That information comes from the United States Census Bureau's "Number, Timing and Duration of Marriages and Divorces," which it publishes on a periodic basis. The report divides men and women into age groups, and then further divides them into categories such as "never married" and "ever married," the latter of which contains sub-categories such as "ever divorced" or "ever widowed."
]]> In recent years, the number of people falling into the "ever divorced" category has dropped significantly. In 1996, for example, 34.1 percent of men and 37 percent of women ages 40 to 49 fell into that grouping. In 2009, only 28.5 percent of men and 31 percent of women in that age group were in the "ever divorced" category.The divorced group only increased for people over the age of 50. This, experts say, is because that group is largely made up of baby boomers who reached adulthood in the 1970s, which is when many key societal changes began to take place that led to a divorce 'boom' in that decade. Primarily, women began working outside the home in much greater rates, and their resulting financial independence caused an increase in divorce.
But since women have continued to work in greater numbers in every decade since the 1970s, why has the divorce rate fallen in the subsequent decades? Researchers believe that is because men and women are waiting longer to marry, and taking more time to find a spouse that is a better fit for them.
Source: CNBC, "As Two-Income Family Model Matures, Divorce Rate Falls," David Milstead, May 7, 2012
]]>In fact, some couples decide to seek a legal separation instead of a divorce in an attempt to maintain insurance coverage. However, it is important to check your insurance policy's fine print before going this route: some insurance companies consider a legal separation to be the same as divorce, so it could end up having little to no benefit in the end.
]]> Most health insurance companies have very strict requirements for when and how a beneficiary must inform them of a divorce. If you do not comply with these requirements, you may find yourself facing charges or penalties for insurance fraud, even if that failure was unintentional.However, spouses will not become automatically uninsured at the moment their divorce becomes final. At that time, the non-employee spouse will qualify for COBRA, which will provide insurance coverage for up to 36 months.
It is generally recommended that spouses get off of COBRA and on to their own health insurance policy as soon as possible. If you were to fall ill or become injured while on COBRA, you could have trouble obtaining new insurance based on that pre-existing condition (although that could change with the new federal health care law).
In most cases, children can and should remain on their parent's insurance after divorce, although the couple will have to work out how to pay premiums, co-pays and other costs.
Source: The Huffington Post, "Divorce Questions: Can I Still Get Medical Insurance From My Ex After Divorce?" Jeffrey A. Landers, May 7, 2012
]]>The reason for the long delay, according to Kardashian's divorce lawyer, is Humphries' "hurt feelings" and his ongoing request for an annulment instead of a divorce. The reason Humphries is seeking to have his 72-day marriage annulled is because he believes it was the product of fraud.
]]> Kardashian, of course, has denied those allegations, and is pressing for a divorce. She and Humphries have already been separated for six months, making them eligible for a divorce to be granted.In a recent hearing, Humphries' family law attorneys asked for more time to gather evidence to decide whether they can and should pursue the claim of fraud. If they decide to do so, the case will likely result in a trial.
In order to compel Humphries to give up his request for an annulment, Kardashian has stated that, if the case goes to trial and she wins, she will request that Humphries pay her legal fees, which will likely be quite hefty. Currently, she has asked that both sides pay their own fees and costs.
It is not yet known whether and when the judge overseeing the case will grant Humphries' motion. The couple is scheduled to return to court in August for a routine status hearing. You can read more about their initial divorce filing in our earlier family law blog post.
Source: The Huffington Post, "Kim Kardashian Divorce: Reality Star Wants Divorce From Kris Humphries To Move Forward," Anthony McCartney, May 4, 2012
]]>There are many reasons why divorcing young is fairly common. First, young couples face several challenges due simply to their age. Money may be tight, school and new careers may add stress, and both spouses may simply be growing and changing personally.
