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Waiting to file for divorce may not be wise

On Behalf of | Aug 23, 2018 | high asset divorce | 0 comments

With well over half the year behind us and just a few weeks until we are barraged with demands of the holidays, this can be a good time to stop and think about what you want in the coming year. For some people, this means thinking seriously about filing for divorce.

Of course, you should not rush to or through divorce. It is serious emotional and legal process that demands careful consideration and lawfully sound solutions. That said, if you are considering divorce and find yourself putting it off for no meaningful reason, you might want to consider the following few details.

  1. Alimony laws are changing. Due to the Tax Cuts and Jobs Act, a person paying alimony will no longer be able to deduct those payments starting next year. This could mean potential alimony payers will be less willing to pay spousal support. Finalizing a divorce before 2019 can help people take advantage of the existing tax break.
  2. There is a 90-day cooling off period in Pennsylvania. In accordance with state laws, parties in an uncontested divorce must wait 90 days after the first divorce form – the Complaint – is filed before filing consent forms. In other words, if you want to divorce before the holidays or new year, filing sooner rather than later would be wise.
  3. It could affect the assets eligible for division. Many people live separately for some time before filing for divorce. Understand, though, that this can complicate property division when you do divorce. Assets and debts acquired after the date of separation are generally not eligible for divorce. This can come as a surprise to many people and result in unexpected challenges and disputes during the division of assets.

Again, you should not rush to divorce if you are not ready. However, if you are ready, then these are a few reasons why you might not want to continue waiting.