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April 2013 Archives

Divorcing your husband when you earn more than him

Traditionally, the husband has the greater income in a marriage. Usually, it is the wife who negotiates for alimony in divorce proceedings, and there are many more ex-husbands paying spousal support than ex-wives. However, according to USA Today, the gap in income between husbands and wives is straying from the traditional trend. A study revealed that in dual-income family households from 2006 to 2011, it is becoming less rare for the wife's income to exceed that of her husband. It is not prevalent for the wife's income to be greater, by no means, but it is not unheard of anymore. For those women who do earn more than their husbands, there are a few key factors they must keep in mind if they are thinking about a divorce.

Couples thinking about a divorce should put children first

It is not uncommon for Colorado residents in unhappy marriages to stay together out of concern for their children. However, it could be that staying together instead of getting a divorce ends up being worse for children involved. While couples may want positive role models for their children, a couple that is always arguing may end up providing their children with poor role models.This is not to say that a couple should not attempt to work past their differences if they have children. That said, if a man and woman cannot get past their problems, they could end up creating an uncomfortable environment for their children, especially if they are fighting all the time. Children in this situation may end up believing that all marriages are filled with arguments and misery.

Gift and income tax issues for the unmarried

The debate in favor of gay marriage places some emphasis on financial rights, such as taxation issues. However, although a joint-tax return with a designation of "married" is important, it stands in stark contrast to what happens when married couples part ways. During a divorce, they can exchange money without any tax implications whatsoever. The same can't be said for same-sex partners who may not have the same rights as married couples. The American tax code does not tax either spouse with either an income or a gift tax when a marriage ends. However, when an unmarried couple separates, the whole amount is taxed. Those who support the Defense of Marriage Act argue that those laws apply to any heterosexual or gay unmarried couple that splits.

U.S. Supreme Court ruling could impact Colorado laws

The U.S. Supreme Court's ruling on a California gay marriage ban could seriously impact recently passed Colorado legislation that permits same-sex couples the legal right to form civil unions. The highest court in the land heard arguments on March 25 and 26 from supporters and opponents of Proposition 8 in California that prohibits the marriage of same-sex partners. A Colorado law has banned gay marriage since 2006 even as DOMA stops the federal government from recognizing gay marriage. The state legislature navigated around the issue by voting in civil unions instead. While they admit that it is not the same as full acceptance of same-sex marriage, it gives same-sex couples some legal protection. However, the Supreme Court could decide that Colorado and eight other states that make a distinction between civil unions and marriage have unfair laws.

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