Navigating different priorities is something every successful marriage should do, but it is not always the case. Couples’ disagreements over finances, in particular, are one of the most common reasons for divorce. This can be a general attitude where one spouse prefers to spend money as fast as the family makes it (or more quickly), while the other wants to save for retirement, the kid's college fund, or other long-term goals. As long as the debt is sustainable and there is no deceit, things may work out.
Business owners often regard their company almost as a child. It must indeed be nurtured, and the staff must be taken care of. Still, filing for divorce often forces owners to also consider who should maintain primary “custody” of that business that may qualify as community property. This prompts both sides to take a clear-eyed look at what the business is worth. This can be done with the idea of using that valued amount as part of the equation for dividing community or marital assets.
The divorce of Ed and Marie Bosarge makes state and national headlines for a good reason. The couple married in 1989 and now is in a drawn-out battle. Experts believe that Ed moved much of estimated billions in cash and assets into secretive ever-changing trusts set up in South Dakota (the state has become a haven for secret trusts set up by people from out of state) as well as complex ownership structures using limited liability companies.
Texas is a “no-fault” state when it comes to divorce. Many believe this means that their bad behavior will not affect the outcome of the divorce settlement, particularly concerning dividing assets, support or custody. However, there are specific examples of marital misconduct that can affect the outcome.
The most challenging part of announcing one’s divorce maybe breaking the news to the children. It will take patience, understanding and empathy as they process the news. Conversely, the soon-to-be-divorced husband or wife should ideally get some of that patience, understanding and empathy from friends, adult loved ones or co-workers and bosses. Unfortunately, this will sometimes not be forthcoming.
Some who go through the JOY of Divorce find the experience of negotiating a fair and equitable settlement to be unsatisfying. Claiming he had been "destroyed legally" in divorce court, David Ostrom of Iowa came up with a solution to divorce negotiations that seems more apt for medieval times or Game of Thrones.
The wedding and engagement rings are symbols for two people in love. After the couple has eventually filed for the JOY of Divorce, however, the rings can be more like a glaring reminders of bad choices and an unsuccessful union. Unless they are family heirlooms passed to one of the children, it is often in the best interests of the wife (or husband) to get a reasonable price if they plan to sell the rings, and it can also provide some much-needed closure.
It is often not in the best interests of couples to argue needlessly during the legal emancipation process ending in the JOY of Divorce. But regardless of how positive one spouse’s attitude is, the other may consciously or unconsciously make the process more stressful and complicated than it needs to be.
Couples choosing to file for legal emancipation through the JOY of Divorce face many difficult decisions during this process. Few will be more challenging than determining priorities that are worth fighting for when drafting an agreement or litigating in court.
There are many benefits to a collaborative divorce. However, some divorces will have sticking points like disputes over custody of the children, division of assets or spousal maintenance. There may be other mitigating factors involved that make litigation the best option.