It takes a lot to develop a successful marriage. Things like good communication, honesty and respect can go a long way. However, there are many things people might not think of that could create tension between them and their spouse.
Splitting marital assets comes with its own set of challenges. But dividing retirement accounts can be a big hurdle for couples, especially in a volatile market. These accounts make up a substantial portion of a couple’s net worth. And if they don’t divide it correctly, they could face significant tax penalties.
Divorce doesn’t always have to be ugly. In fact, some women end up being more satisfied than when they were married. In a recent survey, researchers examined more than 2000 divorced adults in the United Kingdom.
Getting a divorce will have several impacts on your taxes. The year after filing, you will need to make adjustments and account for any tax implications from your divorce. As you probably know, it is important that you file your taxes correctly to avoid penalties and fees that can greatly increase the amount you owe or have a huge impact on your refund amount.
Just as in other states, parents in Wisconsin have a legal obligation to support their children until they become adults. Unlike some other states, however, Wisconsin terminates that parent’s obligation when the child turns 18 years of age (or 19, but only if the child’s still in high school or pursuing a high school equivalency degree.)