If you face divorce and believe that the property division negotiation may include spousal support, it is important to understand the factors that a court may look at to determine fair terms. Spousal support may differ significantly from couple to couple, and is not generally an area of the negotiator that a court allows a couple to completely dictate on their own, although a court may consider spousal support terms that a couple negotiates together.
Every couple who chooses to get married should at least consider a prenuptial agreement, for their own sakes and for the sake of their marriage. While many couples still think of prenuptial agreements as something for those remarrying or dealing with significant resources (and they certainly are), the protections that a prenuptial agreement offers may prove invaluable to any couple, no matter who young they are or how few resources they currently possess.
Under the new tax laws recently passed in congress, couples who choose to divorce in 2018 could see major changes that affect multiple areas of a divorce negotiation. Most notably, divorces that involve some form of spousal support must now contend with new tax obligations for the paying spouse. To make matters more complicated, these changes take affect on January 1, 2019, meaning that divorces completed within 2018 may favor one party differently than those completed after these rules activate.
If you face divorce while both you and your spouse own an interest in a business, you may worry that you have no option but to sell the business and start over after the dust settles. Truthfully, this is an approach that many business owners choose, depending on the size and complexity of the business and the others effects, such as employees or vendors.
It's an oft-cited fact that roughly half of all marriages end in divorce. There's nothing wrong with acknowledging that reality - and preparing for its possibility - by utilizing a prenuptial agreement. In fact, prenups can set the stage for a stronger relationship by encouraging honesty, full disclosure, thoughtful planning and an awareness of what's at stake.