A divorce will not only affect your lifestyle and standard of living, but also your ability to meet your financial obligations. The inherent problem with divorce is that most families go from a two-income household to a single-income household. In almost every case, someone’s lifestyle is directly proportionate to their income. This reduction in income is felt whether you make $20,000 a year or $200,000 a year. While some of your bills will also be reduced, many fixed costs will remain the same. For example, assume you have the following monthly bills before filing for divorce: $250 car payment $1100 mortgage...
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Asset determination and evaluation play and integral role in divorce proceedings for those considered to be of high net worth. You can be considered a high net worth individual if you are a celebrity, a billionaire, or just a successful local business owner . However, we should admit that there is a certain fascination in the world when it comes to high net worth divorces. Tabloid journalists, morning news shows and of course magazine publications are just a few who stand to benefit from the misfortune of a high profile and complex divorce. The amount of wealth within a relationship, as...
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