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Expert: Equality in Marriage Institute - 2/22/2006
Question Married 25 years.
Many years of staying together for the kids.
Money problems. Lived apart for one year.
Daughter has now married and moved on. son is in 11th grade and will be 18 in August.
My wife is still Canandian/ Green card. She would like to go back to Canada and my son may go to college there. Few assets. I would pay for sons school and continue to send agreed amount to wife after divorce.
Should we wait until my son is 18 years old in August rather that now?
Answer Dear Chris,
As you may know divorce costs you emotionally and financially, even with living apart for one year. Timing is ultimately up to you but here are some articles that may help you decide what you would like to do.
2.http://www.divorcesource.com/archives/divorce.shtml- several articles that may be helpful.
3. Divorcemag.com also has articles on the same topic.
In addition to considering your timing emotionally on your child(ren) and yourself you may also want to speak with your accountant or financial advisor regardign the timing. The IRS site, irs.gov has an online publication of Divorce and taxes that, I think it's publication 504, that you may want to look at.