]]> For people who divorce young, it can be extremely difficult to deal with the end of the marriage and everything that goes along with it. Not only must you deal with the shame and humiliation that is, unfortunately, inherent in a divorce, but you must also accept that your dreams for the future with your spouse - a home, children, growing old together - are never going to happen.So what is the best way to handle a divorce before 30? How can young couples move on and get a fresh start on life after marriage?
Simply, that seems to be the key: getting a fresh start. A divorce can be a catalyst for change and reinvention, allowing you to challenge yourself and meet new and lofty goals. Get back into activities you loved when you were single, reconnect with friends and family and meet new people. Look at your divorce as a positive step in your life, not a negative one, and you will probably find yourself better off in the end.
Source: Mother Nature Network, "Young and divorced: How to bounce back," April 24, 2012
]]>But for people who love and cherish their pets as if they were family, that isn't a sufficient method of determining the custody of their pet after a divorce or legal separation. As a result, it has become increasingly common for divorcing couples to hire a pet mediator to help them work through their pet issues and arrive at a resolution that is good for both spouses and their furry friends, too.
]]> During pet mediation sessions, the mediator will facilitate discussions between the couple over how to share custody of the pet and related issues such as medical treatment, training, boarding, feeding and treating the animal. Like any other mediation session, the couple will come up with their own solution to the problem, with the mediator's guidance.Pet mediators don't only handle divorce disputes, but can be helpful in any situation revolving around an animal. For example, someone who is fed up with her neighbor's barking dog could hire a mediator to resolve the issue.
Generally, pet mediators charge around $250 an hour, which is usually split by both parties to the dispute.
Source: Wall Street Journal, "A Dog's Bark Is Better Than Litigation's Bite," Veronica Dagher, April 30, 2012
]]>But that is no longer the case. Gone is the presumption that the mother is automatically better suited to raise the children. In its place is a growing body of research indicating that children fare better when they have the maximum amount of time with each parent. As a result, courts are encouraging parents to reach joint child custody agreements, or awarding a large amount of parenting time to the non-custodial parent. In fact, Georgia family law now includes a presumption toward awarding joint custody whenever possible.
]]> Like nearly all family law issues, child custody laws and procedures vary from state to state. In most jurisdictions, however, family court judges generally have the authority and ability to craft a custody order that is unique to the family and that will best ensure the child's health and well-being.As a result, child custody orders are becoming more creative. For example, in most jurisdictions parents need to agree to joint custody instead of a judge ordering it. So if parents cannot agree to this and the judge thinks it is the best solution for the child, he or she may grant sole custody to one parent but give a significant amount of parenting time to the other. In some situations, the non-custodial parent may actually spend more time with their child than the parent who technically has custody.
The point of this is that child custody orders are unique and can be crafted to match your specific family situation. But as with all family law issues, it is generally better to reach an agreement than to wait for the judge to hand down an order with which you may not agree.
Source: The Huffington Post, "How To Divorce: How Can I Get Full Custody Of The Kids?" Michele F. Lowrance, May 1, 2012
]]>So how could this speed dating format be applicable to the divorce process? In many ways, according to one Atlanta divorce financial analyst who is hosting the first-ever 'speed divorcing' event this month.
]]> During the event, people who are considering or who have filed for divorce will meet with family law professionals such as divorce lawyers, mediators, financial advisors, mortgage brokers, therapists and others, using the traditional speed dating format. This will help divorcing couples find the right people to make up their 'divorce team,' hopefully saving them the time, money and stress of hiring the wrong divorce professionals who end up costing them much more in the end."I'm trying to help people be smart from the start. I see too many people who don't understand what they're getting into," Decker says. "If you begin your divorce volatile and hire the wrong people you're likely to end that way as well."
What do you think? If you have gone through the divorce process, would you have liked to attend a speed divorcing event, or were you able to find a solid divorce team without it?
