In the past, it was generally assumed that once a couple got married they would combine their finances by creating a joint bank account. Nowadays, however, many couples, particularly "millennials," are choosing to keep their finances separate even after marriage. A survey by the Bank of America revealed that close to 28 percent of married millennials, compared to only 11 percent of "Gen Xers" and 13 percent of "Baby Boomers" are keeping their money separate from their spouse.
For most couples, getting a divorce is a painful and difficult process, emotionally and otherwise. Even if you and your spouse are on good terms and agree on most issues at the beginning, things can easily change by the end. It is easy for divorcing spouses to let their emotions cloud their judgment and, as a result, they make mistakes that affect them negatively for years to come. The right information can set you up for success as a newly single man or woman living in Washington, and help you avoid these costly mistakes.
You and your spouse are getting a divorce and have already begun the process when suddenly, one of you loses your job. How will this change in circumstances effect the proceedings? While every situation is different, there are certain things you can do help yourself during this challenging time.
If you have decided to file for divorce, you should know that every state has its own version of the divorce process. If you or your spouse lives in the state of Washington, you will generally start the process by filing a petition for the dissolution of marriage with the clerk's office in your county or the county where you spouse lives. You will also file a certificate of dissolution, or vital statistics form, with the family law court in Washington. If you choose to hire a divorce attorney, they can help you with every step of the divorce process, starting with the initial filing.
Talk show host Wendy Williams has been in the news lately after filing for divorce from her husband, Kevin Hunter, after 22 years of marriage. According to multiple reports, Hudson apparently was seeing another woman and the two of them had a child born in 2019. Hunter recently responded to Williams' divorce petition, reportedly requesting spousal support to help him get back on his feet after the divorce, as well as child support to cover college expenses for the couple's 18-year-old son.
During the wedding planning process, soon-to-be married couples may be reluctant to consider the very real possibility that their marriage will not work out. As a result, many people refuse to enter into a prenuptial agreement with their fiancé, thereby putting themselves at risk financially if the marriage goes south. Despite this risk, statistics show that only 5% of married couples have a prenup in place. The lack of a prenuptial agreement can be a costly mistake, particularly for high-earning spouses like pop superstar Adele.
When many people think of divorce, they picture an angry, emotional couple fighting over assets and arguing about where their kids should live. However, many couples do not fit this mold. While they may not be able to agree on everything, they are generally able to get along and are willing to work together to avoid a lengthy, tumultuous court battle.
Getting a divorce when you have children is no easy task. In addition to the division of property and marital debts, divorcing couples with kids also have to determine who will have custody of the children. In Washington, child custody arrangements are referred to as a parenting plan. Ideally, parents going through a divorce will work out the details of their own parenting plan. According to Washington Rev. Code Sec. 26.09.181, the plan must specify where the children will primarily stay, how decisions will be made with regards to the child, and how to deal with future issues relating to the children.
Once you and your spouse have decided to go your separate ways, it is important that you make sure you do everything in your power to protect yourself financially and ensure that you are prepared for the future. Experts suggest that getting organized can help you get what you want out of the divorce.