Re:Suicide rising across the US
by toomuchtodo on Thursday June 07, 2018 @03:27PM
(#17259334)
Agreed. Divorce is one of the most financially devastating events that can happen in one’s life. The longer I’m alive, the longer I recommend to people to never get married. Live together, but keep your finances separate (does not apply in community property states; watch out!).
[ Parent
| on HN ]
I doubt I will be able to recover from mine. I'm paying $1700 per month in child support for two kids, even though I have custody of them 45% of the time. I have Smith-Ostler riders to collect 12% from any bonus, stock option sales, RSUs, etc. I basically have to restart from scratch on my 401k, as that was used to pay off the divorce costs and equalizations. I finished paying off spousal support, which was another $1800 per month, but now I am so far in the hole that I doubt I will ever dig out. It's been over two years since the divorce, but I am still struggling just to make my mortgage every month.
I don't know if people on HN (who I assume a majority of are high earners) realize just how much money you can be on the hook for if you have a motivated ex-spouse with an attorney. My ex was a stay-at-home mom with a side business as a photographer. Good luck getting a fair shake in court when you get a W-2 salary, and the other party runs their own business.
Edit: typo - I have 45% custody, not 55% custody.
Prenuptial agreements are a thing. Though there's probably some sound thinking behind the point of view that if you aren't willing to get married without a prenup, then you really shouldn't be getting married.
Good luck actually getting that pre-nup enforced in court!
Just don't get married, unless you are ready to lose it all if it goes south.
Or you can marry someone who doesn't consider divorce an option, for example a devout Catholic. Of course that assumes they will stick to their beliefs in the face of temptation, and observably many do not.