One of the big questions divorcing couples face is whether to sell the family home. There is no right or wrong answer, as it depends on many circumstances. However, the conventional wisdom is often to sell and split the proceeds.
The idea of one spouse paying another a certain amount of money to support them so that they could continue to live the same lifestyle post-divorce that they did while married is a concept that originated in England. Although the idea of alimony or spousal support was brought over by settlers centuries ago, it's still something that's alive and well here in the United States today.
As a business owner, you may have heard a lot about prenuptial agreements and how it is important for business owners to get them. However, you may have reservations about sitting down with the person you are going to marry and discussing something that is decidedly not romantic. You are afraid it will make your partner question whether you really trust him or her.
For umarried fathers, it's necessary for them to establish paternity before before they can request custody or be ordered to pay child support. For mothers, it's established at birth.
The Center for Retirement Research at Boston College released a report late last month. Its researchers concluded that it's becoming increasingly difficult for divorcing spouses to maintain their retirement accounts.