Is January the Right Time to File for Divorce?

January is often referred to as “Divorce Month” because many couples choose to file for divorce after the holidays. For some, the end of the holiday season brings clarity and a desire for a fresh start. For others, waiting until January simply makes financial or logistical sense. But is January the right time for you to begin the divorce process? Bosshard Parke is here to help explain why this timing is popular and what you should consider before filing.

Why Do Couples Wait Until After The Holidays To Divorce?

The decision to divorce is never easy, and many couples hold off until after the holidays for several reasons:

• Family Unity During the Holidays: Couples often want to keep the holiday season as normal as possible for their children or extended family before making such a significant life change.
• Emotional Readiness: The start of a new year feels like a natural time to make life changes.
• Practical Reasons: Many people prefer to avoid the stress of starting divorce proceedings during the busy holiday season. Waiting until January allows them to focus on their legal and financial futures without distractions.

Financial Advantages Of Filing For Divorce In January

Filing for divorce at the start of the year can also bring financial benefits:

1. Tax Considerations:
   • If you’re planning to divorce, it may make sense to file early in the year so you can focus on your financial separation in the same tax year.
   • January is also a good time to evaluate your marital finances after year-end financial statements arrive, making it easier to plan for asset division.
2. Financial Reset:
   • Divorce typically impacts household finances. Filing in January gives you time to budget and plan for the upcoming year.
3. Bonus or Income Timing:
   • For individuals who receive year-end bonuses or annual income distributions, January provides a clear picture of the couple’s finances, making it easier to ensure equitable distribution of assets.

Steps To Prepare To File For Divorce In January

If you’re considering filing for divorce, preparation is key to protecting your interests. Here’s what to do before you take the next step:

1. Evaluate Your Finances:
   • Gather financial documents, including bank statements, tax returns, and retirement account statements.
   • Understand your household budget and spending patterns.
2. Consider Child Custody and Support:
   • Think about custody arrangements that prioritize your children’s best interests.
   • Familiarize yourself with Wisconsin’s child support guidelines.
3. List Shared Assets and Debts:
   • Create a list of marital property and joint debts. This will be crucial when negotiating asset division.
4. Plan for Living Arrangements:
   • Determine where you and your spouse will live during the divorce process.
5. Seek Professional Advice:
   • Consulting a financial planner or divorce attorney can help you navigate complex issues such as maintenance (formerly known as alimony), child support, and asset division.

When To Consult A Divorce Attorney

Divorce can be an emotionally and legally complex process. Consulting an experienced divorce attorney early ensures that you:

• Understand Wisconsin’s divorce laws and how they apply to your situation.
• Receive guidance on asset division, child custody, and spousal support.
• Protect your rights and avoid costly mistakes.

At Bosshard Parke, our compassionate and experienced divorce attorneys are here to help you navigate the process with confidence. We’ll provide you with personalized legal advice tailored to your unique circumstances.

Is January The Right Time For You?

Ultimately, the timing of your divorce depends on your personal circumstances. While January offers practical and emotional advantages, it’s essential to evaluate your situation and take the necessary steps to protect yourself and your family. If you’re ready to file for divorce, move forward, or need guidance about the process, the team at Bosshard Parke is here to help.

Disclaimer: This blog post is for informational purposes only and does not constitute legal advice. For specific guidance on your situation, please consult an attorney at Bosshard Parke.