If you are getting ready to file for a divorce, or you are already in the middle of one, you could have a number of concerns. For example, you might be worried about what will happen with regard to child custody or you could be stressed out about adjusting to single life. However, the financial side of divorce must be given special attention, and there are many ways in which your finances could be impacted by your marriage coming to an end. Moreover, some people are facing other financial struggles in life, such as those who have lost their job, which can add to their divorce-related financial stress.
Many people have considered alimony a negotiation tool during divorce cases for decades. Though a person may have cringed at the thought of having to continue supporting an ex-spouse, the paying individual may still have appreciated the ability to deduct those payments come tax time. However, now that 2019 is underway, that ability no longer exists.
Every year, many people focus on improving their lives in the new year, whether they want to eat healthier, get more exercise or accomplish some other type of goal (such as something related to their career). However, some people may have New Year’s resolutions regarding their divorce or other family law issues. For example, someone may make a resolution that they will stay caught up on their child support in the new year or find the courage to handle some stressful family law matter that they have been pushing off.