The unprecedented wealth divided between the couple in the Bezos divorce has led those in the legal community to refer to the split as “the Godzilla of all divorces.” Information made public by the couple shows the divorce of the multi-billionaire Amazon founder will likely result in the transfer of an almost $40 billion stake in the massive online retail company.
The cost of divorce
A number of factors impact the cost of divorce. A relatively young couple will generally have a less expensive divorce compared to an older couple while an amicable split generally results in a lower cost compared to a contentious divorce.
Study: Is it more expensive to divorce in middle age?
Article after article is bringing attention to the fact that divorce amongst those over the age of 50 is on the rise. The trend has even got its own catch phrase: “gray divorce.” Research shows the divorce rate within this age group has doubled throughout the country in the last thirty years. Now researchers are asking another question: is it more expensive?
What happens if your ex wins the lottery or other windfall?
A divorcing couple recently asked an arbitrator to answer a difficult question: what happens when a husband wins the lottery while going through a divorce with his wife?
The case involved a Michigan couple. The husband separated from his wife for approximately two years when he won the lottery — and he won big. His total winnings were $80 million. After taxes and other fees, financial predictions estimated he would go home with approximately $38,873,628.00.
Study finds divorce rates increase over summer months
Summer is a time to relax and catch up on family time. Unfortunately, for couples that find themselves struggling with their marriage, it can also be a time that highlights and even exacerbates marital discord.
Those who find themselves frustrated that summer months bring marital frustration are not alone. A recent study by the American Sociological Association found divorce rates spike at two times throughout the year: the end of summer and with the new year.
Father’s Day after divorce: Tips to bond with your child
The upcoming Father’s Day celebrations provides an opportunity to discuss some of the tools we, as parents, can use to proactively build our relationship with our children. Divorce changes our roles as parents, but we can take steps to better ensure the change is positive.
IRS ramps up review of divorce
The Internal Revenue Service (IRS) is not a government agency that people are excited to deal with. Add this agency to the already difficult emotional landscape that comes with the parties navigating a divorce and things could get interesting.
What happens if you need to change your child custody order?
Maybe one of you got a new job, has started a new relationship or simply wants to move to be closer to family. Whatever the reason, parents may feel the need to change a child custody arrangement.
If you find yourself in this situation, you are not alone. Life changes, the courts understand. However, in an effort to better ensure the children’s best interests are met the court does have certain requirements before it will allow parents to change child custody orders. The process will vary depending on the state, because family law is generally governed by state laws. This piece will focus on the process for those who are attempting to make the change in Michigan. It is also important to note that the current child custody agreement is in effect until a judge signs a modification.
This tax planning strategy could help with spousal support
You likely noticed how difficult tax season was this year. News update after update discussed unforeseen problems and unexpected tax obligations. The reason for the surprises: a new tax law.
The Tax Cuts and Jobs Act (TCJA) went into effect on the 2018 tax returns. As a result, many taxpayers were scrambling to make sure their tax returns were in line with the new law.
Three steps to take after the divorce is final
Even an amicable divorce is an upheaval in one’s personal life. Once the negotiations and court dates are complete, both parties can generally put the legal side of things behind them and get on with their lives.
