Most people in New York think that only two people can affect the outcome of their marriage -- themselves and their spouse. However, a recent study showed that other people can influence whether a couple ends up filing for divorce. It might come as a surprise to some people that the study is not talking about in-laws.
Dealing with money issues -- like having too much debt or not enough income -- can be stressful at any point in life. However, younger couples in New York seem to be hit particularly hard by financial stress. A recent survey found that when it comes to divorce, approximately one out of every eight can be traced back to student loans.
There is no denying that society is changing, and as it does so do standards and norms. Historically, men have been expected to earn enough on a single income to support an entire family. Things are a little different now, with many married couples both working outside the home and sharing household duties. While this is now largely accepted in New York, wives who out earn their husbands could be more likely to divorce.
Ending an unhappy marriage is quite often the right decision for New York couples who are unable to rectify serious issues. However, while most people understand that there are potential financial consequences of divorce, one group of people seems to be hit hardest of all. A recent survey revealed that many divorced women were surprised by the financial toll of leaving their ex.
Whether you were hung up over alimony, who gets the house or how to split parenting time, finally reaching an agreeable settlement can feel like crossing the line of a marathon. But what happens when one person stops abiding by that agreement, and you feel like all that hard work has gone to waste? You can seek a court order to enforce your divorce agreement.
Child support is common among divorced parents. Even when New York parents share roughly equal custody, one person -- typically the higher earner -- usually pays child support. The amount of support owed is based off the payer's income, which is usually reviewed and set at the time of divorce. However, if one parent suspects that the other is concealing income to minimize payments, he or she can petition the court for a modification. However, it is sometimes criminal proceedings that reveal a discrepancy in payments.
Dividing property is not always easy, but most New York couples reach an agreeable settlement in a reasonable amount of time. However, there is one type of property that can cause proceedings to quickly spiral out of control -- the family pet. In divorce, animals are not viewed as valuable family members regardless of how their owners see them. Instead, family law says that Fido is property.
Who a person is at the end of the marriage is very different than who they will be a few years down the road. Some experience emotional maturity in the years following a divorce, while others go through changes in housing, finances or family. In some instances, these changes are significant enough to affect a divorce settlement. It is possible for people in New York to modify their settlements to better reflect their current standings in life.
Ending a marriage brings about many changes. In particular, individuals' financial situations can easily face impacts that have them worrying about moving forward with their lives on a single income. Fortunately, New York residents can take steps to help them manage their money wisely during the divorce process.
Ending a marriage can be a tricky time for anyone. There are many aspects to consider, and even after the divorce settlement has been reached, individuals could easily find themselves having to deal with difficulties resulting from those terms. In particular, some property division decisions could have negative repercussions if not properly handled, especially when it comes to taxes.