The commonly held notion that more people get divorced after the holidays is true and, it turns out, there are plenty of good reasons for it. For one thing, the holidays are a trying time full of family, friends, get-togethers and expectations. Making the move to divorce during the midst of all that is not something most people relish. Instead, they prefer putting it off until January.
Many experts in the family law world say that January is peak time for divorce filings, a period rivaled only by September which sees a rush of people trying to break up after the long summer holiday. Beyond the tension of the season, there are some practical reasons why waiting until the New Year is a good idea.
The first reason is that it can be smart to wait and see if your spouse gets a year-end bonus. Many jobs pay Christmas bonuses and some jobs, particularly sales positions, can see substantial payments at the end of a calendar year. You don’t want to file and then have a big payment come in only to fight about whether the amount qualifies as a marital asset or separate property.
Second, everyone understands how emotional the holidays can be. Christmas and New Years involve gift giving, family demands, children and a host of other stressful things It’s better to ride out the busy time and not add fuel to an otherwise blazing fire. Wait until the extended family has gone home and you have a moment to collect yourself before pulling the trigger. Such a big decision is best made deliberately rather than in the heat of an especially stressful few weeks.
Finally, the calendar year can be helpful in providing a plethora of year-end financial statements. Waiting until the New Year to file can give you the opportunity to collect bank statements, tax records, draw up budgets, get mortgage statements and credit card balances in order before filing. Such records are critical for determining things like spousal and child support as well as how much assets and debts have to be apportioned to each party.
Though waiting may seem hard if you’re in a bad marriage, it might be the smart move to ensure you’re in the best position down the road. Better to wait and be prepared than rush and wish you could change things later.
Source: “Considering a divorce? Wait until January,” by Geoff Williams, published at NBCNews.com.
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