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.
California is a community property state, which can be beneficial during a divorce. Essentially, this means that both partners in a marriage are half owners of all assets accrued during the marriage, no matter whose income paid for what.
No matter what rom-coms or romance novels may tell us, we know that maintaining a marriage is hard work. And every couple goes through periods that are especially difficult. If you are currently going through a rough patch, it is possible that with time and a cooperative effort, you and your spouse will get back on track.
All those years ago, when you and your spouse started your business together, you had no way of knowing what the future would hold. Time passed and your business grew. But unfortunately, your relationship also changed and now you are facing a divorce. Divorce for any couple is complicated, but especially so for couples who are also business partners.
While it may be in your best interests to get a divorce, that does not make the ordeal any less painful. It is very easy and perfectly normal to feel alone and vulnerable when ending a marriage. There are so many worries that can occupy your mind. You may have noticed that long-time friends are starting to keep their distance and seem to be siding with your soon-to-be ex-spouse. Perhaps even your children have expressed anger in your direction.
Even if it provides your best opportunity for a happier future, a divorce can leave you feeling emotionally drained and perhaps even a bit insecure. After all, the path you believed your life was on has taken a serious detour. And as you proceed through the divorce process, there are myriad potential conflicts that can tax both your time and your energies.
You know that African-inspired facemask collection you bought on a whim from an exotic art gallery in London ten years ago for $5,000? Well, now that you're getting a divorce, your soon-to-be ex wants a piece of it. The problem is, your appraiser says it's worth $25,000 and her appraiser says it's worth $2,500.