Best Divorce Attorney in Manhattan – Should You Wait Until Summer Is Over To Get Divorced?
There is no ideal time to start a divorce. In fact, you may find yourself months or years down the road still trying to find the “perfect time” to bring it up to a spouse, or officially file divorce papers. But, there are two important factors to consider, which may help make the decisions a little easier – family and finances.
What timing would be best for your family?
Val Kleyman, rated best divorce attorney in Manhattan says “Divorce can have a huge impact on children, and it is important to consider where your family is emotionally and practically before you file for divorce. Couples, especially those with children, often lean toward summer to initiate divorce proceedings because doing so eases some of the transition issues for children. Summer allows parents time to plan out how they will tell their children about the divorce, create a new living schedule for the children, and allow the children to adjust to this change without disrupting their school year. Kids may also be away from the home during the summer, at camp or summer programs, so this allows the parents time to move out, create separate living arrangements and adjust to being single without the children witnessing the change.”
What timing would be best for your finances?
Finances are also a huge factor when filing for divorce, and the time of year you file could have a huge impact of them. When a divorce is filed, the clock stops on marital asset accumulation, so any money earned after the divorce is filed is typically treated as property that will not be subject to division. Therefore, it could be beneficial to file for divorce if you know you are going to get a windfall of money in the near future, such as a bonus or payout from a business deal. As such, Val Kleyman, rated best divorce attorney in Manhattan, recommends filing right away.
There could also be advantages to filings earlier in the year or later, depending on each person’s unique situation. Filing for divorce early in the year can make accounting easier, because there is a clean year-end break when it comes to documents regarding assets and liabilities. All earnings for the new year will be classified as separate property for distribution purposes. Filing early in the year will also allow you to take advantage of tax benefits and file jointly for income tax purposes, so long as your judgement of divorce isn’t issued before the end of the tax year.
Filing later in the year could be advantageous if your income took a hit that year, or your business was doing better than usual. If your income is lower than usual, you may want to wait until you file your tax return for that year, so you don’t potentially find yourself on the hook for higher support amounts. If you own a business, it is important to know what date your State will use in valuing your business. Depending on how business is going, filing earlier or later could have its advantages.
If you are ready to start a divorce, it is important to discuss the timing of filing with an experienced professional and someone rated best divorce attorney in Manhattan to ensure you do what is best for your family and finances. Give our office a call today to speak with one of our attorneys. Val Kleyman and other attorneys at the Kleyman Law Firm received high ratings from and Super Lawyers as top lawyers in the field of family law in New York. We are ready to help you.