More people in Kansas and across the country are choosing to divorce later in life. In the past 20 years, divorces involving couples aged 50 and up have more than doubled nationwide. In 1990, only 10% of people seeking divorces were over 50, but a full one-quarter of divorcing spouses were over 50 by 2010. There are a number of reasons for these changes, including the fact that people who are more socially comfortable with divorce are now older. In addition, people are more likely to divorce in second or later marriages; not all of these divorces involve long-standing couples.
The financial fallout of gray divorce
Financial tips for the divorce process
For people in Kansas, divorce can mean both emotional and financial turmoil. The former can make the latter worse, so it is important to start with a practical plan for one's finances. People should make a short-term budget that encompasses new expenses, such as new health insurance and a new vehicle. The budget can be revised after three to six months once the person has a better handle on expenses.
Relocate or keep the house after divorce
A divorcing parent who wishes to gain sole ownership of the family home in Kansas has several choices. Divorcing parents may decide to let the children grow up in their family home only to sell the house later and split the proceeds. Child custody, parenting plans and visitation options are not permanently decided.
Social media use can negatively impact divorce
Social media is increasingly pervasive in Kansas and across the country, and participating in it can be problematic for people who are approaching or going through a divorce. For people who are considering ending their marriage, it can be a good idea to take precautions with regard to social media use. Once something has been posted online, it is out there for the world to see, which means it could become fodder for use by adverse parties or their lawyers. Damage control prior to divorce can be performed by removing mean-spirited, negative or lewd comments or posts.
No perfect time to file for divorce
Kansas residents might be surprised to find out that divorce filings increase significantly in March and August, according to a study presented at the American Sociological Association in 2016. While experts say that there is no perfect time to file for divorce, the preparation for it should begin months before.
Deciding who pays student loan debt in a divorce
Since Kansas is an equitable property state, if residents get a divorce, the court will take several factors into account when deciding how to divide student loan debt. For example, if one person cosigned for the other spouse's student loan, then both people will probably be responsible for the debt. If one person came into the marriage with student loan debt, it will probably not be considered marital property, and that person will continue to be solely responsible for it.
How Kansas women can prepare for a divorce
While divorce is never simple for anybody regardless of their gender, women often face unique challenges. Unfortunately, some wives are not kept up to speed on the household's entire financial picture. Being in the dark about financial assets such as investments can make it difficult to navigate the difficult process of divorce.
What may happen to a business in a divorce
Kansas couples who own a business together must decide what to do with the business if they get a divorce. Some couples are able to continue running the business even if they do not have an amicable relationship although this can make it much more difficult. They may need to find a way to restructure the business to minimize their contact with one another.
Higher-earning wives may be more likely to divorce
When a Kansas wife earns more money than her husband, divorce could be more likely. This is true even though women make half the income or more in nearly 33% of relationships. According to a 2017 report by the Pew Research Center, a perception remains that men should be the breadwinners.
How income factors into child support payments
Kansas parents who get divorced may be required to pay child support to their spouse. The amount of a child support payment will be partially based on a parent's income. A judge will usually include salary, interest income and any distributions received from an employer or from a business that the parent owns. Other forms of income that may be used to determine a child support payment include deferred or carried interest as well as any bonuses received.