Source: CNBC, "Speed Divorcing: Like Speed Dating, Only..." Cindy Perman, April 24, 2012
]]>One such unfamiliar divorce term is "Qualified Domestic Relations Order," which is most commonly referred to by its acronym, QDRO. Formally, a QDRO is a judgment or order that formally approves a property settlement agreement that involves a retirement plan in some way.
]]> In short, a QDRO is an order that allows for money to be collected from a retirement from someone other than the holder of that account. Courts often order QDROs to allow former spouses or children to collect spousal or child support by taking money from retirement accounts, when the payor spouse or parent has no other way of paying. One positive aspect of the orders is that transfers from a retirement account under a QDRO will not incur an early-withdrawal penalty.A QDRO is required if the court order includes any funds covered by the Employee Retirement Income Security Act, or ERISA. The plan administrator must approve the order, but this is not usually an issue - in fact, many plan administrators provide QDRO forms that accountholders can fill out.
However, there are some requirements in order for a QDRO to be approved. It must include several identification details, including the name and known address of the accountholder and the person who will be withdrawing funds and the amount that will be paid from the plan to that person.
Source: Reuters, "What Is a QDRO? How Divorce Affects Retirement," Andrew Chow, April 19, 2012
]]>Vonn is currently making her living as a professional skier and has many high-profile sponsors that help fund her career and include: Red Bull, Under Armour, Procter and Gamble and Rolex. Her ex-husband was her coach until the divorce papers were filed.
According to Vonn's spokesman, Vonn has paid off her federal back taxes and is clear of the IRS debt. She also stated that Vonn is disappointed with the situation, but feels that she has done everything she needs to do to remedy the situation.
While this back tax situation has been resolved, the impending divorce could bring up more issues with the couple. It has been reported that the two did not sign a prenuptial agreement and there could be a lot at stake for Vonn.
If you are going through a divorce and have questions about your tax situation, you should seek the advice of an experienced Georgia family law attorney or tax professional.
Source: USA Today, "Spokesman: Vonn pays off IRS tax debt," April 15, 2012
]]>But according to family law attorney Miles Mason, these fraudulent and harmful actions rarely go reported out of embarrassment and shame. "Spouses married to persons lying, cheating and stealing in the divorce become demoralized," he said. "Victims blame themselves and want to settle for less than a reasonable settlement."
]]> Regardless of these powerful emotions, it is in your best interest to report any suspicions of fraud. The divorce decree will likely dictate the next several years of your financial well-being, and it is important to get a fair settlement.There are a few common 'red flags' that may indicate that your spouse is hiding assets. For example, watch for situations in which he or she insists on maintaining complete control of account information and passwords, is secretive about finances, or deletes information or programs pertaining to money from the computer. In addition, if your spouse acts pushy about getting your signature on tax returns or other financial documents or proposes undergoing any new financial processes, he or she may be hiding assets.
You should also watch for simple financial irresponsibility, such as if your spouse reports a decrease in income while simultaneously going on a spending 'binge,' buying flashy items such as vehicles, jewelry or art.
If you suspect that your spouse is hiding assets, you should inform your Georgia family law attorney as soon as possible to discuss your possible next steps.
Source: Forbes, "21 Signs That Your Husband May Be Hiding Marital Assets During Your Divorce," Jeff Landers, Mar. 20, 2012
]]>Therefore, it is important that parents make every effort to steer clear of any behavior that a Georgia family court judge. Below is a list of a few common mistakes that can easily sabotage a child custody case.
]]>In sum: stay civil and responsible, and avoid losing custody of your children over a technicality.
Source: The Huffington Post, "Ways To Sabotage Child Custody," Joseph E. Cordell, April 2, 2012
]]>So what happens if a couple that has significant debt decides to divorce? Here are a few tips from a certified financial planner on how divorcing couples should handle debt.
