A common adage is that half of all marriages end in divorce. That is actually not quite true. The divorce rate in the United States is actually the lowest it has been in decades, according to a report in Time Magazine.
However, many couples still deal with divorce eventually. While it can be a daunting proposition to go through with divorcing a spouse, it is important to remember that if someone is going to go through with it, it requires adequate foresight. Both spouses need to collect financial records, they need to make other living arrangements, and they should consider filing at the best time of year for divorce: January.
January makes it easy to plan for taxes
If a couple were to get a divorce in January 2018, then they would still file taxes jointly for 2017's taxes. Filing in January allows both parties to plan for filing single forms next year. Both people have time to determine who receives the mortgage interest deduction. As long as the divorce becomes finalized before the end of the year, filing for taxes is likely to be a lot simpler.
January makes things easier on the kids
A common reason why people delay getting divorced is for the children. One partner may want to divorce by the end of the year, but this can be hard on the kids with the holidays right around the corner. It is typically best for everyone to wait until after the holiday season so the kids can enjoy one more get-together with both parents as a couple.
January means it is time for a fresh start
You have likely heard the expression, "New year, new you." Most people make New Year's resolutions, and being single can be a great resolution to put on the list. January can allow couples to start fresh. Additionally, waiting until January allows everyone to get adjusted to the new living arrangement before the next holiday season.
Learning about your options now can help you better prepare for divorce. Consider speaking with a divorce attorney to learn about what steps you can take now to help you in the following months if you decide to file for divorce.