{"id":208,"date":"2018-10-23T15:02:45","date_gmt":"2018-10-23T15:02:45","guid":{"rendered":"http:\/\/ladintax.com\/blog\/?p=208"},"modified":"2018-10-23T15:02:45","modified_gmt":"2018-10-23T15:02:45","slug":"odds-for-divorce","status":"publish","type":"post","link":"http:\/\/ladintax.com\/blog\/2018\/10\/23\/odds-for-divorce\/","title":{"rendered":"Odds for Divorce"},"content":{"rendered":"<p class=\"MsoNormal\"><span style=\"font-family: arial, helvetica, sans-serif; font-size: small;\">Every couple who decides to marry runs <em style=\"mso-bidi-font-style: normal;\">some<\/em> risk of divorce in the future. The only way to definitively avoid divorce is to remain single, but plenty of people are willing to take their chances.<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-family: arial, helvetica, sans-serif; font-size: small;\">Among the many unintended consequences of divorce is the toll it can take on a couple&#8217;s finances. Of divorced women, 46 percent reported in an online survey that divorce brought with it financial surprises. Those included having no idea how much the household carried in debt, such as mortgages, auto loans, 401(k) loans, student loans and credit cards. Many assumed their child support and\/or alimony would be more substantial or last longer; that they would be able to keep the family home; or that they wouldn&#8217;t have to return to the workforce.<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-family: arial, helvetica, sans-serif; font-size: small;\">As for the cost of actually filing for divorce, here are some averages from a nationwide survey by legal site Nolo.com:<sup>2<\/sup><\/span><\/p>\n<ul>\n<li><span style=\"text-indent: -0.25in; font-size: small; font-family: arial, helvetica, sans-serif;\">$250 per hour for a divorce attorney<\/span><\/li>\n<li><span style=\"text-indent: -0.25in; font-size: small; font-family: arial, helvetica, sans-serif;\">$6,000 to $7,000 for divorce mediation<\/span><\/li>\n<li><span style=\"text-indent: -0.25in; font-size: small; font-family: arial, helvetica, sans-serif;\">$175 to $700 for legal document preparation (for an uncontested divorce)<\/span><\/li>\n<li><span style=\"text-indent: -0.25in; font-size: small; font-family: arial, helvetica, sans-serif;\">$200 to $500 for online divorce services (paperwork assistance without court filing)<\/span><\/li>\n<li><span style=\"font-family: arial, helvetica, sans-serif; font-size: small;\">$12,800 average spent on divorce per couple<\/span><\/li>\n<\/ul>\n<p class=\"MsoNormal\"><span style=\"font-family: arial, helvetica, sans-serif; font-size: small;\">While it&#8217;s always advisable to have legal assistance during a divorce, that&#8217;s not the only advice you should seek. Both spouses should work with a financial professional to understand the combined household assets. It&#8217;s important to consider things like withdrawal accessibility, tax liabilities and early withdrawal penalties. Also, it&#8217;s best to view finances from a &#8220;big picture&#8221; point of view instead of a single asset at a time, including insurance resources.<sup>3 <\/sup>Let us know if we can help you with any questions you might have about your insurance policies.<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-family: arial, helvetica, sans-serif; font-size: small;\">Of course, the best way to avoid the expense and hassle of divorce is not to get one. Recent studies have revealed some interesting statistics related to marriages that end in divorce, which couples may wish to consider when planning their nuptials.<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-family: arial, helvetica, sans-serif; font-size: small;\">For example, statistician Nathan Yau tracked divorce rates by profession, using U.S. Census data, and found that people in certain professions have a greater likelihood of divorcing, while others are less likely to end up there. Actuaries are the least likely to get a divorce &#8212; presumably because of their experience predicting risk and managing uncertainty &#8212; according to Yau&#8217;s analysis. Other professions with lower divorce rates include scientists, clergy, software developers and physical therapists. Professions with the highest divorce rates include casino managers, bartenders and flight attendants.