For many, getting a divorce is emotionally draining and exhausting. Not only is your marriage ending, but you may have to split time with your children, and you can lose out on assets that were important to you. However, it’s necessary to consider the benefits of this process. Many are under the assumption that divorce is only unfavorable, which is far from the truth. The following blog explores how divorce attorneys in Nassau County can help you reap the advantages of divorce.
What Are the Advantages of Divorce?
When going through a divorce, there is most likely a feeling of relief, especially if you are unhappy in your marriage. However, there are several critical financial advantages you should consider.
One of the most important things you should understand is that you can obtain a financial fresh start after your divorce. Though you may have to relinquish certain investments, you may find you can reset your goals and decide how you want to split assets since you no longer have to share your income with another person. As such, you have the opportunity to save money or change your lifestyle if you so choose.
You should also understand that you can get certain tax benefits. If you and your spouse met the income threshold when filing jointly, you must know you will incur a higher income tax. However, if you file separately, you will save a considerable amount of money when filing your taxes.
Finally, you’ll discover that a divorce allows you to reap some of your spouse’s social security benefits. If you are 62, unmarried, and had been married to your ex-spouse for at least ten years, you can collect a portion of their social security. It is crucial to understand that this does not take away the funds they are entitled to. In fact, they won’t even know you filed on their behalf.
How Can a New York Attorney Help Me?
If you’re going through a divorce, it’s essential to understand that enlisting the assistance of an attorney is in your best interest. Unfortunately, there are many complexities that can influence the outcome of your divorce. As such, letting a skilled and knowledgeable lawyer handle your case is recommended.
If you decide to try navigating a divorce on your own, you may find that you can make errors that hurt you and your finances in the long run.
At Barrows Levy, our dedicated legal team understands the complexities you can endure when going through a divorce. As such, we will do everything possible to help you receive the financial benefits you are entitled to when going through a divorce. Keep reading to learn more about what you must know.