More Women Are Paying Alimony Today
Things have changed drastically in the workplace with an increasing number of women being seen in high-level positions in the corporate sector today. In fact, according to statistics, women are found to be the top earning members in about one-third of the marriages.
As a massive number of marriages are found to end in a divorce today, this change has led to another key transformation. There is an emerging, growing and new trend of many women paying for their child support or alimony to their former husbands. The meaning of equal rights is that an ex-husband may demand alimony if his wife is the family’s major breadwinner.
About 56 percent of the divorce attorneys in the US have witnessed a surge in the number of moms paying for child support, especially in the past 3 years. 47 percent of the divorce lawyers observed an increase in the number of females paying alimony to their former spouses. The American Academy of Matrimonial Lawyers came up with these interesting statistics,
If one spouse earns significantly more than the other spouse, alimony serves the purpose of equalizing both the spouses’ lifestyle when their marriage gets dissolved. The original aim of alimony was to safeguard the interests of that spouse who was not the main bread winner of the family, typically the wife. Today, alimony is much more gender-neutral and it’s the disparity of income between the spouses that determines spousal support.
What is the significance of this for those women with rising careers?
Though planning for a divorce goes against the principle of a happy marriage, you need to understand the effect of your salary increase. It is applicable for different kinds of situations ranging from taxes to retirement. Hence proper financial planning should start while taking into account co-mingling assets.
When is a prenuptial agreement a handy tool?
In a marriage where both the parties and one of them have acquired a great desk of assets, it is a good idea to have a prenuptial agreement so that there is no unpleasantness between the couple in the future. When a couple consults a reputable divorce attorney and a financial advisor prior to exchanging their vows, it helps in understanding what should be included in their prenuptial agreement.
When you create a financial inventory and a balance sheet up front, there could be constructive discussions between both the parties so that both the parties are aware what liabilities and assets are there in the beginning. Such acknowledge may come handy for both the parties that can be used for setting their future shared financial goals.
Getting divorced in California can be complicated. Download our free eBook, 18 Important Things to Know About California Divorce to educate yourself on the process.
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