Some couples have unequal responsibilities when it comes to their finances. One spouse may be the high earner and make the investing decisions where the other is the lower earner and pays the bills. Clearly, the spouse who makes the investment decisions has more control and knowledge of the balance sheet and net worth of the household. However, the other spouse can empower himself/herself with knowledge regarding income and investments by obtaining and reviewing earnings statements, bank and brokerage statements, and tax returns. Even so, there are times during divorce, when a spouse may try to deceive the other spouse.
In this article, the author provides some tips on how to find hidden assets.
A job loss during divorce may make negotiations for spousal or child support more complicated but not insurmountable. If you or your spouse lose a job, the divorce agreement can dictate a formula or percentage that will be used to compute the support payments after re-employment.
This article provides tips and explains issues to consider when dealing with job loss during divorce.
During divorce, parents worry about the effects on children, both emotional and financial. Since financial resources will be divided between two households, children’s academic tutoring or extra-curricular activities may have to be cut back. It turns out that for white families, a drop in family income has a negative effect on the educational outcomes for children, i.e. going to college or finishing college. More information can be found in this article.