A spouse who files for divorce may want to take the proper steps to ensure that legal documents are drawn up quickly. Prior to receiving a divorce decree, both parties must make various arrangements to divide their assets and make plans for future finances. The issue is more important if child support is a concern.
In some Minnesota divorces, spousal support may be an issue. Spousal support, which is commonly called alimony, consists of monthly support payments that are made by a higher-earning spouse to a lower-earning spouse for a period of time after a divorce. It is not ordered in every case.
People in Minnesota who decide to divorce may find themselves emailing back and forth with their lawyers and discussing the breakup of their marriages using their smartphones, email accounts and other digital devices. Just like with other key events in people's lives, a divorce often sparks a great deal of electronic communication. In addition, it may inspire people to make some changes to their accounts and devices in order to protect their privacy and prepare for the single life to come.
As divorced couples in Minnesota may have experienced firsthand, the process of dividing assets is a difficult one that tends to be contentious. The appearance of cryptocurrencies on the financial scene has only made the whole process all the more difficult, especially since many family law lawyers have little experience with this digital asset.
Parents in Minnesota may already realize the significant financial benefits of claiming children as dependents on tax returns. In addition to being able to file as Head of Household, parents who claim their kids as dependents may also claim credits such as the Earned Income Tax Credit, Child Tax Credit and Child and Dependent Care Tax Credit.
Parents in Minnesota have some valid reasons to be concerned about direct forms of communication like texting and social media. However, a new study suggests such technology may actually help kids feel loved and supported when one parent no longer lives in the same home. It has long been asserted that kids cope better with divorce when divorcing parents get along, but researchers came to a different conclusion.
Some soon-to-be ex-spouses in Minnesota may take drastic measures to hide assets in a divorce. While this is usually done to subvert the property division process, following a financial trail can also lead a spouse to the discovery of an affair. This was the case for a woman who found her husband had created a second entity for his New York company in Florida. The company never did business in Florida, but he used the address of the woman with whom he was having the affair as the business address.
For many people in Minnesota, the decision to divorce has followed some painful emotional circumstances. People may find themselves arguing frequently, or issues like infidelity or addiction may be affecting the marriage. At the same time, other people grow apart without the same heavy conflicts, although divorce can still be a draining and emotional experience for these couples. Still, many people are wary of ending their marriages because they do not want to experience a lengthy court proceeding and a costly battle over money. While high-profile divorces or representations in fictional media may meet this description, many people divorce each year in a more collaborative manner.
Minnesota residents contemplating a divorce would do well to consider avoiding mistakes that could have a negative impact on their financial situation after the divorce. For example, an individual going through a divorce may feel tempted to share a lot of information about the divorce or about their soon to be ex on social media. Doing this can harm the divorce negotiations.
Even though the divorce rate in the United States is falling, divorce still occurs frequently. Couples in Minnesota who are considering getting a divorce may be interested to learn that some reasons for divorce are very common.