When the public thinks about income inequality between spouses, they often envision a scenario where a husband is the primary income earner while a wife brings significantly less to the table. However, the last half-century has changed a great deal about why people marry and when, leading to a surge in recent years of couples where the wife, and not the husband, is the primary breadwinner. This creates a kind of income inequality in a marriage that goes against many stereotypes that still exist in public opinion, and may create tensions in the relationship.
When a couple faces divorce in any part of the country, it is usually a very difficult issue to decide who keeps the house. However, in Orange County, which boasst famously high real estate prices, a marital home is exceptionally valuable. In many cases, the spouse who lets go of the home is letting go of homeownership entirely for the foreseeable future because of difficulty involved in qualifying for a mortgage.
The end of a marriage is a sad event for many people. Even if you are the person who filed for the divorce, you will likely feel some emotions when everything is said and done. In between the filing and the finalization, it is easy to lose your focus and think about what you can do to make life difficult for your ex. Giving in to this temptation might prove to be more harmful to you than you expected.
Ending your marriage isn't something that is easy to do. You have to take the time to plan your steps so that you don't make mistakes that could cost you in the long run. We understand that this isn't something that you are taking lightly. We are here to help you plan what you will do and consider all of the options that you have.
Millennials, those folks aged 18-35, are definitely different than previous generations.
The end of your marriage is something that might come as a shock. Even if you are the one who filed for divorce, the deterioration that led to the filing might have been unforeseen. If you are facing a surprise divorce, you need to make sure that you know what options you have.
If you're a person of considerable means, then you should always use a prenuptial agreement when getting married. Of course, as some heavy hitters in Silicon Valley can attest, if your assets are significant enough, your spouse may choose to challenge the agreement in a divorce. While this is very unlikely to succeed, it is technically possible. California tends to side with a prenuptial agreement when it is challenged, but there are some exceptions.
Imagine spending years building up a successful consulting business. You have spent countless hours, from the time you started your company until now, ensuring its profitability. You sacrificed other business opportunities, as well as time with your friends and family, to make your dream come true. Now, imagine all you worked for hanging by a thread, its continuation dependent of the outcome of your divorce.
When a couple decides to divorce, they may not always realize just how complex a process it can be. The law views a marriage much in the same way that it views a business relationship, and there are some very specific legal hoops that must be jumped through to successfully file for a divorce that the court will approve. One of the areas that is commonly misunderstood is the concept of spousal support after a divorce.
Divorce can balloon into several different but related problems, most commonly credit issues, and bankruptcy. These issues are complex but manageable with quick and decisive action. This post will continue with the final three tips on ways to protect your credit during a divorce.