A marriage can end anytime, but according to a recent report, January seems to be the most popular. People in Illinois and across the country have a lot to consider when weighing complex divorce issues. Children, finances and, of course, emotions all play a key role in the process. When weighing those factors, it appears that people end up choosing the beginning of the year to end a marriage.
The New York Post reports that January is responsible for hosting the most divorces. An advisory firm notes that the 31 days dubbed “divorce month” has approximately a one-third increase in the number of divorce filings that take place. The reason could be that more families choose to stay together over the holiday season and then separate in January.
No matter when a couple chooses to divorce, an adviser and fiduciary specialist recommends considering a few factors to prevent the event from becoming a financial disaster. For example, both spouses should think about how much money will be needed for living expenses. Additionally, the cost of the divorce should be factored into the decision. Lastly, couples should be aware that any debt accrued during the course of the marriage are subject to division. Therefore, it is possible to have to pay off a spouse’s debts after divorce.
People can take steps to prevent a messy separation. Getting the right legal representation can help to simplify complex asset division and other matters. Anyone who is considering a divorce should consult with an attorney.
Source: New York Post, “January is the biggest month for divorces,” Gregory Bresiger, Jan. 11, 2015