Divorcing young? What you need to consider
It is said that when it comes to love, age is just a number. However, age can prove to be a very important factor when love ends. For instance, let’s look a divorce. If you are divorcing at an older age, you are likely going to be battling many things that someone who is divorcing at 25 may not have to deal with.
This doesn’t mean divorce is any easier for young people. In fact, there are still many challenges you can face if you are getting divorced in your 20s or 30s.
Children will play a critical role in your divorce, if you have them. Many young people have not had children yet and that can be a great relief in regard to the divorce process. However, if you do have kids, chances are they are quite young and there will be a lot of planning involved. Will you both have to save for college? Where will the child live? Is your child at a state where it would be too difficult to exchange custody frequently?
Debt is another factor that plagues many young people. In fact, you and/or your spouse may have more debt than assets at this stage in your life. Even without debt, you still may not have many marital assets that have accumulated yet. However, this doesn’t change the fact that any marital assets you do have, as well as marital debt, will be eligible for distribution.
Young people can also struggle to adjust emotionally in ways that older people may not. As discussed by a young woman in this Huffington Post article, experiencing divorce at a young age can rattle an already-unstable foundation. At such a young age, you are still discovering yourself, and you might not know who you can trust and talk to; you can also feel judged by people who think you shouldn’t have gotten divorced (or married) so young.
Even if you don’t have kids, long-term careers or considerable assets, there is still a lot at stake if you are getting divorced. Failing to recognize this could prove to be a costly mistake. Rather than take the risk of starting your future on the wrong foot, it can be wise to consult an attorney if you are getting divorced.