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High net worth divorce to start the new year in Texas

On Behalf of | Dec 18, 2013 | High Asset Divorce |

Divorce is the right choice for some. Some couples get married on a whim, and some get married because they feel a connection that they believe will make their marriage last. But not every marriage will last. Why should a Texas couple stay together if a high net worth divorce would be a better way to start the new year?

Getting divorced can sometimes be a difficult task; therefore, filing in January is a way to not only start out the new year as a new person but can make the process just a little easier. There are three main reasons that this is so. The first, and probably the most important, is the holiday spirit. Most families already have hectic and chaotic holidays involving friends and family gathering to celebrate, and announcing a divorce could create tension and sadness during those times — especially if children are involved.

Reasons two and three are mainly for financial purposes. Determining marital finances is easier at the year’s end so that bonuses and taxes can be included. Since several states do not allow the inclusion of income after the divorce is filed for, filing in January may ensure that any work bonuses from either spouse are included in the documentation. Taxes are also more easily established for newly divorced families at the beginning of the year; therefore, filing in January would ensure that everything is already determined for next year’s tax filing.

Getting divorced in Texas can be a big deal at any time of the year. However, a high net worth divorce can perhaps go smoother if a couple files for their divorce at the beginning of the year. Even though getting divorced can sometimes be difficult to process, making it as easy as possible can help both parties to get what they want and move on with their lives.

Source: The Huffington Post, Three Reasons Why January May Be the Best Time to File for Divorce, Bari Zell Wienberger, Dec. 11, 2013