ALSO READ: Why my mother-in-law wore a wedding dress on my big day A judge has ruled that men can be allowed sole custody of children, revoking a long-held view that only women are primary caregivers. High Court judge Joel Ngugi declared that it is a fallacy to imagine that men cannot be primary caregivers but can only be breadwinners. The ruling arose from a child custody battle between an estranged couple which parted ways after the man caught his wife in their matrimonial bed with their house boy. The man, named in court records as JKN, lost custody of [...]
Divorce can be especially difficult for parents still raising children. Your post-separation finances don't have to be. About 40% to 50% of married couples in the U.S. divorce, according to the American Psychological Association. While there are many changes when separating from your spouse, managing the finances for your shared children can be particularly intimidating. However, there are steps you can take to minimize the financial stress. "When you remove that from the equation, you can actually co-parent really well," said Tracey Duff, co-founder of Co-Parenting Crew, a community for people facing divorce and shared parenting. "It creates some peace [...]
When you and your spouse part ways, you need to be prepared for the price tag that goes along with the dissolution of a marriage. Wedding cake with angry married spouse figures on top of it. More Image source: Getty Images Nolo estimates the average cost of divorce at around $15,000 -- and that’s just for the legal fees you must pay to formally end your union. After divorce, you may also have to give up some of your savings and property to your spouse and could end up ordered to pay alimony and child support. While divorce is expensive, the [...]
For many companies, litigation is a negative word, and for most it’s a last resort, only to be considered once all other options have been exhausted. Litigation is viewed in this way because it’s normally very expensive, and one of the reasons for this is because lawyers typically charge by the hour, regardless of the result. In addition, litigation diverts the key resources of a company (whether that’s people, time or money), away from creating profit and growth for shareholders/owners. And finally, the law is complicated, justice systems around the world vary enormously and litigation can be a long and [...]
If your image of divorce is a bloody battlefield of husband and wife, expensive lawyers, frosty court rooms and children being told to forget birthday and Christmas gifts for the next decade, a new style of Collaborative Practice may come as a surprise. As unlikely as it might seem when the focus is on people splitting up, ‘collaborative divorce’ has become an increasingly common way for couples to mutually agree a legal, financial and emotional arrangement for a separated or ‘parenting apart’ future.
The aim, reports Consensus Collaboration Scotland – the umbrella association for professionals and experts who employ [...]
A High Court judge has urged a rich Sheffield businessman and his wealthy estranged Austrian wife to agree a truce after being told how they had run up £1 million in lawyers' bills while fighting over less than £2 million. Mr Justice Holman said engineering firm boss, and Conservative Party donor, Sir Andrew Cook and interior designer Baroness Angelika Hirsch-Stronstorff had spent "very, very disproportionate" amounts on legal costs following the breakdown of a three-year marriage. He said they should try to reach an out-of-court settlement which was reasonably fair and put their fight over money "to bed". The judge [...]
While the number of marriages in South Africa drops each, year, the rate of divorce is sadly on the rise. In general, the financial implications of a divorce are devastating and often result in both partners having to significantly lower their standards of living post-divorce. With so many emotional, financial and logistical implications, the decision to divorce is seldom taken lightly. From a financial-planning perspective, there is much to consider when planning a divorce. 1.Understand your marital property regime The starting point of any divorce negotiation is to understand the marital property regime that you are married under. How you [...]