By GNGF on October 28th, 2022 in
How Will I Support Myself After My Divorce? This is a question many potential divorcees do not want to confront, but secretly worry about. It is a particularly pressing question for a spouse who has spent a number of years as a homemaker or taking care of the children during their younger years. The good news is that there are ways the court looks out for spouses that may not be able to support themselves. The main way a spouse is support through a divorce case is an award of maintenance. This is a monthly payment from one spouse to another for their support. Another way is through awarding extra assets to the spouse with less ability to make a living. Child support can also contribute to living expenses after a divorce, as housing and utilities are included as things child support should be used for. That being said, it is always a great idea to start pursuing employment if possible, as soon as you aware a divorce might occur. Self-sufficiency always helps these situations as the court process can be unpredictable. So, if you are wondering how you will support yourself after a divorce, just remember there are options to consider.
How Do I File Taxes During my Divorce?
During a divorce, your tax status will stay the same until the divorce is finalized. The IRS determines your marital status for tax purposes based upon your marital status on December 31 of that tax year. For example, if your divorce is finalized on December 30 then you would file as single because you would no longer be married on December 31. However, if your divorce is still in progress on December 31, then you can file with your spouse as married or file as married filing separately.
What Happens To My Tax Refund During a Divorce?
If parties are still married at the end of the year and file their taxes jointly during the divorce, then in Missouri, all tax liabilities will be the joint responsibility of both spouses. Alternatively, if there is a refund, it will be joint marital property of the parties and is generally split between the parties or one party receives the refund and the other party is compensated with a different marital asset.
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