Comments on: Divorce: The Destroyer of Wealth?

By: tom

tom — Tue, 03 Feb 2009 03:05:14 +0000

Let’s face it, people need to look at marriage as a business contract and have a back up plan as anything else in life. If you don’t then you are living on hope, not in reality.

Also, majority of parents today aren’t all that great, in terms of raising kids properly.

And yes divorce is quite messy but the problem is the “stuff” they accumulated during the marriage. Stuff they can’t really afford to keep when something happens, such as now.

By: the weakonomist

the weakonomist — Sat, 31 Jan 2009 13:45:00 +0000

My post never says Allen is a fantastic parent, all I ever said was Jane is unfit to be one based on what I’ve been told. Please keep in mind I only cited one such story of Jane’s experiences with the child. I could do more, but it would reveal more about them than I would feel comfortable doing (they’ve been in the news).

We have no Super Targets here, so there was no grocery shopping going on. Jane was at Target with her boyfriend and Max, getting dog food.

The original point of the post is to discuss how expensive divorce is for everyone, not to win any arguments for Allen. The back story simply exists to explain why I was inspired to write this post.

By: Funny about Money

Funny about Money — Sat, 31 Jan 2009 11:24:20 +0000

Divorce is extremely expensive for all concerned. If I had stayed married to the corporate lawyer who evidently was as bored with me as I was with him, I wouldn’t be worrying about whether I’m about to be laid off, since he earns about five times as much as I do now at the height of my earning power and could support us both comfortably.

However, some things are more important than money.

Years ago I wrote a piece for a Scripps-Howard business journal about the cost of divorce for small-business owners. If you own a business, especially if your spouse has an interest in it (which, in a community property state, she or he certainly does), divorce can be ruinous.

BTW, that your child wanders off in Target and slips out the door with a bunch of junk in his little hands doesn’t necessarily make you an unfit parent. Max could be a bit of a pistol. I challenge you to take Max to a large, busy store, purchase a week’s worth of groceries (pay attention to the prices and the quality of the goods! don’t buy any junk and don’t get ripped off), some household products, and underwear that will fit your spouse…and keep that kid under control every second that you’re doing those things. It could be said that smoking around a child is a sign of an unfit parent. Your description makes these two sound like they’re both behaving badly.

By: The weakonomist

The weakonomist — Fri, 30 Jan 2009 18:29:28 +0000

Good grief. I’m turning out to be more right than I expected. Readers please continue to share your stories or whatever you may know about divorce and money.

By: Jayme

Jayme — Fri, 30 Jan 2009 18:14:57 +0000

I actually read an article yesterday regarding divorce in specific states. There were three they were focusing on, though i really only remember New York since i live there. I was appauled to find that those three states were the only states that did not allow no-fault divorces. as in if a divorce is contested by one or the other they have to go to court, fault has to be assigned and than the jury gets to decide if the couple can divorce or not.

not only does this leave women in verbaly and physicly abusive relationships traped unless they have been diagnossed with a serious mental condition. it also can cost upwards of 100,000 dollars to go through the proceedings, which will not only drain your finances but as stated before you could still be prevented from getting a divorce.

By: Miss M

Miss M — Thu, 29 Jan 2009 22:03:45 +0000

My parents just divorced last year so I got a first hand introduction to the economics of divorce. Lawyers typically cost $350/hr, depending on how long the divorce drags on those fees could eat up all the couple’s assets. Then there’s the question of what to do with the house, my parents have been trying to sell it for a year now in a terrible housing market. My mom has had to delay retirement, she was planning to retire early but now must work indefinitely to support herself. In a way my dad is the one getting screwed, he is a financial idiot and signed a divorce agreement without an attorney. My mom worked her whole life and has a job, still he has to pay her $2000 a month in alimony for the rest of his life. He still has the same expenses they had as a couple (he has to pay the mortgage till the house sells), plus the alimony payments and has to do it on one income while before there were 2.

By: Tess The Bold Life

Tess The Bold Life — Thu, 29 Jan 2009 14:52:55 +0000

Yes you are very one sided. Not that I doubt that what you say about Jane is true however, Allen has made some serious choices that have put him in his position.

Where are Allen’s parents or other relatives that can help?

A smoking habit? He needs a good counselor instead!

Lawyers would go broke if people stayed married.

And I agree think before you walk down the aisle. If there is even a bit of doubt hold off until there is none.
Good post.