Many of us have heard the phrases “money can’t buy happiness” and “With more money comes more problems.” These phrases underestimate the power that money actually does have in certain situations, like a divorce.
If you are getting divorced, money is likely one of your most pressing concerns. Between splitting up your assets and figuring out how to support two households, the fact is that money plays a pivotal role in many California divorces. While it cannot repair a broken relationship or buy an easier divorce, money could help to resolve a few divorce-related matters.
- Raising your child: If you have children, you won’t have to support them on your own after divorce. California courts will order one parent to pay child support to the other in order to ensure that children are supported by both parents.
- Making the transition to post-married life: Courts can also order spousal support, or alimony, which can make life a little easier in the aftermath of divorce. This money helps the financially disadvantaged spouse adjust to life after divorce.
- Alleviating the sting of bad behaviors: Again, money cannot undo past mistakes but as this article points out, it can compensate one spouse for the other’s bad behaviors in some cases. For instance, if your ex spent a lot of money on an affair, you could be compensated for any marital assets spent on affairs.
- Fast tracking the process: If you are ready to be done with the marriage and move on, money could help you do this. Rather than fighting tooth-and-nail over every dollar in your divorce, you could agree to a settlement that may not get you every cent you deserve. Prioritizing a speedy settlement over disputed expenses or payments can be an appealing option for some.
Money is by no means the only way or even the best way to solve all your problems during your divorce. However, it can be an effective resource and potential solution that should not be overlooked. Discussing the financial aspects of divorce with your attorney can help you avoid some costly – and potentially avoidable – ramifications of divorce.