More married couples are finding themselves with more debt than ever before. Many marriages end with the man having a mortgage and the woman in school with thousands of dollars in student loan debt. It’s no wonder that the rate of divorce has been on the rise as well. Most of the marriages in our society end with divorce, and it’s no wonder why. The rate of divorce has risen over the past forty years and it seems like people are happier living in marriages where one party is financially strapped. Visit us to know more about An Affair Of The Heart — Intensive Marriage Retreats
Divorce is a legalized union in many states wherein two people formally agree to live together and share their property until they remarry. Now, you probably know, this day that so many people dream about, comes around every year. Many married couples can take advantage of some of these financial advantages, such as being eligible to file joint income tax returns, splitting up pension and social security funds, and getting government benefits for the remaining spouse. It’s no wonder that divorce is at an all time high.
Two out of three married couples end in divorce court. This could be due to cheating, intimacy issues such as sexual performance anxiety, or a number of other root causes that put a strain on the relationship. Divorce is not only emotionally hard on all parties involved, but financially draining on the entire family. In most cases, divorce lawyers will charge a percentage of any assets the couple has or plans to keep after the marriage. This means that a two or three figure monthly salary could be quickly drained when filing for divorce. As you can see, there are many reasons why common-law marriages end in divorce.
There are some states in the United States that offer some form of legal protection to married couples. Some states have what is called a no-fault divorce law. Under this law, if one of the partners is found guilty of adultery, then they cannot be granted a divorce. This type of law is often used between cohabitating couples who are interested in learning more about their true financial situation. In the past couple who were married before the state laws changed could be entitled to certain benefits, such as child support or spousal benefits.
The Social Security Administration also offers an Earned Income Tax Credit. This credit is available for one partner only. Each partner must meet specific requirements to qualify. These requirements are specified in the tax code, which you will want to consult with a certified public accountant. The social security benefits of each partner would determine which one is awarded the maximum tax credit.
If you are considering getting married, it’s important to talk with your partner, children, parents, children’s other adult children, and anyone else that may have an influence on your decision. A good lawyer can guide you through the process and help you make the right choices. Marriage can be a wonderful thing for many married couples, but it can also be a difficult and complicated commitment.