After a year and half after Kim Kardashian filed for divorce, her marriage with Kris Humphries finally ended in a Los Angeles Courtroom last week. The couple was only married for 72 days, but it took 20 months from the time she filed to end their marriage. The couple had a prenup, but Kris felt Kim’s decision to leave him after their extravagant TV wedding constituted fraud. So, Kris asked for an annulment which essentially means the court declares there never was a marriage. Annulments typically involve short marriages and fraud. The couple reached a settlement in April and avoided [...]
Archive for the ‘Divorce’ Category
When couples are married, they typically plan for retirement together. However, when couples divorce, they divide up their “marital assets.” These assets often include retirement accounts created or added to during the marriage. Retirement accounts are often the largest part of the marital estate. Retirement funds added during a marriage are typically treated as marital property. However, if a person enters a marriage with money already in their 401K, those funds are considered separate property, and would not be included in the division of assets. There are three common options when dealing with your 401K in the divorce decree. 1. [...]
Almost every new couple has heard the sad statistic that over half of American marriages end in divorce. Even more disturbing, many divorcing couples describe the ordeal as the hardest thing they’ve ever gone through and compare it to a death. Although the end of the relationship cannot be avoided, much of the pain and suffering can be reduced through proper planning and by knowing the law/process of divorce in Arizona. Jurisdiction The first step is to ensure that you can file for divorce in Arizona. Each state has its own requirements regarding who can file for divorce and who [...]
After getting married on May 21, 2011, the “Real Housewives of Atlanta” star Porsha Stewart and NFL star Kordell Stewart decided to call it quits less than two years later. However, Porsha did not learn about the divorce until she read about it in the media. The 31-year-old Mrs. Stewart had contemplated filing divorce, but reconsidered when her husband said he wanted to work on their marriage. However, Mr. Stewart didn’t mean what he said after he filed for divorce without telling his wife, claiming their marriage was irretrievably broken. If you need help coping with the emotional stages of [...]
The National Center for Family & Marriage Research (NCFMR) at Bowling Green State University stated that one in four divorcees is older than 50 years old. In 2009, people between the ages of 50 and 64 accounted for 12.6 divorces per 1,000 marriages. Divorce that occurs after the age of 40 is known as “gray” or “silver” divorce. There are two popular reasons for the popular late-in-life divorce. The first reason is that spouses who have been married for several years have lost romantic intimacy. They believe they still have time to start a new relationship and experience that kind [...]
While going through a divorce, assets and debts will be split up between both spouses. The most valuable asset tends to be the home and the largest debt is usually the mortgage. If one of the spouses owned the house before the couple was married, the house remains the property of whoever had it first. If this is not the case, the house and mortgage will be addressed in the divorce settlement. A spouse is not allowed to kick their partner out if the house is joint marital property. However, if they receive an order of exclusive occupancy from the [...]
When a woman gets a divorce after being a stay-at-home-mom, her life is bound to dramatically change. Here are some suggestions to consider before beginning the divorce process. Obtain Financial Records. Be sure to make personal copies of your financial records and important information, including: assets, debts, letters, emails, texts, photos, recordings, home closing documents, mortgage information, automobile titles, nonretirement account statements, retirement account statements, tax returns and supporting documents, monthly bills, and credit card statements. Meet with a Financial Planner. The responsibility of a financial planner is to provide a summary of your current financial situation. A financial planner [...]
Before your divorce is final, emotional stress and financial responsibilities can have a big impact on how you make decisions. Here are five tips for removing the financial stress from your divorce: Don’t max out your credit cards. While it might seem like a good idea to put all expenses—such as, living, tuition, transport costs, and legal fees on a credit card to pay off later—you may not be capable of making the monthly payments and your credit history can be negatively affected. You might have friends or family members that are willing to help you out. Also, specialist divorce [...]
In July, 2011, singer/actress Jennifer Lopez split from singer Marc Anthony after being married for seven years. Lopez was able to open up about how it has been a very difficult time for her. “I didn’t want to be the woman who stayed in bed for months… I’d dance every day, I’d work out, I’d say a little prayer and I still wouldn’t feel any better… It was a process, and it very gradually got a little easier.” The singer felt like it was her fault the twos marriage didn’t last. Anthony made the split official when he filed for [...]
The nonprofit Sesame Workshop—operators of Sesame Street—released “Little Children, Big Challenges: Divorce” online as a set of resources for families going through divorce. The site is equipped with a children’s book, a mobile app, a guidebook for parents, and digital tip sheets and webinars. This site was geared toward children between the ages of two and eight who need help coping with their parents’ divorce and to aid parents in discussing divorce with their children. A thirteen-minute video will be available online of puppets Elmo and Abby Cadabby discussing divorce. This episode will not air on television. One of the [...]
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