The decision to divorce is not an easy one. Those who are going through a divorce must take into consideration the psychological and financial impact of the split. When it comes to the financial impact, some things to keep in mind include:
Whether initiating or not, those who are in the midst of a divorce likely have many questions. One question to take into consideration: does the timing of my divorce matter?
Jeff Bezos, CEO of Amazon, is a business mogul. Those who aspire to become giants within the business world would benefit from lessons from this mastermind. Unfortunately, one of the most important lessons he may teach the public is through a mistake in his personal life.
Divorce rates spike after the holidays. This is true both after summer and winter breaks. Researchers point to many possible reasons for this increase. Perhaps the stress of the holidays with extended family and travel was the deciding factor. Others say couples may have wanted one last holiday or summer break as a family before moving forward with the divorce.
Child custody disagreements tend to peak between Thanksgiving and New Year’s Day. It is not uncommon for parents to feel a need to be with children and share traditions. This desire can collide with the reality of the agreed upon child custody arrangement. There are ways to avoid or navigate through these issues. Three potential options for resolution include:
Those who go through a divorce may have concerns the other party will attempt to hide assets. Although it sounds like a plot out of a Lifetime movie, such attempts are not uncommon. People can attempt to hide assets with third-parties or with use of false documents. A recent case provides a real-life example.
A prenuptial agreement protects assets in the event of a divorce. Couples that use this legal document trust the paperwork will serve its purpose. But do they always work? As recently discovered by one couple, there are situations when an individual can successfully challenge a prenuptial agreement.
When affluent couples divorce, there can be a lot of assumptions about the process. People often assume it will be contentious, lengthy and public, for instance. Of course, this is not always the case, but divorces where there is a lot of money at stake do tend to invite more complexity and attention.
Engagement rings symbolize a promise for a future together. Those who purchase this piece of jewelry often have to save for months and, in some cases, take out loans to cover the costs. But what happens to the ring if one party calls off the engagement? That is the question posed in a recent case filed in federal court in Washington D.C.