Is It Safe To Say That There’s Going To Be Different Factors To Consider With A High-Net-Worth Family Versus A Lower Middle-Class Family?
In the context of a high-net-worth couple, you’re talking about more complex issues because, typically, more things have been acquired during the marriage. There’s going to be more money, different categories of where the money has gone, possibly additional real estate, more luxury vehicles, and all the trappings that money can buy. Decoding that and figuring out who gets what sometimes becomes a challenge but the subject matter is all the same: What you have acquired during the marriage from the day you said “I do” until now?
Regarding medium-income couples, the probability is that they have not acquired all that much during the marriage. It’s going to be more of a case of paycheck coming in and expenses going out. Then, how does the couple share their finances? Do they have separate checking accounts, do they have a different methodology of paying their bills? Once those bills are paid at the end of the month, you look if there is a surplus or a deficit, and if there’s a deficit, it becomes a real problem that puts tremendous strain on any marriage.
If A Couple Can’t Afford To Divorce, And By That I Mean Living Apart, Having The Two Households, The Two Cars Etc., Is It A Good Idea To Consider A Legal Separation Within The Same Household First Before Pushing That Divorce? What Are Some Of The Pros And Cons That You See Of Living Together But Not Being Together?
Living together in a house has nothing to do with being married, divorced, or legally separated. It’s a question of what the finances look like and whether you can sustain living in two separate households. Regardless of the situation, living in the same house is just a matter of occupying space?
More and more couples live together in the same household, frustrated but understanding that the marriage has ended. Still, for the children’s benefit, typically, until the youngest child will graduate from high school, the couple will have to live together because they cannot afford to live separately. With the pandemic having passed its one-year mark and the housing becoming much more expensive than it was, couples cannot afford to go out and buy another house, and the rentals have become impossible to afford.
What used to be a $2,500 rental for a two-bedroom apartment in a moderate complex in Long Island neighborhoods with good school districts now cannot be found for less than $3,500. That additional money would be a tremendous strain on anybody’s pocketbook. It’s always a better idea to explore whether a legal separation can be sustained because it comes with numerous benefits.
For more information on Divorce In New York, a complimentary 30-minute zoom consultation is your next best step. Get the information and legal answers you are seeking by calling (631) 462-3100 today.
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“individual or as a couple”