Posts tagged "Divorce"

Keeping control of personal finances during a divorce

It's no secret that money problems are near the top of the list as to why Tennessee couples and others throughout the country divorce. Some divorced individuals blame debt and student loans on the reason for their divorce. Divorce can also leave individuals struggling to pick up the pieces in a financial sense. Here are a few things individuals can do to stay in control of their finances during the divorce process.

Rise in prenups attributed to millennials

Millennials who live in Tennessee might be more likely than their parents did to want a prenuptial agreement. Nearly two-thirds of the attorneys in a survey by the American Association of Matrimonial Lawyers said there had been a rise in couples asking for a prenup, and of those, over half said that more millennials were requesting them.

Social Security eligibility for divorced spouses

Divorcing spouses in Tennessee and around the country who have never worked or only worked part-time have a lot at stake during alimony negotiations, but these discussions are usually less contentious when the couples involved have been married for 10 years or longer. That is because divorced spouses who were married for at least a decade are eligible to receive Social Security benefits based on the contributions made by their former wives or husbands.

Marriages less likely to last when wives earn more than husbands

Some men in Tennessee are perfectly fine with being stay-at-home dads or having a wife who earns more. However, not all men have this attitude even though nearly 40% of wives earn more than their husbands according to Bureau of Labor Statistics figures. Census Bureau stats also show that when a wife is the higher-earning spouse, her income is reported for census purposes at nearly 2 percentage points lower than it really is.

Divorce property division for stay-at-home parents

Around 25% of mothers in Tennessee and across the country stay home from the workplace to raise their children as do 7% of fathers. This choice is widely praised socially. Over half of Americans surveyed say they think it is better when a mother can stay at home than go to work or even have a stay-at-home father. Being a stay-at-home mother often involves more than just providing childcare and education. As a result of the parent at home's time and availability, the parent in the workforce can work long hours, go on business trips and develop his or her career far more extensively than if they had to share parenting duties or rely on traditional paid childcare providers.

Tasks to complete after a court grants the divorce

In Tennessee, many couples find it painful to even think about getting divorced. The entire procedure of filling out legal documents rivals the strong emotions and conflicting thoughts felt by both spouses. Feeling burdened with sleepless nights and grief, couples may benefit from working with an experienced family law attorney. Ex-spouses could still have more work to do even after the divorce decree has been signed by both parties.

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