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Divorce Archives

Divorce may have considerable tax impacts in Oregon

Most individuals worry about their finances at some point or another. A major catalyst that could spark this concern is going through divorce. Because ending a marriage means living on a single income and potentially losing and gaining assets during property division, understanding financial impacts may be vastly important. Oregon residents may want to pay particular attention to potential taxation.

Give PEACE a chance during a divorce

When an Oregon couple decides to end a marriage, peace is typically not a word that immediately comes to mind. However, divorce experts suggest that the process may work more smoothly if specific areas are addressed. The areas can be easily remembered by the acronym PEACE.

Taxes can be affected by divorce

There are many emotional aspects involved when an Oregon couple decides to end a marriage. In addition, several financial considerations come into play during divorce proceedings. One area that can be significantly affected in a divorce is the couple's income tax return. Financial experts recommend taking a close look at the areas where divorce can have the most impact.

Decline in divorce rate should not be viewed as good or bad

Many statistics are available in Oregon and throughout the country. When viewing data, there is a tendency to define a positive and negative direction of the trends. For example, unemployment numbers going down would be positive, whereas an increase in crime would be viewed as negative. However, experts are recommending that one particular statistic should not be viewed this way. They suggest that changes in the national divorce rate – either up or down – should not be considered good or bad.

Divorce rates down across the country

People often make the statement that half of all marriages in this country will end. However, a recent study by the National Center for Family and Marriage Research shows that the divorce rate has steadily declined in the last four decades. In fact, when studying marriages in Oregon and across the country, research shows that those rates are at their lowest in quite some time.

Seasonal spike in divorce filings follows holiday periods

Most Oregon families relish the holiday seasons and look forward to time spent in the company of their loved ones. For those unhappy in their marriage, however, holidays are stressful and emotional times filled with doubts and contemplation. It may come as no surprise, then, that January is sometimes referred to as "Divorce Month" by professionals who deal with crumbling marriages.

Researchers point to full-time employment as factor in divorce

Most couples in Oregon have their own opinions about what factors are most likely to ultimately lead to the breakdown of a marriage. Money problems are commonly believed to be a strong influencer of divorce, as are extramarital affairs and wives' ability to go financially support themselves after a split. However, researchers claim that how a couple divides up unpaid and paid labor can create a much higher risk.

Divorce in Oregon may require some planning ahead

For people in Oregon, the uncertainty of life when a marriage ends may bring with it many fears. Some of those questions cannot be prepared for ahead of time. However, when it comes to one's financial situation, there are some things a person can do prior to a divorce settlement.

Divorce doesn't have to hurt your wallet

One of the biggest concerns people have when filing for divorce is their future financial status. From splitting up debt to taking on the financial responsibility for a home, there are many opportunities for individuals to falter. While Oregon couples filing for a divorce do not need to be worried about the actual process of divorce affecting their credit score, they should be aware of how decisions made during property division can potentially have a negative effect.