Waiting for the New Year to begin is often the best strategy for filing for divorce. This may offer at least some relief for those individuals who may know that their marriage has ended, but who would appreciate some peace during the holidays.
There are also good financial reasons to wait until the New Year before filing the legal documents, especially for those with high assets and involving high net worth.
Among the reasons for waiting until 2013 to file for divorce are:
- Time for planning. By waiting out the year, you have time to collect necessary information, statements and documents. This information can help when making determinations about spousal support and property division. Having a fresh start by filing in the New Year can streamline those efforts and make the division of property less complicated than it might otherwise be.
- Divorce is a process. The process takes time, especially when substantial assets and high-net worth are involved. Even if you file for divorce in December, your divorce may not be completed within a year. This means that there is very little reason to rush into making hasty decisions, especially when there may be very good reasons for waiting, such as the entitlement to a portion of your spouse’s year-end bonus.
- Avoid costly expenditures. While the shopping season remains among us with holiday sales taking advantage of the season, either spouse may be more likely to make a revenge purchase and deplete their assets during this emotional time.
In the end it makes most financial sense for Georgia residents to meet with an experienced family law attorney who can help to plan the best strategies during the divorce process, including the timing of a divorce filing.
Source: nbcnews.com, “Considering a divorce? Wait until January,” Dec. 26, 2012