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August 2018 Archives

Why your friends are wrong about divorce

When it comes to getting a divorce, it seems as if everyone has an opinion or a personal experience to share. Although friends and family members want to provide you with help and assistance, often, their advice may actually be counterproductive.

When friends divorce, others may soon follow

People in New York who decide to divorce might be surprised to learn that marriage splits can be almost "contagious" among social groups. This is not necessarily because friends' marital struggles induce conflict in others' relationships. On the other hand, people with existing problems in their marriages may look at their friends' journeys as successful ways out of a difficult situation. By witnessing their friends' experiences, people might see divorce as more of a possibility for them and learn more about how the process works in practice.

Analysis is needed for financial effects of a divorce settlement

When divorcing, both parties are looking for the best deal possible. A near even split of marital assets is often sought, but what may seem to be an even split can also come with consequences. Individuals in New York and elsewhere should consider seeking professional advice before signing a settlement agreement.

3 dangerous misconceptions about divorce

Though divorce rates are on the decline, it is still a common occurrence, and almost everybody knows somebody who has been divorced. If you and your spouse are considering separation, beware of the information you hear from friends, family and others eager to offer their two cents. All of these sources are liable to contribute to misconceptions that skew your perspective.

Dividing retirement funds in a divorce

Divorcing New Yorkers often find that ending a marriage can have an unexpectedly significant effect on retirement planning. Because retirement funds are often some of the largest assets held by a couple, the division of these savings can form a prominent part of any divorce settlement. After the divorce is over, both partners may have to dedicate themselves to saving in order to rebuild their retirement funds. The expenses that a retired singled person will face can be higher than those faced by a couple sharing one household.

Student loans directly responsible for ending some marriages

According to a Student Loan Hero survey, 13 percent of respondents specifically cited student loan debt as the reason for their divorce. Data from Student Loan Hero also indicates that 39 percent of millennials cited debt as a significant source of stress in their lives. They said that student debt has stopped them from buying homes or taking vacations. Another study found that 43 percent of respondents said that they argued with their spouse over money regularly.

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140 Allens Creek, Suite 3
Rochester, NY 14618

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