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Posts tagged "High asset divorce"

Concerns facing high-wage earners in a marriage

It is generally the case that men have the higher income in a marriage. However, there is a trend that shows women are sometimes equal to or passing their husband's earning power in approximately 16 percent of households. Such changing facts are creating new property division issues.If an upcoming marriage is between two high-wage earners, it might be wise to create a prenuptial agreement that spells out exactly which spouse owns certain property and assets. If the couple is already married, a postnuptial agreement may be signed as well. While some people might view this as insulting, experts say couples should take it as a sign of mutual regard between the couple. Should the marriage end in divorce, everyone involved was done a financial service.

Low-profile divorce for high-profile singer

When a high-profile couple files for divorce, the press has a field day reporting on every aspect of the couple's relationship and the circumstances leading to the breakup. In the case of music legend George Clinton, few members of the press and the public were even aware that he was married. According to the divorce papers filed in Florida, the marriage between George and Stephanie Clinton lasted for 22 years, but they have been separated for a long time. The grounds cited for the divorce is that the marriage is irrevocably broken.

Divorce and Social Security

When couples are in a dispute regarding property division, they may not be in agreement regarding real estate they own, money and liquid assets. However, many couples may not be aware that they may be entitled to future benefits, including a portion of retirement accounts and Social Security benefits. According to a spokesman of the Social Security Administration's press office, there are some situations in which a spouse can receive benefits from a spouse's Social Security benefits whom he or she divorced. In order to receive benefits, the marriage must have lasted 10 years or more. Additionally, the person must be unmarried and not be entitled to a higher amount of benefits based on his or her own employment record. The person must be at least 62 years old before he or she can collect these benefits. Furthermore, the ex-spouse must be eligible to receive their own Social Security benefits even if he or she has not yet applied for them. However, if the ex-spouse is not yet receiving his benefits, the couple must have been divorced for at least two years before the other spouse can collect on the benefits.

Kramer vs. Kramer or Spy vs. Spy?

The process of catching a cheating spouse isn't what it used to be. The era of the private detective with a camera staking out a cheating partner has given way to an arsenal of electronic spy gear that consumers can purchase and use to snoop on their spouse. High technology is being used to detect infidelity, monitor child visitation, and generally get the goods on the other partner for later use in court. When lots of money is at stake in settlement negotiations, investing a few thousand dollars in gadgets can be money well spent.