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Even Decades-Long Marriages Not Safe from Divorce

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Older couple sitting on a benchA popular, old adage says that if your marriage lasts five years, you don’t have to worry about divorce.

Like many people, you may be surprised to hear that friends or family members are divorcing after decades of marriage.

Unfortunately, no marriage—regardless of how long it has lasted—is immune from the risk of divorce. Some problems, like the infidelity of a spouse, can arise at any time, threatening the relationship. Other problems occur precisely because a couple has been married for years.  [Read more…]

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Can the IRS’s Innocent Spouse Relief Save You from Paying for Your Ex’s Mistakes?

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Tax Return Paperwork When married, it is nearly always financially advantageous to file a joint tax return. However, what was once a benefit can become a disaster if you divorce and are later audited.

When you and your spouse file jointly, each of you becomes individually liable for the full amount of any taxes due, including interest and penalties.

Unfortunately, this means that you may be held responsible for the full amount of any unpaid taxes even if your spouse earned all of the income and claimed improper deductions or made other errors on your joint income tax return. According to the IRS, this is the case “even if a divorce decree states that a former spouse will be responsible for any amounts due on previously filed joint returns.” [Read more…]

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“In Sickness and in Health, ’Til Death Do Us Part” Isn’t Quite True

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woman getting a check up by a doctorWhen you got married, you and your spouse promised to love and support each other for the rest of your lives, for better or worse, for richer or poorer, and in sickness and health.

Unfortunately, however, you might now be finding that your spouse isn’t holding true to his vows.

A recent article in WebMD reported, “The marital vows to stay true ‘in sickness and in health’ seem to apply more to wives than husbands when one of the spouses becomes seriously ill, according to novel new research.’”

The research found that the risk of divorce increases when the wife—but not the husband—experiences a health crisis, whether it is cancer, heart problems, lung disease, or stroke.

About 50 percent of the marriages in which the wives were seriously ill ended in divorce. [Read more…]

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