One of the biggest worries of any married couple comes down to money. It seems that it is usually the lack of money that causes frustration and fights in a marriage. But you may be surprised to learn that there is new evidence that being financial secure and having personal prosperity may also be bad for a marriage.
Former NBA star talks about high-net worth child support issues
Retired NBA star Matt Barnes has been entangled in a bitter custody battle with his ex. They are co-parents of twin boys, and Barnes recently celebrated a court victory that gave him sole physical and legal custody of his children. Like many celebrities, Barnes has been posting pictures of himself and his sons on Instagram; however, he also added some disparaging remarks about women regarding high-net worth child support situations. California parents facing similar problems may relate to this situation.
Barnes spoke in a self-made video, saying it doesn't take tens of thousands of dollars to raise children. Those who have been following the former basketball star's litigation situation may assume his remarks were covertly directed toward the mother of his two boys. He went on to say that many women exploit their children by using them in child support litigation to get money they then spend on their own luxurious lifestyles.
How do you know if your spouse is hiding assets before a divorce?
If you are going through a divorce, you may be feeling that the relationship you are having with your spouse has become confrontational. When this happens, it does not always mean it will manifest in anger or aggressive behavior. But what can happen is they may get a sense of winning the divorce and maybe even taking control of property they believe is more entitled to them instead of sharing. This can happen even more so in marriages that are wealthier and include high assets.
Are you headed for high-net worth divorce?
No one can predict which California marriages will last a lifetime and which will not. A recent study, however, suggests that wealthy people might be more likely to end their marriages in court than those of lesser means. High-net worth divorce is often complex, so if that's true, spouses who are considering filing divorce papers may want to act alongside experienced legal support.
Research shows that money is a significant factor toward stress. It also seems to be a causal factor in many divorce situations. If spouses disagree about finances and are unable to resolve their differences, it can definitely put a lot of strain on their relationship.
How to determine best course of action in child custody cases
Many California spouses wind up battling out high-net worth divorce issues in court when they determine their marriages are no longer sustainable. Things can get quite complicated, especially for those who also disagree on child custody matters. If you're in a situation like this, you'll want to take several steps to protect your parental rights as well as your children's best interests.
If you and your ex disagree about where or with whom your children should live or other issues regarding their post-divorce care and lifestyle, a judge will make the decisions for you. State laws vary and each state has its own guidelines; however, most judges typically consider similar factors when handing down child custody rulings. Matters of importance include which parent was the primary caretaker of the children during marriage, whether either parent should be considered a detriment to the children (as in situations where a substance abuse problem exists) and which parent's schedule makes it most possible to be present and available to the children.
High net worth property division problems for political candidate
Many California married couples are property owners. In fact, some spouses invest in multiple real estate endeavors during marriage, which can create complications regarding high net worth property division if they later divorce. A political candidate in another state understands this all too well as she is currently facing numerous legal and financial problems related to her divorce.
While running an aggressive campaign for a congressional seat, the candidate has also been dealing with the fall-out of her divorce that was settled eight years ago. One of her main concerns pertains to a foreclosure. It seems she had her name removed from the deed to one of her many homes when she and husband divorced but her name remained on the mortgage loan, which, she says, her husband had agreed to pay off as part of their settlement.
New tax law makes higher earning spouses rush to divorce
Divorce can be a financially complicated process that requires a significant amount of time from both parties. There are multiple steps to go through with California families no matter if they try to handle it in mediation or the courtroom. As tedious and emotionally draining as it can be, the spouses must pay close attention to ensure that they get everything they need out of the deal.
However, the new Tax Cuts and Jobs Act is causing some upcoming divorcees to panic. It dramatically affects how alimony payments to the lower-earning spouse work, and the Act is doing no favors for the higher-earning spouse. It is important for Californians to understand how this new law could impact the proceedings and how they should approach the matter.
Why is the divorce rate for baby boomers increasing?
Living with a spouse with whom you are no longer in love can be an exhausting and painful emotional challenge. Enduring years of an unhappy marriage can even feel unbearable. Some couples choose to divorce after a few short months of marriage; other people remain married for decades before parting.
Divorce can occur at any age, including past 50. In fact, the divorce rate among U.S. adults past the age of 50 has doubled since the 90s, and will likely continue to increase. So, why are more older couples, many of whom have been married for more than half their lives, choosing to split?
