Divorce has the potential to upend both spouses' lives for a while. There is a significant financial toll to consider because neither household will have as much total income. However, there is also the toll to relationships to consider.
Divorce can really take its toll on a family. This is especially true when it comes to finances, which are often negatively impacted after a marriage breaks up. Fortunately, there are steps you can take to bounce back from the financial aspects of divorce, as explained by Entrepreneur.
Millennials have begun to marry at later ages than previous generations. As a result, the divorce rate has begun to decline in recent years. The belief is that millennials marry when older and wiser. They recognize the importance of marriage and do not rush into it. Additionally, millennials have increased the rate at which married couples acquire prenuptial agreements, according to The New York Times.
If you are a parent in Florida and are going through a divorce, one of your biggest concerns is probably what will happen to your children. There are numerous factors that a judge considers when making this decision, and it usually comes down to what is in the best interest of the child.
If you are ordered to make alimony payments in your divorce settlement, you have been able to write those payments off on your taxes in years past. Previously, alimony payments were tax deductible under federal law. However, changes to this federal law have restricted this right for people in Florida and throughout the United States. In 2019, alimony payments are no longer tax deductible, and this change may have a significant effect on your taxes, your finances and your life.