couples in New Jersey. More people typically file for divorce in January than in any other month. Another issue that typically comes to the fore in January concerns taxes and personal finances in general. When divorce and taxes are combined, frequent questions involve who is entitled to what assets and how taxes will be implicated?
Financial pitfalls of the gray divorce phenomenon
The rate of people getting divorced, in general, is on the decline in New Jersey and around the country. However, the rate for those over 50 has increased significantly in recent years, resulting in the coining of the term "gray divorce." In addition, studies show that a person who has been divorced once is more likely to do it again than a person who never ended a marriage. An extreme example of this is that of well-known TV personality Larry King, age 83, who is ending his eighth marriage.
A parenting plan that will work for your family long-term
When you make the decision to move forward with your divorce, you understand this choice will bring significant changes for your children. You want to make sure to minimize the negative impact they experienced and provide as much continuity of lifestyle that is reasonably possible, so you and the other parent have decided to craft your own parenting plan. This is a beneficial solution that could work well for your New Jersey family.
