Splitting up a marital relationship has legal, financial and emotional costs. But there are ways to soften the emotional impact of divorce which can help ease the resolution of other issues.
For over 70 years, spousal support was deductible from federal taxes for the paying spouse. Starting Jan. 1, however, this deduction will be eliminated under the new tax law. This has already made spouses hasten their divorce settlements and change their planning.
Ending a marriage involves numerous difficult issues, such as child custody and support, property division and spousal support. Recently, pet custody has become a more important divorce issue, even though there is little legal guidance over it.
The end of a New York marriage should not mean the end of good credit and financial stability. Protecting credit during a divorce can help assure a spouse's ability to obtain loans and pay for their needs.
If you did not work during your marriage or were not the primary breadwinner, then you can be understandably nervous about how you will support yourself after a divorce.