Divorce can bring a number of stressors into the lives of those who decide to split up, but these challenges can be mitigated by carefully going over the ins and outs of the situation and knowing which way forward is best. For example, someone who is facing hardships due to losing a job or a health problem may have a hard time paying their spousal support. However, they could be able to have their spousal support order modified, which would help them stay current and avoid penalties. If you are considering this route, it is essential to have a solid understanding of what to expect.
While there is never a great time to divorce, there are financial considerations that could mean finalizing your divorce before the end of the year may be in your best interests. After 2018, spousal maintenance, commonly known as alimony, will not be tax deductible.