When facing the financial strain of a divorce, accepting money from family might seem like a helpful solution. However, this can be risky, especially in a community property state like California. Knowing about the possible hazards can prevent divorce and marital property complications if you take the money your parents offer. How is accepting the money risky? In community property …
Is a private judge worth the money?
All divorces have the potential for complications, but the stakes can rise exponentially when public profiles and substantial assets are involved. If you’re trying to navigate a high-profile, high-asset divorce, opting for a private judge can be worth every penny that they cost. Here’s why: There is enhanced confidentiality One of the most compelling reasons to hire a private judge …
Points to remember when divorcing a narcissist
Going through a divorce can often be a stressful process, even if things between you and your ex are amicable. If you’re one of the people who has the unfortunate experience of divorcing a narcissist, the situation is even more complex. A person who’s a narcissist is selfish. They’re unable to think about anyone else and live in a world …
Reasons to time your high-asset divorce well
Most people do not think much about the timing of their divorce. Once they decide they want out of the marriage, they tend to want to get it over and done with as quickly as possible. Yet timing things wrong could prove incredibly costly if you are wealthy. Here are some of the things to think about: The tax year …
Why birdnesting may not be a good idea
Co-parenting after divorce forms an important foundation for the well-being and stability of the children involved. One of the co-parenting plans that parents may choose is birdnesting, where parents take turns living in the family home with the children while the other parent resides elsewhere. While this strategy may initially seem beneficial in maintaining stability and minimizing disruption for the …
TRICARE and divorce: What military spouses need to know
If you’re married to a servicemember, it’s important to know which military-related benefits can continue once your divorce is final and which will end. This can help you take stock of what you’ll need to be on solid financial ground as you begin life as a single person again. One of those benefits is health insurance. You’re likely covered under …
Can you stop paying child support if you lose your job?
You and your spouse are both employed when you decide to get a divorce. However, due to the specifics of the divorce – such as how parenting time is allocated or if there is a major discrepancy in your earnings – you are ordered to pay child support. You have a fairly good job so the payments are affordable for …
Are millionaires less likely to get divorced?
When couples feel financial stress, it increases the odds of divorce. This is part of the reason that losing a job can make it more likely that a marriage will end. Not having an income, or seeing a significant reduction in income, puts financial stress on the couple. Conversely, this may lead people to believe that the very wealthy have …
High-asset divorces can be complicated
California is a community property state, which means that spouses who are divorcing generally share equal ownership interests in any assets acquired during the marriage. This approach covers both material and immaterial assets, including bonds and stocks owned by more affluent couples. In a high-asset divorce case, the assets that are part of a marital household are typically worth several …
3 ways that money can contribute to a divorce
So much depends on money that it is no surprise that it can affect a marriage. And that often the effect is negative and can result in a divorce. Here are some reasons money could lead to a divorce: Spouses hold different attitudes toward money Some people like saving every last cent. Others have much more difficulty doing this as …