If you and your spouse are facing divorce after decades of marriage, you no doubt wonder how well you will manage on your own.
A later-in-life divorce brings unique challenges you would not have faced at a younger age.
Mediation, a parenting plan and your child's future
Divorce is hard on children, especially when it takes place in a public courtroom where the judge makes decisions that will affect every member of the family.
On the other hand, mediation puts parents rather than a judge in control of creating a workable parenting plan and deciding the most favorable approaches for the children’s future.
Your business will take center stage in the divorce process
For many divorcing couples, the family home is the number one asset in terms of property division. However, if you are a business owner, your company will likely take that spot.
Here are three basic options to consider in determining the fate of your business.
3 ways to cut costs during divorce
Adjusting to your new life in the wake of a divorce often proves difficult enough, but adjusting to that new life when you are also struggling to keep up with your finances may prove even more problematic. In some cases, divorcing parties fight over every last asset or matter. Doing so has the potential to make divorce-related expenses spike considerably.
The good news is, Forbes reports that not all divorces cost an arm and a leg. There are a number of tactics that you may employ to reduce how much your divorce ultimately costs you. If you are looking to disentangle your life from your spouse's without going broke in the process, consider:
Does infidelity matter in Nevada divorces?
Cheating on a spouse is one of the most common explanations for a divorce. One recent study found that 20% of men and 13% of women admitted to cheating on their spouse at some point during the marriage.
It is natural to want to divorce a spouse after discovering infidelity. Some people may even think they can get more alimony if they prove a spouse cheated on them. However, the truth of the matter is that affairs have a minimal impact on divorce proceedings, and they may not even matter at all.
How to manage your finances after a divorce
Nevada has one of the highest divorce rates in the United States. According to data collected in 2018, if you live in Yerington, Carlin or Fallon, then you may have an increased risk of divorcing, as those cities have the highest rates in the state.
Going through the divorce process is tumultuous, and you may think you are in the clear once the dust has settled. However, you still have work to do. Once you are officially no longer married to someone, there are some financial matters to attend to. Taking care of these as soon as possible helps tremendously in the long run.
Parenting plans during mediation
Division of assets can create a lot of tension in divorce proceedings, but nothing is quite as heated as disagreements over parenting. Up until now, you and your spouse have raised your kids as a team. Now that the separation is underway, you will have to divide.
If you decide to use a mediator, one crucial task you will likely need to complete is a parenting plan. It is an important step to ensure your children have a positive future.
3 reasons you should stay off social media during divorce
Divorce can turn out messier than you anticipated. Even if you and your spouse agree that it is in everyone's best interest, things happen during the course of the proceedings that can make the process more difficult.
Advertising your marital status, or lack thereof, on social media can have an impact on the outcome of your divorce. While it is tempting to share so much of yourself, you need to keep in mind that doing so may come with consequences. These three reasons to stay away from social media during divorce show you why what you post can turn against you.
Common misconceptions about divorce mediation
For many years, Nevada had one of the highest divorce rates in the country. It was nearly double what you would find elsewhere. However, the divorce rate in Nevada has declined in recent years, right along with the rest of the United States.
Despite divorce's prevalence in society, many misconceptions persist around it. In particular, people get many things wrong about divorce mediation. Here are some common myths you need to get out of your head if you think you could benefit from mediation for your upcoming divorce.
When might a forensic accountant help in a divorce case?
While divorcing your spouse can bring with it a near-endless stream of emotions, a divorce, once you take emotions out of the equation, involves dividing your shared assets and debts so you can begin to create a life on your own. Some couples who had short marriages and few shared assets may find that dividing their assets and debts is relatively easy. However, those who have especially complex finances, or those who no longer trust one another for various reasons, may find the process to be far more involved.
In such situations, divorcing couples, or one party within a divorcing couple, may want to hire a forensic accountant to help work through the divorce. A forensic accountant is an accounting professional who may be able to help you work through certain matters relating to property division while improving the chances you get your fair share. So, when might you want to hire a forensic accountant to help you in your divorce?
