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September 2017 Archives

What justifies reducing spousal support?

Spousal support is calculated based on factors like your income and expenses at the time of your divorce, as well as your former spouse's needs. If some of these factors change after the divorce finalizes, a spousal support order may pose an undue burden on the paying spouse, or may become entirely unnecessary. If your circumstances or those of your ex-spouse have changed since your divorce finalized, then you may have grounds to modify your spousal support obligations.

Avoid emotional choices during a complex divorce

Divorce is never pleasant, even if it is relieving. However, when the marriage involves significant assets, many spouses suddenly become unhealthy, unreasonable versions of themselves, making choices that they might not otherwise consider. If you face a high-asset divorce, you should be careful to get all the emotional and professional guidance you need to keep yourself healthy and avoid compromising decisions that could cost you immensely in the long run.

Who gets the ornaments? Understanding equitable distribution

If it looks like a breakup with your spouse is on the horizon, you will likely start to think of how to separate your life from your spouse and move on. It is tempting to think that you can split everything half and half, right down the middle, but soon you will realize that the half and half notion is tricky, if not impossible. Besides, some things you own are yours alone -- do you have to share them?

Use prenuptial agreements to create opportunity

Prenuptial agreements can be very useful for helping a couple achieve goals together inside of a marriage -- rather than weakening the strength of the relationship. When constructed with love and care, a strong prenuptial agreement can provide a framework for each spouse to better themselves through the marriage.

Beware lingering credit between divorcing spouses

When divorce comes knocking on the door of a couple with complex assets, it is often a monumental feat to separate out these individuals' financial lives. Marital property applies to both assets and liabilities, and most couples with significant assets also carry complicated debts. If you're facing a divorce and concerned about how you will address your intricately entwined financial lives, you should consider enlisting the guidance of an attorney with experience handling complex assets. Careful assistance can help you navigate this minefield and protect yourself from the dangers of having your credit remain tied to a former spouse.