Studies have shown that the younger a person marries, the more likely it
is the marriage ends in
divorce. According to the National Center for Health Statistics, 60% of marriages
for couples between the ages of 20 and 25 end in divorce. In Florida,
many spouses who divorce in their 20’s believe an uncontested divorce
would be the most economical and simple option, as long as there are no
children involved and both parties have a small amount of assets and debt.
However, the following issues are experienced with divorcing couples in
- More debt than you expect. While individuals in their 20’s typically have less debt than older
Americans, the debt to income ratio may be substantially worse for young
adults. Their debt may include student loans, credit card loans, car loans,
and mortgages. They may also have more debts than assets, making it difficult
to make the payments if they do not possess sufficient, independent income.
If young adults attempt to handle their divorce on their own, it may result
in mishandling debt division and more financial issues in the future.
- Complications with real estate. It has been more common for people in their 20’s to purchase homes.
Doing so includes a mortgage and long term maintenance costs. Having to
deal with the equity and lead to the possibility of debt in the property
to be divided unfairly between each party. Attempting to sell the home
and pay off the mortgage can be difficult depending on the real estate
market and how far behind a couple is on their mortgage.
- Difficulties with child custody and child support. Young couples involved in divorce generally mishandle
child custody and
child support issues. Children involved in these type of divorces are usually very young,
requiring more attention regarding how visitation is rewarded. As the
child gets older, more problems may arise which may need modifications
to the original court orders, which requires a significant amount of money.
- Social media usage. Individuals in their 20’s tend to be heavily involved in social
media, essentially creating a permanent record of their thoughts and feelings
which may be uncovered during divorce proceedings. Having a large amount
of content online can cause harm to an individual in terms of a divorce.