If you are thinking about filing for divorce, you are not alone. While divorce filing rates typically spike early in the year, spouses often start contemplating divorce before the holiday season.
So, if you are contemplating a divorce, should you wait? Or, are there benefits to starting (and possibly finishing) the divorce process before the end of the year?
As with most divorce-related questions, the short answer is, “It depends.” There can be benefits to finalizing a divorce before the end of the year, but there can also be benefits to waiting. Ultimately, what makes the most sense for you depends on your specific circumstances, and you should discuss your options with an experienced divorce attorney who can help guide you forward.
7 Timing Considerations for Getting Divorced in Arizona
If you are trying to decide whether you should file for divorce now or wait until the New Year to start the divorce process, here are seven timing considerations that can help guide your decision-making:
1. Finalizing Your Divorce Before the End of the Year Can Simplify Tax Season
If you finalize your divorce before the end of the year, you will be required to file your income taxes as single (unless you are eligible to file as head of household) for the entire year. While this is a requirement, it can also have certain benefits. Filing as single means that you don’t have to deal with your (former) spouse’s income and deductions, which can simplify preparing your returns.
2. But Finalizing Your Divorce Before the End of the Year Can Also Increase the Amount You Owe
But, while filing as single can simplify tax season, it can also increase the amount you and your spouse collectively owe. As a result, it may be in both of your best interests to file jointly as married one more time. Even if you aren’t exactly sure how much you will owe by April 15, your attorney can help you estimate your potential tax liability and determine how much you would save (if any) by filing jointly.
3. Finalizing Your Divorce Before the End of the Year Could Allow You to Keep Your Bonus
Do you receive an end-of-year bonus at work? If so, finalizing your divorce before the end of the year could allow you to keep your bonus. Even during the divorce process, any income you receive constitutes community property and is subject to division in your divorce (unless otherwise agreed in a prenuptial or postnuptial agreement). But, once your divorce ends, your income is yours to keep—subject to any divorce-related financial support obligations.
Of course, your spouse might know that you are waiting on a substantial bonus, and he or she may factor this into his or her divorce-related decision-making. But this is a factor worth considering, and here, too, your divorce attorney can help you make informed decisions.
4. But Finalizing Your Divorce Before the End of the Year Could Also Make Your Health Insurance More Costly
While finalizing your divorce sooner rather than later may allow you to keep more of your income, it could also make your health insurance more costly. This is particularly true if you have health insurance coverage through your spouse’s employer. If you finalize your divorce after the New Year, you should be able to stay under the employer’s coverage for the remainder of the upcoming year. But, if you finalize your divorce before the New Year, you may need to go through the enrollment process quickly.
5. Finishing the Process Before the New Year Will Give You a Fresh Start
If you can finalize your divorce by December 31, this will allow you to start the New Year with a new beginning. While some people prefer to wait until after the holidays to focus on their divorce, others prefer to focus more on the year ahead. If you fall into this latter category, getting started as soon as you are ready will give you a fresh start as quickly as possible.
6. But It Is Important Not to Rush the Divorce Process
That said, it is imperative not to rush the divorce process. You need to weigh your options carefully and make informed decisions with a clear understanding of their implications for the future. If you focus on finalizing your divorce by a specific date rather than doing what is best for you (and your children) long-term, you may wish you had approached the process differently.
7. Ultimately, You Need to Focus on What is Best for You (and Your Children) Long-Term
This brings us to our final point: Ultimately, you need to focus on doing what is best for you and your children—not just now but also in the future. If the benefits of finalizing your divorce before the end of the year make it worth trying to move quickly, then this is what you should do. On the other hand, if you need more time to make informed decisions, you should take all the time you need. When it comes to getting divorced, you only get one chance to do it right—and this is critical to keep in mind
These are just some timing considerations for deciding when to start the divorce process. To learn more, schedule a free, no-obligation consultation with a Phoenix divorce attorney at Weingart Family Law.
Schedule a Free, No-Obligation Consultation with a Phoenix Divorce Attorney Today
Are you trying to decide whether to file for divorce in Arizona before the end of the year? If so, we invite you to contact us for more information. To speak with an experienced Phoenix divorce attorney at Weingart Family Law in confidence, please call 480-542-0099 or request an appointment online today.