]]> First, you should make every effort to pay off all joint debts prior to divorce, and then close their joint accounts. This is especially true for credit cards. If this is not possible, the debt will be divided between the spouses in the divorce decree.If that happens, both spouses should attempt to transfer the debt into an account under their name only. This will protect each person's credit rating should the other fail to make the required payments. In addition, credit card companies will often seek payment from both spouses if one fails to pay the bill, so taking your name off of the debt will protect you from having to make payments on that debt.
If you don't trust your spouse to make payments, check your credit report frequently. And as soon as a debt is paid off, close that account.
Finally, if you feel that bankruptcy is the better option for both of you, you should file as a couple before you file for divorce. This will allow both of you to start your post-divorce life debt-free.
Source: KDVR, "How to protect your credit in divorce," Nancy Melear, April 4, 2012
]]>What made the baptism so egregious in the eyes of the mother's ex-husband and the governing family court was the fact that it was a major violation of the child custody order. After the parents had intensely disagreed about when to baptize their children, the court had ordered them to participate in mediation if they every found themselves at an impasse regarding religious decisions.
]]> But instead of complying with that order and seeking mediation when she wanted her children, ages 5 and 7, to be baptized, the mother reportedly went ahead with the ceremony, knowing it would violate both the court order and her ex-husband's wishes. As a result, she is facing criminal contempt charges, with a possible sentence of 20 days in jail and a $100 fine.In her defense, the mother argues that the court has no constitutional right to dictate how she handles the religious upbringing of her children, and that the order was forcing her to comply with her ex-husband's religious preferences. An appellate court disagreed, stating that the issue was not about religion but about the violation of the court order, and remanding the case to a lower criminal court for a trial on that issue.
What do you think? Does the court order violate the mother's constitutional rights?
Source: New York Daily News, "Tennessee mom faces jail for baptizing her two children without husband's consent," April 1, 2012
]]>Many people think that the legal portion of a divorce is more challenging, and for some it is. But it is the logistical aspect that can easily drag on for months or even years, as couples go through the time-consuming process of separating their households and finances, changing their names and starting over as single people.
]]> One important but often-overlooked step in the logistical process of getting divorced is splitting up the family car insurance policy. Although state law varies, the general rule is that a policyholder must inform their insurer of the split within 30 days after the divorce is finalized.That notification will likely trigger some changes to the policy. For example, you may lose the standard discount to married couples, as well as the multi-vehicle and multi-policy discounts.
In addition, if one or both spouses move after the split, you must notify your insurer to determine whether your new 'garaging location' will result in any increases or decreases to your policy costs.
If you fail to notify your insurer of a divorce or residence chance, it could mean additional liability down the road if you are involved in an accident and your insurer denies your claims. Therefore, it is probably a good idea to add "call car insurance company" to the lengthy post-divorce to-do list.
Source: Fox Business, "Divorcing? Break the news to your car insurer, too," Penny Gusner, April 3, 2012
]]>At first glance, the rule seems relatively simple: whichever parent has custody of the child or children for the majority of the year is considered to be the custodial parent for IRS purposes. As the custodial parent, that person is eligible for the dependent exemption deduction for the child or children.
]]> Therefore, the other parent, called the noncustodial parent, is not eligible to claim the child as a deduction. But in many divorce and child custody cases, the dependent exemption deduction becomes a highly coveted item. That is understandable - the 2011 deduction was $3,700, and will increase to $3,800 in 2012.So, in many cases, the deduction will become somewhat of a bargaining tool, or will be something used strategically to put the family as a whole in a better financial place. But in order for the noncustodial parent to claim the deduction, he or she must meet a few requirements.
First, the parents must be legally separated or divorced by the end of the year, or musts have lived apart during the last six months of the year. Second, the child must be in the custody of one or both of the parents for at least half of the year, and over half of the child's support must be provided by one or both of the parents. And third, the custodial parent must sign a written declaration releasing the deduction to the noncustodial parent.
Source: SmartMoney.com, "Child-Related Tax Breaks After Divorce," Bill Bischoff, Mar. 28, 2012
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