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April 2019 Archives

Splitting on good terms may be easier with a divorce coach

Any Connecticut resident who follows the news has likely heard about Amazon founder Jeff Bezos' divorce. What's remarkable to many people is how smooth the process went. One way for other splitting spouses to achieve a similar goal is to work with a divorce coach. This is an individual who helps couples navigate the divorce process in a way that's healthy and productive.

How does Connecticut rank in divorce rates?

For years, the common and alarming statistic was that half of all U.S. marriages end in divorce. Although there was a period when the divorce rate was nearly that high, it came at a time when divorce had first become widely available and socially destigmatized. Since then, the divorce rate has been declining steadily for decades.

Are you affected by the new alimony tax law?

Until this year, many divorcees had been enjoying the benefits of an alimony tax deduction. For more than 70 years, the deduction allowed the payer to deduct paid-out alimony on their taxes, which often helped ease the financial burden of these payments. Recipients, who are typically in a lower tax bracket, received the supplemental income with a slight tax hit.

Millennial generation more likely to want prenuptial agreements

Millennials in Connecticut and across the country are using prenups a lot more often to cover property that is held separately, inheritances from family, business ownership interests and other assets. Part of the reason may be the millennial generation's tendency to marry later than previous generations did. Since 2005, the median age for marriage has risen to 29.9 from 27 for men, and the median age for women has risen to 28.1 from 25.5.

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