There are many people in Ohio looking to make wise decisions about how to plan for the future of their assets. When people have worked hard to accumulate significant wealth over the years, they can benefit from making a plan to determine how those assets will be distributed. They may have causes or family members that they want to ensure are cared for, or they may want to avoid estate taxes to the extent possible. However, they may also be concerned about how these estate planning choices might play out in a potential divorce in the future.
Healing from a divorce in Ohio takes time and patience. While the separation process can lead to uncertainty, it can also be an opportunity to start new projects, make new friends and generally find a new focus in life.
Older adults in Ohio may be more likely to get divorced than younger couples. The divorce risk now is more than twice as high for couples 65 and older than it was in 1990. The rate has also increased for people 55 and older.
A study that came out in the Journal of Sex & Marital Therapy surveyed 2,371 people and drew some conclusions about the most common reasons for divorce. The people surveyed were from Ohio or other states, heterosexual and 45 years old, on average. Of the respondents, 44% said they had initiated the divorce, 40% said their partners initiated it, and 16% said divorce was a mutual decision. The four reasons for divorce most commonly cited by respondents were lack of love, problems with communication, lack of trust and drifting apart.
When many Ohio residents who are planning to get married hear the term "prenup," they may immediately assume that prenups are only for those who have significant assets, especially since they can add to the cost of getting married. However, prenuptial agreements can help protect both individuals' interests in the event that a divorce occurs down the line.
A study published in Sociological Science found that divorce could have a significant impact on a white child's education. Specifically, it found that the loss of household income that generally occurs after a couple splits makes it less likely that their children will go to college. However, the same study found that the impact wasn't as great on minority children in Ohio and elsewhere. This is because minority families may not have the same level of wealth prior to divorce taking place.
There are many things Ohio residents need to think about during a divorce, including their credit scores. Fortunately, divorce alone does not hurt a credit score. Credit reports are not influenced by one's marital status. However, there are two common reasons a divorce might lead to a lower credit score.
People rarely go through their divorces without feeling tired and depressed. Divorce involves dealing with unsettling emotions and the necessity of filling out several legal documents. Divorce laws in Ohio and across the United States typically require individuals to spend time thinking about how to divide assets that they owned while part of a couple. Obtaining a final decree does not automatically divide properties. A couple must spend time working on a plan or succumb to the court's final decision.
Dividing assets can always be problematic in Ohio divorces. However, it may be even more challenging when one or both parties own cryptocurrency. Splitting digital currencies is complicated because it can be difficult to determine how much they are worth at any given time. The value of a digital coin may fluctuate rapidly over short periods of time.
As many parents in Ohio know, maintaining a relationship with their kids after a divorce is no easy feat, especially if the divorce itself was contentious. As a result, parents should exert extra effort to bridge the gap and reach out to their kids in any way they can. Thanks to the wonders of social media and texting, parents today have a plethora of resources at their disposal to connect with their children.