Are you thinking about divorce? If so, you are not alone. While January has been dubbed divorce month, the first three months of the year are often the busiest with filings beginning to rise in January and continuing to increase through March. Several experts speculate that the reason divorce filings increase during this time period is because most people want to get through the holidays with their family intact. According to Kathryn Smerling, a New York City psychotherapist, “for couples with kids, it can be especially important to “hold things together” during the holidays.” Once the holidays are over, people begin to gather information and decide whether divorce is the path they want to take.
Due to the changes in the tax code, 2018 may prove to be an even busier time for divorce. Under the new bill, alimony paid by one spouse to the other will not be tax deductible, and the spouse receiving the alimony no longer has to pay taxes on it. However, the change won’t take effect until 2019, setting up 2018 for a potential increase in divorce filings.
If you are considering divorce, Hess Family Law can provide advice based on your particular situation and goals. More information can be read on the Hess Family Law Blog Post Are You Surprised Divorce Filings Rise In January and Contemplating Divorce? Three Things You Should Do Now.