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Postnuptial agreements for financial planning

In the past, people in Arizona often thought of prenuptial agreements as either a type of bad luck or a concern only of celebrities or the ultra-rich. When people married at a younger age, they often brought fewer assets and a brand-new career to the relationship. However, a growing number of people are marrying and remarrying at an older age, meaning many of them already own homes or businesses or have children of their own. As a result, prenups have become very useful for a growing number of couples. They do not see these agreements as a negative sign of a pre-planned divorce but as smart thinking about their financial future.

When holiday season ends, divorce season begins

Arizona residents may have heard friends and family members talking about divorce more during January than in other months. If this is the case, it follows a trend that many lawyers see. Statistics show that there is a spike in divorce filings in January after the holiday season.

Why engaged couples should discuss prenups

While most people like to focus on the joy and excitement that surrounds an engagement, it is also important to look at the deeper pragmatic side of it. In order for Arizona couples to avoid a lot of frustration and arguments later on, speaking about finances is essential before they get married. Discussing prenuptial agreements and signing them well before the wedding date can give both of them peace of mind as they move forward with their marriage plans.

How income disparity affects divorce risk

Divorce is more likely among Arizona couples in which the man earns less money than the woman. However, if they earn a roughly equal amount, they are less likely to split up. A number of studies have shown that despite a rise in the percentage of married women who earn more money than their husbands, attitudes have not changed as rapidly. There is still a great deal of pressure placed on men to be the family breadwinners.

Retirement accounts and other investments in a divorce

Getting a divorce can mean dealing with complex investments for some couples in Arizona. It is necessary to understand the restrictions around splitting these investments or withdrawing from them early since doing so can incur significant taxes and penalties. In some couples, one person is largely responsible for managing the money. This can leave the other person at a disadvantage in case of a divorce, and that person should get information on the assets that are owned jointly and individually.

When divorce property division includes a business

Arizona business owners may face some particular challenges when they decide to divorce. Property division and the financial consequences that accompany the end of a marriage can be difficult for people in any profession, but small business owners may actually lose their companies. When a business is small and closely held, it may reflect a large bulk of the marital assets to be divided. In addition, when both spouses were a key part of the company, there may be some serious challenges to determine the future of the company. As a result, some business owners may decide to sell their companies and move on to handle their obligations during the divorce.

When practical concerns motivate a divorce

The widespread debate about raising taxes on the rich has led some Arizona couples to speculate about the potential value of a "strategic divorce". Because taxes are assessed on married couples as a family unit, they may pay more than two single people both earning relatively high salaries. The threshold for the highest tax bracket - 37% - is hit by a married couple before they reach double the salary for that tax bracket for a single person. However, most of the couples in the highest tax brackets are likely to face far more expenses if they choose to divorce than to pay the taxes in question.

When couples don't eat together, divorce could be coming

When couples in Arizona no longer eat dinner together, they may be headed for divorce. This may sound like a radical statement or a major assumption, but experts say that it is often an indication that a marriage is falling apart. Of course, couples may start spending meals apart due to conflicting work schedules and shifts. However, they may soon find themselves spending time apart even on the weekends or other days off from work, especially if the spouses make little effort to offset the logistical problems posed by their work schedules. Essentially, the loss of shared time can be a reflection that both partners are growing apart from one another.

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Law Office of Michael A. Johnson, P.C.
177 N Church Avenue
Suite 311
Tucson, AZ 85701

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