This time of year is often thought of as a time of renewal and change. For many Texas couples, that change may mean a move toward a split. January is often referred to as divorce month, as there is typically a spike in divorce filings this time of year.
New statistics point to a significant jump in January in Internet searches for the word divorce and other family law terms. Many people associate the jump in searches about divorce and actual filings with the belief that people do not want to upset tradition or disrupt the holiday season. The quest to start out fresh this time of year is also cited as a reason.
There may also be financial reasons people choose to postpone divorce filings until January. Some people receive considerable bonuses or gain other assets in the last month of the year. The other party may want to hold off on filing to ensure that these assets or bonuses are counted as marital property. Taxes are also a reason. If a couple waits until after Dec. 31 to finalize a divorce, they can still file jointly for the year in which they remained married.
While each couple or party typically files at the right time for them, Texas couples may benefit from being fully aware of tax and marital property issues before they proceed. A family law professional may be able to explain the process and how holiday bonuses can come into play. The more the parties knows a about Texas divorce during 2014, the better prepared they may be when it comes to the details.
Source: cnn.com, ‘Divorce Month’: In January, ‘ex’ marks the spot, Sarah Letrent, Jan. 17, 2041