Income is often discussed as if it is a straightforward matter that has only one of two approaches -- a regular salary or a paycheck based on worked hours. However, many people in California also earn additional income in the form of things like bonuses, commissions and added perks. This makes dealing with the topic of income during divorce somewhat more complicated.
For a long time, even mentioning a prenup seemed taboo. Recently however, people are starting to realize the practical advantages of such a premarital agreement. It offers spouses with valuable assets a chance to protect the property they’ve earned should a separation occur down the line. This could be stock options, retirement plans, luxury homes or other items of value.
Spousal support is a sensitive subject that many people feel very strongly about. Many people agree that alimony is important for spouses who earned less or left the workforce altogether. Others feel that alimony payments are too high or last for too long. In California, a new initiative could significantly change how judges handle this type of post-divorce support.
Ending a marriage is a complicated matter and can be time-consuming and involve significant emotional and financial commitments. Since divorce is often the culmination of marital distress over a period of time, the loss of time and emotional struggles may not seem like too much to deal with. However, during a high asset divorce, the financial side of things can quickly feel overwhelming.
Popular media likes to portray divorcing women in a single light. Women are often shown viciously going after ex-spouses for money, desperate to squeeze out every last nickel and dime for their own advantages. In reality, this is very rarely the case. When facing a high asset divorce, the average California woman just wants to be certain of her financial security.
Divorce is a difficult process for children. Aside from seeing their parents separate, some end up as pawns in ongoing custody disputes. Not only is a battle over child custody costly and time-consuming for parents, it can be a traumatizing experience for children. This is why many California parents prefer to create a parenting plan outside of court.
For some California couples, money may feel like a significant barrier to divorce. This does not always mean that a couple cannot afford to divorce, and indeed may even mean the exact opposite. In a high asset divorce, dividing complex assets and determining alimony payments can be daunting. Here are a few ways to approach the associated financial concerns of going through a divorce.