Here's what you should do when getting a divorce
This collection of over 50 happy anniversary quotes will help you and your beloved honor and celebrate your anniversary, whether it's the first. While researchers have long examined the dating and mate (e.g., parental divorce, parental marital quality, parent-child relationships), peer. Dating after divorce can be a minefield for the midlife woman. Perhaps even thornier than pondering what to wear on a date, where to go, who.
Though the law has provisions for husband's rights over the wife's property if he is unable to maintain himself, in India the husband is considered as the default breadwinner. If both are working, the husband might not have to pay for the wife's routine expenses. If the wife is not working, the husband might have to support her by paying a fixed sum periodically or making a one-time payment," says Sumit Vaid, founder, Ffreedom Financial Planners.
While dividing the assets, you must take into account the role played by each spouse. This is because one of you might be taking care of all the expenses while the other was contributing to the savings kitty. If the wife is not employed or does not earn enough to support self, she is entitled to alimony. This is true even when she earns but her income is not enough to support the same living standard as that of her husband. Child Care Things become more complicated if the couple has children.
For, in such a case, the priority of the settlement is to protect their interests. Irrespective of who gets the custody of children, both would ideally want to arrange for their welfare.
A female live-in partner has rights similar to a wedded wife if the couple has shared a relationship similar to marriage. If this condition is satisfied, she has the right to maintenance and residence. These will be transferred to the children after they attain adulthood," says Bimal Gandhi, chairman, Ameriprise India, a financial planning firm. While planning for this, take into account the investments already made for children's education, health care and other expenses.
If the parent who will take care of the children needs financial support, make sure the agreement mentions how the expenses will be shared.
Inflation, too, needs to be considered as education and other costs are going up at a very fast pace," says Vaid of Ffreedom Financial Planners.How To After DIVORCE!
A trust can also be set up. Trusts ensure distribution of income and assets according to the wishes of the settler the parents. The assets are managed by the trustees for the benefit of the transferee the children in this case in accordance with the laid-down terms and conditions. The trustee can be a trustworthy law firm or relatives that can ensure that the benefits of the assets are passed on to the child," says Gandhi of Ameriprise. Documentation After arriving at an understanding on how to share assets, liabilities and parental responsibilities, put everything in black and white.
You will have to inform the court about the settlement while applying for divorce. It should tackle all important issues related to separation such as alimony, child custody and splitting of assets and debts. Ensure that it is drafted and worded in such a manner that it gives both partners fair and equal rights," says Gupta of Fullerton Securities and Wealth Advisors.
In case you decide to share any liability or asset in the future, the agreement should mention it in detail, preferably with remedies in case one partner does not honour the agreement. Before arriving at the agreement on financial aspects of separation, you must start the groundwork by updating the records of all financial assets. Retain the bills of assets held in your name. Keep photocopies of bills of assets held jointly if you do not have the originals.
Gupta makes another important point.
It will help you answer any tax query raised by the authorities later," he says. Moving On The matrimonial discord should not affect your financial future. You must take steps to repair the damage it may cause to your financial plan.
Rewrite the plan on the basis of this," says Nirmal Rewaria, senior vice president, Edelweiss Financial Planning.
50+ Happy Anniversary Quotes
In the wake of changed responsibilities and risk profile, it makes sense to redefine financial goals at this stage. Don't let them go under the emotional baggage of separation," he says.
If you have to pay alimony or meet children's expenses, you should make these priority and start saving for them immediately. A good option would be to open a separate account and set up an automatic debit from your savings account. You can stay in your pajamas and watch chick flicks on Netflix, or you can get up early and run non-stop all day.
Due Date Rate
The choice is up to you. The thought of fielding pick-up lines from guys at bars can make you hyperventilate. Do you understand me? Only doctors had mobile phones and they were as big as a shoe box! Online dating scares the snot out of me. Weeding through hundreds of guys who probably want to make a suit of my skin, trying to find that one gem who not only is not a serial killer, but who also chews with his mouth closed can be daunting.
And which of the trillions of online dating sites should you use? Out of necessity, I learned how to do these things. I no longer felt like I needed a man in my life. Sure, it would be nice to have someone to do those things and to help out, but when it comes down to it, I am capable of taking care of everything on my own.
You decide you never want to share a bathroom again There are some advantages to being on your own — advantages like getting up to pee in the middle of the night and not falling in the toilet because no one has left the seat up. Not having to pick up laundry from the floor brings me utter joy. Why would I want to go back to sharing a bathroom or bedroom with anyone?