<sup>4<\/sup><\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-family: arial, helvetica, sans-serif; font-size: small;\">Another study found that couples can reduce their chances of divorce in the wedding planning phase. For instance, a marriage has the best chance of lasting when the couple:<sup>5<\/sup><\/span><\/p>\n<ul>\n<li><span style=\"font-family: arial, helvetica, sans-serif; font-size: small;\">Spends less money on the engagement ring (less than $2,000)<\/span><\/li>\n<li><span style=\"font-family: arial, helvetica, sans-serif; font-size: small;\">Spends less money on the wedding &#8211; weddings costing less than $1,000 have a better chance than those costing more than $20,000<\/span><\/li>\n<li><span style=\"font-size: small;\">Goes on a honeymoon<\/span><\/li>\n<li><span style=\"font-family: arial, helvetica, sans-serif; font-size: small;\">Does not let their partner&#8217;s physical appearance factor into their decision to marry<\/span><\/li>\n<\/ul>\n<p class=\"MsoListParagraphCxSpMiddle\" style=\"margin-left: .75in; mso-add-space: auto; text-indent: -.25in; mso-list: l1 level1 lfo2;\">&nbsp;<\/p>\n<p class=\"MsoListParagraphCxSpMiddle\" style=\"margin-left: .75in; mso-add-space: auto; text-indent: -.25in; mso-list: l1 level1 lfo2;\">&nbsp;<\/p>\n<p class=\"MsoListParagraphCxSpMiddle\" style=\"margin-left: .75in; mso-add-space: auto; text-indent: -.25in; mso-list: l1 level1 lfo2;\">&nbsp;<\/p>\n<p class=\"MsoNormal\"><span style=\"font-family: arial, helvetica, sans-serif; font-size: small;\">Interestingly, more divorces are filed in March and August than any other months. Some theorize that couples don&#8217;t want to spoil the holiday season or summer vacation by announcing their intentions. Besides, some couples believe that spending more family time together during those holidays may help save the marriage.<sup>6<\/sup><\/span><\/p>\n<p class=\"MsoNormal\">&nbsp;<\/p>\n<p class=\"MsoNormal\"><span style=\"font-family: arial, helvetica, sans-serif; font-size: small;\"><strong style=\"mso-bidi-font-weight: normal;\"><em style=\"mso-bidi-font-style: normal;\">Content prepared by Kara Stefan Communications.<\/em><\/strong><\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-family: arial, helvetica, sans-serif; font-size: small;\"><sup>1<\/sup> Laurie Itkin. Forbes. July 15, 2018. &#8220;The 6 Nasty Financial Surprises For Divorcing Women.&#8221; <a href=\"https:\/\/www.forbes.com\/sites\/nextavenue\/2018\/07\/15\/the-6-nasty-financial-surprises-for-divorcing-women\/#12e3a69524b9\">https:\/\/www.forbes.com\/sites\/nextavenue\/2018\/07\/15\/the-6-nasty-financial-surprises-for-divorcing-women\/#12e3a69524b9<\/a>. Accessed Aug. 31, 2018. <\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-family: arial, helvetica, sans-serif; font-size: small;\"><sup>2 <\/sup>Heather Skyler. Supermoney.com. July 10, 2018. &#8220;The Average Cost of Divorce and 5 Major Financial Mistakes to Avoid.&#8221; <a href=\"https:\/\/www.supermoney.com\/2018\/01\/average-cost-divorce-5-major-financial-mistakes-avoid\/\">https:\/\/www.supermoney.com\/2018\/01\/average-cost-divorce-5-major-financial-mistakes-avoid\/<\/a>. Accessed Aug. 31, 2018. <\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-family: arial, helvetica, sans-serif; font-size: small;\"><sup>3 <\/sup>Ibid.<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-family: arial, helvetica, sans-serif; font-size: small;\"><sup>4<\/sup> Leah Fessler. Quartz. Aug. 23, 2017. &#8220;The occupations with the highest and lowest divorce rates in the US.&#8221; <a href=\"https:\/\/qz.com\/1069806\/the-highest-and-lowest-divorce-rates-in-america-by-occupation-and-industry\/\">https:\/\/qz.com\/1069806\/the-highest-and-lowest-divorce-rates-in-america-by-occupation-and-industry\/<\/a>. Accessed Aug. 31, 2018.