Many couples generally understand that when they divorce both their assets and their debts are divided equitably between them. Equity is not the same as equality; it is more related to fairness, which means that you may be asked to pay a debt that your spouse is not able to, because it will cause you less hardship. However, there are certain types of debt that must be handled in more specific ways, and it is important to understand what those may be.
Divorcing couples who have a high net worth often expect a long, drawn-out, contentious battle. Thankfully, divorce does not have to be this way. In fact, many couples find they can resolve matters outside of court, with less stress and cost. The key is knowing if and when you should settle. Perhaps even more important is knowing when not to settle your divorce case. The following information explains further.
Divorce is rarely an easy or simple decision. In fact, couples may spend months or years trying to determine if divorce is the correct path. If you are considering divorce but feel stuck in the decision-making process, the following considerations may help you decide if the marriage is worth salvaging, or if it may be better to let the relationship go. You will also learn some tips for navigating the pre-divorce process, including where to turn for help.
Studies show that retiring couples are divorcing at an unprecedented rate – one that has doubled in just the last couple of decades. In many ways, it could be considered a positive thing. It suggests aging couples are living longer and have more financial confidence than they once did, and that gives them the power to make decisions by looking at their quality of life. They do not have to feel pressured to maintain the status quo. However, there are still some important factors to consider before pursuing divorce. The following explains further.