Happy smiling Ohio couples walk down the aisle to marry, say their vows and walk back along the same aisle expecting to begin a long and happy life together. In many instances this happens, but in many others it does not. Many marriages still end in divorce, and as another tax season has begun with new tax laws that affect the finances of a divorce, it may be beneficial to review the implications of the law on current tax filings.
Since the moment you decided that your marriage was no longer viable, you've likely had a million thoughts running through your mind, especially regarding your children. Divorce can be one of the most stressful, challenging situations an Ohio family can experience. By accessing available resources, though, many spouses are able to achieve fair settlements, as well as provide their children with ample support to help them cope with change and adapt to a new lifestyle.
The new year has arrived, and many changes from the tax law passed last year will have an impact on divorces occurring in 2019. Divorce is not an easy process in Ohio. It can be very emotional and stressful to family relationships, and involve copious paperwork. The division of property and other assets can also be difficult. The changes brought on by the tax law could add to the stress.
Deciding to end a marriage in Ohio is seldom a decision that is made lightly. While there are many concerns that go into arriving at the decision, financial concerns may be chief among them. While it can be difficult, a divorce doesn't have to spell doom for one's financial future. How assets are distributed can help to determine one's stability moving forward. Chief among these is how 401(k) accounts are divided.
Not every marriage in Ohio and across the country endure over the long term. Some statistics suggest that an many as 50 percent of marriages end in divorce. This leads to another more disturbing statistic, that over one million children a year become children of divorce. It is now widely believed that staying together for the sake of the children is not a good idea, but how divorced parents handle parenting post-divorce can be critical to how well children deal with the new family dynamic.
Dividing your property can be one of the most difficult aspects of a divorce. Not only can it be upsetting to divide your property with your soon-to-be ex, it can also be very complicated to understand how to do it.