<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-family: arial, helvetica, sans-serif; font-size: small;\"><sup>5 <\/sup>Chelsea Ritschel. Independent. July 6, 2018. &#8220;Couples Who Spend More on Their Weddings Are More Likely To Divorce, Study Finds.&#8221; <a href=\"https:\/\/www.independent.co.uk\/life-style\/love-sex\/wedding-cost-marriage-divorce-ring-how-much-price-study-a8435646.html\">https:\/\/www.independent.co.uk\/life-style\/love-sex\/wedding-cost-marriage-divorce-ring-how-much-price-study-a8435646.html<\/a>. Accessed Aug. 31, 2018. <\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-family: arial, helvetica, sans-serif; font-size: small;\"><sup>6<\/sup> Diana Bruk. Observer. June 7, 2017. &#8220;New Study Shows Most Divorces Happen in These Two Months.&#8221; <a href=\"http:\/\/observer.com\/2017\/06\/university-of-washington-study-shows-most-divorces-happen-in-march-august\/\">http:\/\/observer.com\/2017\/06\/university-of-washington-study-shows-most-divorces-happen-in-march-august\/<\/a>. Accessed Aug. 31, 2018. <\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-family: arial, helvetica, sans-serif; font-size: small;\"><em>We are not permitted to offer legal advice. Individuals are encouraged to consult with a qualified professional before making any decisions about their personal situation.<\/em><\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-family: arial, helvetica, sans-serif; font-size: small;\"><em style=\"mso-bidi-font-style: normal;\"><span style=\"color: black; background: white;\">We are an independent firm helping individuals create retirement strategies using a variety of insurance products to custom suit their needs and objectives. This material is intended to provide general information to help you understand basic retirement income strategies and should not be construed as financial advice.<\/span><\/em><\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-family: arial, helvetica, sans-serif; font-size: small;\"><em style=\"mso-bidi-font-style: normal;\"><span style=\"color: black; background: white;\">The information contained in this material is believed to be reliable, but accuracy and completeness cannot be guaranteed; it is not intended to be used as the sole basis for financial decisions. If you are unable to access any of the news articles and sources through the links provided in this text, please contact us to request a copy of the desired reference.<\/span><\/em><\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: small; font-family: arial, helvetica, sans-serif; color: black; background: white;\">595685B<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Every couple who decides to marry runs some risk of divorce in the future. The only way to definitively avoid divorce is to remain single, but plenty of people are willing to take their chances. Among the many unintended consequences of divorce is the toll it can take on a couple&#8217;s finances. Of divorced women,&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_expiration-date-status":"","_expiration-date":0,"_expiration-date-type":"","_expiration-date-categories":[],"_expiration-date-options":[],"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/ladintax.com\/blog\/wp-json\/wp\/v2\/posts\/208"}],"collection":[{"href":"http:\/\/ladintax.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/ladintax.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/ladintax.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/ladintax.com\/blog\/wp-json\/wp\/v2\/comments?post=208"}],"version-history":[{"count":1,"href":"http:\/\/ladintax.com\/blog\/wp-json\/wp\/v2\/posts\/208\/revisions"}],"predecessor-version":[{"id":209,"href":"http:\/\/ladintax.com\/blog\/wp-json\/wp\/v2\/posts\/208\/revisions\/209"}],"wp:attachment":[{"href":"http:\/\/ladintax.com\/blog\/wp-json\/wp\/v2\/media?parent=208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/ladintax.com\/blog\/wp-json\/wp\/v2\/categories?post=208"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/ladintax.com\/blog\/wp-json\/wp\/v2\/tags?post=208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}