The Pros and Cons of Waiting Until the New Year to File for Divorce
As the end of the year approaches, many couples who have been contemplating divorce may choose to wait until the new year to file. Some may see it as a fresh start, while others may view it as a strategic move to minimize tax implications or to avoid disrupting holiday plans. Whatever the reason may be, it's essential to weigh the pros and cons before making a decision. In this blog post, we'll explore the advantages and disadvantages of waiting until the new year to file for divorce.
Pros of Waiting Until the New Year to File for Divorce:
1. Time to Prepare:
Waiting until the new year can provide spouses with time to prepare for the divorce process. This includes gathering financial documents, finding an attorney, and making arrangements for children if necessary.
2. Tax Benefits:
Filing for divorce in the new year can have tax benefits, especially if you're seeking spousal support or child support. These payments are tax-deductible for the paying spouse and taxable income for the receiving spouse.
3. Avoiding the Holiday Season:
Divorcing during the holiday season can add unnecessary stress to an already difficult situation. Waiting until after the holidays can reduce the emotional burden and allow both spouses to enjoy the festivities with their families.
Cons of Waiting Until the New Year to File for Divorce:
1. Delayed Resolution:
Waiting until the new year can mean a delay in the final resolution of the divorce. This can prolong the stress and anxiety of the divorce process and prevent spouses from moving on with their lives.
2. Financial Implications:
Waiting until the new year can have financial implications, especially if one spouse is the primary breadwinner. Delaying the divorce can mean that the higher-earning spouse will have to pay more in spousal or child support.
3. Emotional Toll:
Waiting until the new year can also take an emotional toll on both spouses. The anticipation of divorce can cause anxiety and depression, and delaying the process can prolong the pain.
In conclusion, there are pros and cons to waiting until the new year to file for divorce. It's essential to consider your specific circumstances and consult with an experienced family law attorney before making a decision. At Drexler Law, we understand the complexities of divorce and can provide you with the guidance and support you need to navigate the process. Contact us today to schedule a consultation.